Securities Operations Representative

Description

About this role:

Wells Fargo is seeking an Associate Securities Operations Representative...

About Wells Fargo India
Wells Fargo India enables global talent capabilities for Wells Fargo Bank NA., by supporting business lines and staff functions across Technology, Operations, Risk, Audit, Process Excellence, Automation and Product, Analytics and Modeling. We are operating in Hyderabad, Bengaluru and Chennai locations.

Department Overview

The Derivatives Collateral Management team is responsible for System readiness process which includes calculating and posting adjustments of Mark to Market and Initial Margin requirements in order to mitigate the risk exposure. The team is also responsible to perform all the functions of New Business team which includes Updating Index Rates, Securities pricing updates, reviewing and reporting exceptions, performing various reconciliations, processing interest movements and reporting the findings to the concerned parties and retaining process on a timely manner.

About the Role -

Team member is responsible to perform daily manual adjustment to ensure the system readiness for margining activity. Team is also responsible to all the functions of New Business team which includes Updating Index Rates, Securities pricing updates, reviewing and reporting exceptions, performing various reconciliations, processing interest movements and reporting the findings to the concerned parties and retaining process on a timely manner. The Portfolio Reconciliation Analyst will support the Collateral Management functional and regulatory role of monitoring, remediating, and reporting trade level differences or issues. Pursuant to EMIR, CFTC, and SEC regulations the Port Rec Analyst will maintain compliance across product types per related regulation. Activities will include reporting, root cause analysis, trade matching, remediation, annual and quarterly Port Rec notification tracking, missing bucket reconciliations, and escalations to collateral management and the relevant trading desk.

Responsibilities

• Take responsibility of monitoring daily functions of Derivatives Collateral management process
• Organizes the work of the team, assigns task, sets short-term priorities, monitors all activities and ensure timely and accurate completion of the work
• Displays sound working knowledge surrounding Collateral margining process
• Escalate in a timely manner within the Operations group, Technology application support and Middle Office to ensure prompt resolution of exceptions/disputes
• Understands needs and sensitivities of internal and external clients and proactively ensuring these are met
• Acquainted with ISDA/CSA standards & definitions
• Builds relationship with businesses and counterparties to ensure effective escalation and timely resolutions
• Partner with Technology to identify/ resolve system issues, and implements system enhancements to increase efficiency
• Swiftly Identifies potential risks in operational processes; develops and implements controls to mitigate related risk
• Displays strong analytical skills to improve work flow to increase operational efficiency
• Collaborates with global team to produce reports and build metrics
• Competent in TAT Management, Process Improvements, Regulatory Compliance, Audits- Process/Transactional Level including adherence to SLAs
• Periodically reviews the procedure documents and check list
• Ability to train and mentor new hires
• Review the root cause for a trade valuation difference or unmatched trade. This analysis will be published daily and will be used by management to create informed commentary where call disputes occur. Trade matching will be required in trioptima as part of the root cause analysis and remediation
• Escalate large discrepancies and report on all differences over a threshold to relevant margin analysts and managers.
• Review trade, source system, and portfolio level issues and escalate to management and technology or the relevant trading desk.

Essential Qualifications

• MBA or an advanced degree (or equivalent exp.)
• 3-4 years' experience in Collateral management process,
• Strong interpersonal and influencing skills, with the ability to build strong partnership with business stakeholders and other support functions
• Strong organizational and project management skills with demonstrated ability to manage expectations and deliver on commitments

Desired Qualifications

• Experience of working across one or more geographic territories or regions.
• Must be a great team player with a high degree of flexibility, prepared to work in a deadline-driven and fast-paced environment
• Experience of working with senior leaders cutting across Technology, Operations and Strategy functions is an added advantage

Knowledge and Skills:

• Understands Derivatives trade life cycle and associate functions
• End to End experience of Collateral margining process
• Good understanding on Colline/OAQ/OPICS and other industry standard applications
• Proficient in Excel
• CSA set-up
• Excellent internal/external client handling skills
• Analytical and detail oriented
  About Wells Fargo India
  Wells Fargo India enables global talent capabilities for Wells Fargo Bank NA., by supporting business lines and staff functions across Technology, Operations, Risk, Audit, Process Excellence, Automation and Product, Analytics and Modeling. We are operating in Hyderabad, Bengaluru and Chennai locations.
  
  Department Overview
  
  The Derivatives Collateral Management team is responsible for System readiness process which includes calculating and posting adjustments of Mark to Market and Initial Margin requirements in order to mitigate the risk exposure. The team is also responsible to perform all the functions of New Business team which includes Updating Index Rates, Securities pricing updates, reviewing and reporting exceptions, performing various reconciliations, processing interest movements and reporting the findings to the concerned parties and retaining process on a timely manner.
  
  About the Role -
  
  Team member is responsible to perform daily manual adjustment to ensure the system readiness for margining activity. Team is also responsible to all the functions of New Business team which includes Updating Index Rates, Securities pricing updates, reviewing and reporting exceptions, performing various reconciliations, processing interest movements and reporting the findings to the concerned parties and retaining process on a timely manner. The Portfolio Reconciliation Analyst will support the Collateral Management functional and regulatory role of monitoring, remediating, and reporting trade level differences or issues. Pursuant to EMIR, CFTC, and SEC regulations the Port Rec Analyst will maintain compliance across product types per related regulation. Activities will include reporting, root cause analysis, trade matching, remediation, annual and quarterly Port Rec notification tracking, missing bucket reconciliations, and escalations to collateral management and the relevant trading desk.
  
  Responsibilities
• Take responsibility of monitoring daily functions of Derivatives Collateral management process
• Organizes the work of the team, assigns task, sets short-term priorities, monitors all activities and ensure timely and accurate completion of the work
• Displays sound working knowledge surrounding Collateral margining process
• Escalate in a timely manner within the Operations group, Technology application support and Middle Office to ensure prompt resolution of exceptions/disputes
• Understands needs and sensitivities of internal and external clients and proactively ensuring these are met
• Acquainted with ISDA/CSA standards & definitions
• Builds relationship with businesses and counterparties to ensure effective escalation and timely resolutions
• Partner with Technology to identify/ resolve system issues, and implements system enhancements to increase efficiency
• Swiftly Identifies potential risks in operational processes; develops and implements controls to mitigate related risk
• Displays strong analytical skills to improve work flow to increase operational efficiency
• Collaborates with global team to produce reports and build metrics
• Competent in TAT Management, Process Improvements, Regulatory Compliance, Audits- Process/Transactional Level including adherence to SLAs
• Periodically reviews the procedure documents and check list
• Ability to train and mentor new hires
• Review the root cause for a trade valuation difference or unmatched trade. This analysis will be published daily and will be used by management to create informed commentary where call disputes occur. Trade matching will be required in trioptima as part of the root cause analysis and remediation
• Escalate large discrepancies and report on all differences over a threshold to relevant margin analysts and managers.
• Review trade, source system, and portfolio level issues and escalate to management and technology or the relevant trading desk.
• Essential Qualifications
• MBA or an advanced degree (or equivalent exp.)
• 3-4 years' experience in Collateral management process,
• Strong interpersonal and influencing skills, with the ability to build strong partnership with business stakeholders and other support functions
• Strong organizational and project management skills with demonstrated ability to manage expectations and deliver on commitments
• Desired Qualifications
• Experience of working across one or more geographic territories or regions.
• Must be a great team player with a high degree of flexibility, prepared to work in a deadline-driven and fast-paced environment
• Experience of working with senior leaders cutting across Technology, Operations and Strategy functions is an added advantage
• Knowledge and Skills:
• Understands Derivatives trade life cycle and associate functions
• End to End experience of Collateral margining process
• Good understanding on Colline/OAQ/OPICS and other industry standard applications
• Proficient in Excel
• CSA set-up
• Excellent internal/external client handling skills
• Analytical and detail oriented
• RWF@2023

We Value Diversity

At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.

Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.

Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.