Wells Fargo
Capital Markets Middle Office Specialist - Collateral Management
Wells Fargo, Charlotte, North Carolina, United States, 28245
About this role:
Wells Fargo is seeking a Capital Markets Middle Office Specialist to join Collateral Management group within the Corporate and Investment Banking Operations organizations. The Collateral Management department supports the collateralization of the derivative, repurchase agreement (repo), forward, and Foreign Exchange (FX) businesses of Wells Fargo. This group supports approximately 30,000 clients across all derivative business product lines, and multiple legal entities. Wells Fargo (WF) DCM (Derivative Collateral Management) actions approximately 900 margin calls daily and is responsible for the settlement and front to back management of the collateral for those clients. Learn more about our career areas and lines of business at wellsfargojobs.com (https://www.wellsfargojobs.com/career-areas/) .
In this role, you will:
Compare trade position files from external counterparties to resolve timely margin call disputes
Primary point of communication between Wells Fargo and it’s client base
Perform trade decompositions to validate current mark-to-market exposures
Review and present collateral margin calls and respond to demands submitted by our counterparties
Collaborate with internal departments (various Middle Offices, Documentation, Marketers, Legal, Risk) to resolve all discrepancies
Produce and distribute ad-hoc reporting requirements to clients
Cross-train future staff members to assist and independently perform daily Derivative Collateral Management (DCM) margin responsibilities
Consistently seek opportunities to improve processes, controls and procedures within the Collateral Management team
Partner with the project team to develop requirements for system enhancements and assist with user acceptance testing
Required Qualifications:
2+ years of Capital Markets industry experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Desired Qualifications:
1+ years of applicable Derivative Collateral Management (DMC) margin experience
College degree with concentration in finance and business and Series 7 and or Series 99
Knowledge or experience with Uncleared Margin Rules and FINRA 4210 / 4240 is beneficial
Understanding of Calypso, Mercury, Opics, Endur, and other mainframe trading systems
Firm understanding of derivative trading (Interest Rate Swaps, Swaptions, Floors, Caps, Commodities Cross-currency, FX, Equity, etc.) mechanics and payment reset schedules
Knowledge of and possess ability to interpret executed International Swaps and Derivatives Association Master Agreements and Credit Support Annex documents
Self-starter and aggressive work ethic with self-discipline follow up skills
Experience with Vermeg’s Colline Collateral Management platform is a plus
Great communication (oral and written) skills
Corporate & Investment Banking (“CIB”) delivers a comprehensive suite of capital markets, banking, and financial products and services. As a trusted partner to our clients, we provide corporate and transactional banking; commercial real estate lending and servicing; investment banking; equity; and fixed income solutions including sales, trading, and research capabilities to corporate, commercial real estate, government, and institutional clients across the globe.
Wells Fargo only considers candidates who are presently authorized to work for any employer in the United States and who do not require work visa sponsorship from Wells Fargo now or in the future in order to retain their authorization to work in the United States. This position is subject to FINRA Background Screening Requirements, including successful completion and clearing of a background check. Internal transfers are subject to comply with 17 CRF 240.17f-2 of the Securities Exchange Act of 1934 and FINRA Bylaws, Article III, Section 3, which states that Associated Persons should not be subject to statutory disqualification. Successful candidates must also meet ongoing regulatory requirements including additional screening and are required to report certain incidents.
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.
Posting End Date:
10 Nov 2024
*Job posting may come down early due to volume of applicants.
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, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
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.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo (https://www.wellsfargojobs.com/en/diversity/disability-inclusion/) .
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy (https://www.wellsfargojobs.com/en/wells-fargo-drug-and-alcohol-policy) to learn more.
Wells Fargo Recruitment and Hiring Requirements:
a. Third-Party recordings are prohibited unless authorized by Wells Fargo.
b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.
Req Number: R-413562
Wells Fargo is seeking a Capital Markets Middle Office Specialist to join Collateral Management group within the Corporate and Investment Banking Operations organizations. The Collateral Management department supports the collateralization of the derivative, repurchase agreement (repo), forward, and Foreign Exchange (FX) businesses of Wells Fargo. This group supports approximately 30,000 clients across all derivative business product lines, and multiple legal entities. Wells Fargo (WF) DCM (Derivative Collateral Management) actions approximately 900 margin calls daily and is responsible for the settlement and front to back management of the collateral for those clients. Learn more about our career areas and lines of business at wellsfargojobs.com (https://www.wellsfargojobs.com/career-areas/) .
In this role, you will:
Compare trade position files from external counterparties to resolve timely margin call disputes
Primary point of communication between Wells Fargo and it’s client base
Perform trade decompositions to validate current mark-to-market exposures
Review and present collateral margin calls and respond to demands submitted by our counterparties
Collaborate with internal departments (various Middle Offices, Documentation, Marketers, Legal, Risk) to resolve all discrepancies
Produce and distribute ad-hoc reporting requirements to clients
Cross-train future staff members to assist and independently perform daily Derivative Collateral Management (DCM) margin responsibilities
Consistently seek opportunities to improve processes, controls and procedures within the Collateral Management team
Partner with the project team to develop requirements for system enhancements and assist with user acceptance testing
Required Qualifications:
2+ years of Capital Markets industry experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Desired Qualifications:
1+ years of applicable Derivative Collateral Management (DMC) margin experience
College degree with concentration in finance and business and Series 7 and or Series 99
Knowledge or experience with Uncleared Margin Rules and FINRA 4210 / 4240 is beneficial
Understanding of Calypso, Mercury, Opics, Endur, and other mainframe trading systems
Firm understanding of derivative trading (Interest Rate Swaps, Swaptions, Floors, Caps, Commodities Cross-currency, FX, Equity, etc.) mechanics and payment reset schedules
Knowledge of and possess ability to interpret executed International Swaps and Derivatives Association Master Agreements and Credit Support Annex documents
Self-starter and aggressive work ethic with self-discipline follow up skills
Experience with Vermeg’s Colline Collateral Management platform is a plus
Great communication (oral and written) skills
Corporate & Investment Banking (“CIB”) delivers a comprehensive suite of capital markets, banking, and financial products and services. As a trusted partner to our clients, we provide corporate and transactional banking; commercial real estate lending and servicing; investment banking; equity; and fixed income solutions including sales, trading, and research capabilities to corporate, commercial real estate, government, and institutional clients across the globe.
Wells Fargo only considers candidates who are presently authorized to work for any employer in the United States and who do not require work visa sponsorship from Wells Fargo now or in the future in order to retain their authorization to work in the United States. This position is subject to FINRA Background Screening Requirements, including successful completion and clearing of a background check. Internal transfers are subject to comply with 17 CRF 240.17f-2 of the Securities Exchange Act of 1934 and FINRA Bylaws, Article III, Section 3, which states that Associated Persons should not be subject to statutory disqualification. Successful candidates must also meet ongoing regulatory requirements including additional screening and are required to report certain incidents.
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.
Posting End Date:
10 Nov 2024
*Job posting may come down early due to volume of applicants.
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, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
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.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo (https://www.wellsfargojobs.com/en/diversity/disability-inclusion/) .
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy (https://www.wellsfargojobs.com/en/wells-fargo-drug-and-alcohol-policy) to learn more.
Wells Fargo Recruitment and Hiring Requirements:
a. Third-Party recordings are prohibited unless authorized by Wells Fargo.
b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.
Req Number: R-413562