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External Finance Reporting Sr Consultant- Regulatory Reporting Senior Consultant

Company: Wells Fargo
Location: Minneapolis
Posted on: October 20, 2019

Job Description:

Job DescriptionAt Wells Fargo, we want to satisfy our customers financial needs and help them succeed financially. Were looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where youll feel valued and inspired to contribute your unique skills and experience.

Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

Enterprise Finance drives financial management for the company and maintains and enhances risk and financial controls. Key functions within Enterprise Finance include finance and accounting; Treasury; corporate development, mergers, and acquisitions; Data Management and Insights, the Customer Remediation Center of Excellence, Enterprise Shared Services, Business Process Management, and Corporate Strategy. Enterprise Finance informs shareholders, regulators, taxing authorities, team members, and leaders of the companys financial performance through earnings releases, investor meetings and conferences, and meetings with regulators and credit rating agencies, following appropriate reporting guidelines. They also maintain and enhance risk and financial controls and lead many of the companys shared services functions including corporate properties, security, and global services.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Founded in 1852, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial financial services through more than 8,600 locations, 13,000 ATMs, online (wellsfargo.com), and mobile devices.

Wells Fargo is headquartered in San Francisco, but we are decentralized so every local Wells Fargo store is a headquarters for satisfying our customers financial needs and helping them succeeds financially. We do business with 70 million customers and one in three U.S. households. Wells Fargo has approximately 269,000 team members in 36 countries and territories across our more than 90 businesses.

Enterprise Finance

Corporate Finance plans, tracks, analyzes and reports financial results; manages the companys balance sheet, including liquidity and funding, capital and investments; oversees internal real estate needs; drives acquisitions; is responsible for financial controls; and leads corporate strategy. Corporate Finance identifies areas of financial risk and mitigates efforts appropriately. It works with capital markets to provide lowest possible costs of incremental funding, subject to capital and financial risk management constraints. It improves financial performance by analyzing business unit performance and recommending areas of improvement. The group strives for excellence in customer service and client support by exhibiting behavior that is fair, reasonable, ethical, and professional.

The Team

The Regulatory and Basel Reporting team (RBR) is responsible for timely and accurate regulatory filings. This work effort includes preparation, review & credible challenge, rules interpretation and submission of Wells Fargos regulatory reports and surveys. Core skill sets include the understanding of critical data elements, related operational processes (including data onboarding) and ability to apply analytical techniques providing insight supporting actionable enhancements. Issue Managements and Risk Management are also core skill sets.

The Role

Wells Fargos Regulatory and Basel Reporting team (RBR) is responsible for filing regulatory reports with numerous regulatory agencies and currently has many ongoing projects related to new accounting and reporting standards, enterprise-wide implementation of data management enhancements, and the COSO-based governance and oversight framework. This role will be part of a team responsible for filing regulatory reports, specifically focused on implementing the new reporting requirements to demonstrate the Companys compliance with single-counterparty credit limits on Form 2590. Additionally, this role will support a team leader in projects and initiatives related to all the regulatory reporting team member activities and dependencies in support of accurately sourcing, defining and utilizing regulatory counterparty type. This role will be responsible for the following activities:

Single-Counterparty Credit Limit Reporting:


  • On a quarterly basis, coordinate the submissions of cross-functional workstreams to prepare and file Form FR 2590 with the FRB
  • Join the existing implementation team and work to establish reporting timelines and processes and provide input on ongoing efforts to ensure data availability and quality
  • Manage own progress against the production calendar and escalate delays timely
  • Identify interpretive matters and escalate to the team leader; assist in coordinating with the regulatory policy team for interpretive assistance
  • Execute or review analytics and reconciliation procedures that ensure a level of material accuracy of Form FR 2590
  • Perform and document, where applicable, edit check conclusions
  • Perform cross-report reconciliations and be familiar with where overlap exists
  • Coordinate issue management processes, escalations and remediation with internal governance teams

    Regulatory Counterparty Projects:

    • Work and coordinate with RBR team members, regulatory policy team and Business Controllers (providers of data) to ensure that the current regulatory counterparty type definitions and mappings to the report are complete.
    • Assist with the creation of complete and concise regulatory counterparty type documentation that can effectively be used for Training and end-user orientation and awareness.
    • Contribute to identifying the appropriate risk-weighting of assets when the decision is based on counterparty characteristics.
    • Identify instances of change that may impact existing counterparty reporting or definitions and escalate to the appropriate parties, including partnering with the regulatory policy team where appropriate
    • Support the writing of regulatory counterparty type technical requirements for supporting systems of record, including UAT test scripts and scope of regression testing


      Required Qualifications


      • 6+ years of experience in one or a combination of the following: finance, accounting, analytics and reporting; or a BS/BA degree or higher in Finance, Accounting, Statistics, Economics, Business and 4+ years of experience in one or a combination of the following: finance, accounting, analytics or reporting




        Desired Qualifications


        • A BS/BA degree or higher in one or a combination of the following: Finance, Accounting, Analytics, or Reporting
        • Ability to manage effectively in a matrixed organization
        • Excellent verbal, written, and interpersonal communication skills
        • Strong analytical skills with high attention to detail and accuracy
        • Extensive knowledge and understanding of research and analysis
        • Ability to work effectively in a team environment and across all organizational levels, where flexibility, collaboration, and adaptability are important
        • Strong time management skills and ability to meet deadlines




          Other Desired Qualifications


          • Proficiency in Microsoft PowerPoint, Excel, Visio
          • 2+ years of experience in Fed Reporting
          • Working knowledge of regulatory compliance and familiar with COSO framework
          • Experience with the General Ledger and data reconcilement to regulatory reports


            DisclaimerAll offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.



            Relevant military experience is considered for veterans and transitioning service men and women.

            Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.

Keywords: Wells Fargo, Burnsville , External Finance Reporting Sr Consultant- Regulatory Reporting Senior Consultant, Accounting, Auditing , Minneapolis, Minnesota

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