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External Financial 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.

The Controllers Division is responsible for the Companys financial statements, establishing corporate accounting policies, preparing SEC and regulatory reports and ensuring the adequacy of internal controls. The Division also manages and supports the Companys General Ledger, Accounts Payable and Fixed Assets systems.

The Automated Regulatory Reporting team is a component of the Enterprise Financial Reporting team which resides within the Finance division of Wells Fargo spanning. The Enterprise Financial Reporting team consists of approximately 200 individuals with responsibility to ensure overall accuracy in report production across regulatory and SEC reporting and across all segments of the Company. The Automated Regulatory Reporting team is a newly created team within Enterprise Financial Reporting with the responsibility to drive quality, execute effectiveness initiatives, and ensure strategic initiatives relating to the development of an automated regulatory reporting function are successfully accomplished. This group is dedicated to the development of a fully automated regulatory report production system.

The Enterprise Financial Reporting team is in a state of rapid and dynamic change with the intent of excelling amongst our peers in performance and structural efficiency. The Automated Regulatory Reporting team will be instrumental in achieving this goal. This team will provide the strategic oversight and decisions throughout regulatory report production and also throughout data provider, operational, and technology functions to develop and ensure accurate regulatory reporting. These responsibilities culminate in the development of an instrument level regulatory reporting system capable of generating regulatory reports on an automated basis. This team will be responsible for the strategic development and detailed control and review to ensure the system is designed and implemented to produce instrument level accuracy in regulatory report line-items across all relevant reports.

This team will act as an advocate for senior management in the execution of important strategic initiatives related to the automated production of regulatory reports. Primary responsibilities include ensuring that strategic initiatives are organized, communicated proactively, involve all necessary stakeholders, and executed effectively in-line with firm-wide initiatives as it pertains to automated regulatory report production.

A candidate on this team must have a strong understanding and knowledge of financial institutions, including various departments, businesses, and products common to such organizations. Additionally, a successful candidate will need to partner with other functions throughout the firm (operations, technology, controllers, etc.) to accomplish strategic initiatives. Candidates for this team also must have a broad knowledge base in technical accounting and regulatory reporting for financial products. In addition, a successful candidate will have a deep understanding of regulatory reports and underlining instructions at the line-item level across various regulatory reports.

The Position would be responsible for the accurate assessment and mapping of data elements to regulatory reports along with documentation of policy decisions and coordinating with support partners within the business and other corporate functions.

Components of Role


  • Data Element Mapping: Identification of relevant data elements and determining alignment to specific regulatory report line items to generate accurate and consistent regulatory reports
  • Interpretations / Judgments: Formal determination of line-item interpretation, documentation, and consistent application of such interpretations within current reporting and integration within automated report production
  • Review and Data Approval: Review data mapping done supporting report production and opine as to the appropriateness to use such data in the production of automated regulatory reports.
  • Support of Report Owner responsibilities, as necessary: This includes but is not limited to


    • maintaining line of sight into end to end processes
    • understanding and challenging all reported numbers, as appropriate
    • understanding and coordinating implementation of report instruction changes
    • partnering with support groups (Governance & Oversight, Data Management, Analytics, Change Management, and Technical Interpretations) to improve the control environment

      Role Description

      This is an individual contributor position that will be responsible for reporting transformation efforts within the Enterprise Financial Reporting Change Management team responsible for the development of a system and reporting logic to produce accurate production of significant regulatory reports such as the FRY-9C, all supporting schedules, FR Y-14Q, FFIEC 031/041, among many other reports.

      Responsibilities may include, but not be limited to the following:

      • Facilitate detailed alignment of financial product data elements to reporting logic to ensure accurate regulatory reporting
      • Review and ensure system logic and definitions are consistently applied to similar financial products and work with business partners to ensure data in systems of record are aligned
      • Drive transition of reports to the Lombard AgileREPORTER tool, utilizing the current production processes.
      • Drive preparations for connecting the future centralized data warehouse (multi-year project) to the Lombard reporting system.
      • Help with miscellaneous projects assigned by manager that require vast subject matter expertise.

        The successful candidate will be a highly motivated team player and a self-starter who is accustomed to working in complex organizations, partnering with a diverse group of stakeholders, and achieving results. The candidate should be flexible, be able to withstand challenges and adapt accordingly.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
          • Knowledge and understanding of regulatory reporting: Federal Reserve, OCC, and SEC
          • Management consulting experience at a top-tier consulting firm
          • Experience with general ledgers and accounting policies
          • Knowledge and understanding of corporate governance, financial reporting systems, legal entities, and role of regulatory authorities
          • Ability to lead projects/initiatives with high risk and complexity
          • Knowledge and understanding of capital markets: business and processes
          • Highly refined and professional verbal and written communications
          • Strong analytical skills with high attention to detail and accuracy
          • Advanced Microsoft Office skills
          • Ability to organize and manage multiple priorities
          • Strong research and documentation skills




            Other Desired Qualifications


            • Product knowledge in some or all of the following areas (loans, debt, derivatives, securities, repurchase agreements, securities lending, commodities, cash equities trading, credit trading, securities, etc.)
            • Broad financial product knowledge throughout the banking and capital markets industry inclusive of investment banking, asset-backed financing, non-marketable equity investments, etc.
            • Ability to research and document SEC/GAAP/REG issues in clear and concise memorandums
            • Experience with bank capital calculations, processes, and reporting, including risk weighted assets
            • CPA certification
            • Experience with large financial institutions


              Job Expectations


              • Ability to travel up to 15% of the time




                Street AddressNC-Charlotte: 11625 N Community House Road - Charlotte, NC

                MN-Minneapolis: 550 South 4th St - Minneapolis, MNDisclaimerAll 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 Financial Reporting Senior Consultant, Accounting, Auditing , Minneapolis, Minnesota

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