About this role:
Wells Fargo is seeking an experienced Operational Accounting Assistant to join the Wholesale Lending Shared Support Reconciliation Utility team, focusing on reconciling and balancing accounts. This role involves resolving complex accounting issues, handling disputes, and providing essential reconcilement support to various business groups in Wholesale Operations across the EMEA region.
Collaboration with departments/stakeholders like Finance, Operations, Static Data, Production Support, and Technology across EMEA and globally is crucial. The goal is to identify reconciliation discrepancies' root causes and promptly resolve issues for Account owners and remediation owners. The role also involves contributing to efficiency and automation projects while enhancing control measures to mitigate risk factors associated with regional reconciliations.
Join us in this dynamic role to drive operational excellence and improve reconciliation processes in a global financial environment.
In this role, you will:
Support daily transactional reconciliation processes performed by offshore India reconciliation team for a variety of Wholesale business products including Nostro/Vostro, Payments Services, Trade Finance, Foreign Exchange, CDF, CRE, Treasury etc.
Review of end of day balance reconciliation between the "Subsystem (i.e. Flexcube/Flex pay, Midas+, LoanIQ Tradeworks, RFX, IBIS, AIMS) and General Ledger".
Ensure the daily market fluctuation of a foreign asset/cash accurately recorded within the corporate GL, in US Dollars (Cash Substantiation).
Investigate and escalate outstanding items as per accounting standard policy and Enterprise-wide Operational reconciliation standards and investigate out of balance conditions on timely manner working with Account owners and Resolution owners across functions and businesses to identify root cause of breaks and support timely resolution.
Review documentation for aged items that exceed corporate standard to ensure alignment to procedural requirements
Monitor and validate daily/monthly reports received and loaded to the system to ensure accuracy in reconcilement and to avoid business impact.
Work with Operational stakeholders / Account owners to ensure that reconciliation data deficiencies tracked and escalated to functional leadership and Technology for remediation.
Assist with month end close including review of reconciliations - Nostro/GL; Subsystem; Cash Substantiation; FX Position; Supplemental (Multiple System Data comparison); Balance Sheet/P&L Certification; month-end journals.
Assist with external and internal audit and Operations inquiries and drive leadership awareness of issues identified.
Follow up on inquiries submitted by variou.s lines of business for resolution or escalation both as part of month-end close and daily reconciliation activities
Analyze reconciliation metrics and provide reporting support to Wholesale Operations customers timely.
Work closely with Oversight, Technology and Production Support team to resolve reconciliation issues/breaks.
Support function in issue management ensuring appropriate issue escalation and remediation to agreed timelines.
Maintain and update regional functional process maps, desktop procedures and control procedures.
Support UAT and regression testing and functional change management processes.
Support functional drive for process automation and driving consistency of process for Reconciliation Utility.
Support annual functional RCSA process ensuring functional risk and controls documented and appropriately mitigated.
Required Qualifications:
Experience in Operational Accounting, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education.
Knowledge of Corporations Accounting and Controls standards and policies Broad Banking/Financial services experience.
Experience in performing various reconcilements such as Cash/Nostros, Suspense and Subsystem.
Proven understanding of accounting fundamentals as it relates to Nostros/Cash, Suspense and Subsystem reconcilements.
Ability to prioritize work, meet deadlines, achieve goals and work under pressure in a dynamic and complex environment.
Detail oriented, results driven, and can navigate in a quickly changing and high demand environment while balancing multiple priorities.
Ability to research and report on a variety of issues using problem solving skills.
Proven ability/proficiency with the use of various @types of automation.
Ability to work both independently as well as within a team environment with good interpersonal skills.
Ability to work with offshore teams.
Ability to adapt and to manage change.
Proven knowledge of IRIS Web/Oracle GL processing.
Thorough knowledge on Nostro/Vostro, Foreign Exchange, SWIFT
Effective oral and written communication skills.
International Banking Operations Experience.
Demonstrated understanding of accounting principles.
Proven intermediate Microsoft Excel, Word and Power Point skills.
Proven Basic Excel VBA/Macro Skill.
Desired Qualifications:
Bachelor's degree in finance or commerce or recognized accounting qualification.
Experience of working in the banking industry required.
Posting End Date:
29 May 2025
*Job posting may come down early due to volume of applicants.
We Value Equal Opportunity
Wells Fargo is an equal opportunity employer. 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.
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 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-448636
