Equity Derivatives Confirmations Analyst 3
At Wells Fargo, we have one goal: to satisfy our customers' financial needs and help them achieve their dreams. We're looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you'll 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.
Wholesale Banking provides financial solutions to businesses across the United States and globally. Ournine major business lines include Business Banking, Middle Market Banking, Government and Institutional Banking, Corporate Banking, Commercial Real Estate, Financial Institutions Group, Wells Fargo Commercial Capital, Wells Fargo Securities, and the Investment Portfolio. We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses.
The WFS Confirmations team supports the documentation of credit, equity, commodity, and rates derivatives trading for Wells Fargo Securities. This team has offices in 1 international and 3 U.S. locations and supports nearly 5,500 clients across all businesses product lines and multiple legal entities. WFS Confirmations actions approximately 200 trades daily and is responsible for the management and documentation of all trade lifecycle activity.
- Principally responsible for final reviewing and verifying the accuracy and completeness of both in-house and counterparty-prepared confirmations for a variety of products and business lines, including commodity derivatives, credit derivatives, rates derivatives, and foreign exchange with particular emphasis on equity derivatives
- Responsible for minimizing financial losses by identifying and resolving trade capture errors, reconciling trade activity between system of record and any trade-related documentation, and ensuring all economic terms and necessary protective and fallback clauses are confirmed
- Serve as liaison with Equity line of business, internal legal and compliance departments in the development or revision of confirmation templates in compliance with existing and future regulatory requirements
- Cross-train and mentor other team members whether for on-boarding purposes or for developing a deeper understanding of novel, complex, and/or unique trade structures
- Responsible for supporting complex U.S. securities or over-the-counter (OTC) derivatives transactions
- Continue to be aware of and aid the team's compliance with regulatory, tax-related, and asset class-specific market developments by, among other activities, attending and participating in internal and ISDA-organized working groups
- Regularly seek opportunities to improve processes, controls, and procedures to improve efficiencies, deepen the team's understanding of products, and mitigate risk
- Partner with the project team to develop requirements for system enhancements and assist with user acceptance testing
- 4+ years of capital markets industry experience
- Extensive knowledge and understanding of loan, securities, and derivative products
- Intermediate Microsoft Office skills
- Strong analytical skills with high attention to detail and accuracy
- Excellent verbal, written, and interpersonal communication skills
- Effective organizational, multi tasking, and prioritizing skills
- Ability to work in a fast-paced deadline driven environment
- A BS/BA degree or higher in accounting, finance, or economics
- 4+ years of capital markets experience
- Ability to act as a subject matter expert
- Ability to coordinate completion of multiple tasks and meet aggressive time frames
- Ability to mentor and train less senior staff
- Ability to negotiate agreements or contracts
- Ability to review and understand ISDA Master and Credit Support Annex agreements
- Ability to work and influence successfully within a matrix environment and build effective business partnerships with all levels of team members
- Knowledge and understanding of OTC: confirmations drafting or reviewing
- Knowledge and understanding of reading and interpreting complex legal documents
- Knowledge and understanding of the trade settlement process
- Knowledge and understanding of analytical methods used to: reconcile, interpret, and present results
Other Desired Qualifications
- Strong, developed and deep understanding of derivative trading, product mechanics, and industry/market knowledge, including securities payment reset schedules and conventions
- Extensive knowledge of use and application of ISDA Definitions, regulatory requirements, and interdependence of various ISDA documentation in the preparation and review of ISDA confirmations
- Experience with Scrittura, or substantially similar confirmation platform, is a strong preference
- Experience with and understanding of Calypso, Imagine, Opics, Endur, and other mainframe trading and risk management systems
- Strong computer skills, including MS Office, Word, Outlook, Powerpoint and Excel
All 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.
0210365 WHOLESALE BANKING
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Lauren audits Wells Fargo’s financial reports to assess accuracy and risk. She reviews processes in place, analyzes management controls, and communicates calculations and findings with business partners.
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