External Financial Reporting Sr Consultant-Regulatory Data
- Minneapolis, MN
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At Wells Fargo, we want to satisfy our customers' financial needs and help them succeed financially. 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.
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 company's 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 company's shared services functions including corporate properties, security, and global services.
Enterprise Finance & Information Technology offers technology and services that exceed Wells Fargo customers' expectations and directly enable them to succeed financially. We interact with customers more than 12 billion times a year through in-store, online, ATM, and telephone transactions. We impact customers directly, through systems availability and security, as well as indirectly, through our business partners who offer and deliver a myriad of products and services that meet customers' financial needs. We provide a competitive advantage for the company through excellence in fundamentals, integrated partnerships, and our talented and engaged team members.
Let's talk about building a rewarding career
You've got the passion. You've got the skills. Now you just need the right opportunity. At Wells Fargo, you'll have the chance to join a team of intelligent and talented people who share the same values. Our diverse lines of business offer a world of opportunity to expand your capabilities and advance your career. We invest in our people and provide a supportive environment in which to learn and grow.
The Controller's Division is responsible for the Company's 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 Company's 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 Regulatory Data Requirements team resides 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 Regulatory Data Requirements team will be instrumental in achieving this goal. This team will provide the detailed data requirements and definitions as well as 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 underlying instructions at the line-item level across various regulatory reports.
The Position would be responsible for implementing the automated regulatory reporting solution for in-scope regulatory reports in coordination with business partners throughout the Controller's Division and corporate functions.
Components of Role
- Gain understanding of current state reporting processes, solicit and document Report Owner business requirements and assist with design of future state processes
- Maintain Data Dictionary and data definitions as well as ensuring data sourcing meets those requirements
- 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 & Insights, Change Management, and Regulatory Technical Interpretations) to improve the control environment
- 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
- 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
- Experience with OFSAA, AgileReporter or similar regulatory reporting solutions
- 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, equity investments, etc.
- Experience with bank capital calculations, processes, and reporting
- Ability to research and document issues in clear and concise memorandums
- Ability to convey key messages to senior leaders through PowerPoint presentations
- Experience with Agile methodology of project delivery
- CPA certification
- Experience with large financial institutions
- Ability to travel up to 15% of the time
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.
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