Middle Office - Transaction Reporting Analyst
Wells Fargo provides middle market, large corporate and financial institution customers with a range of international solutions, including treasury management, credit, payments, financing, foreign exchange, and trade services. Wells Fargo operates from 42 countries and territories outside of the U.S., including branches in Ireland, Beijing, Cayman Islands, Dubai International Financial Centre (DIFC), Hong Kong, London and Seoul.
About the Department:
The Transaction Reporting Team resides within the London Middle Office. Regional trading volume growth, expansion into new markets and the increasing rigor of regional regulations has led to the expansion opportunities for the team.
The transaction reporting function are responsible for the EMIR RTS 2.0, MiFID II and Bank of Italy transaction reporting and exception management processes in partnership with our Technology team, as well as providing support for regulatory change projects within the EMEA region.
Overview of the Position:
The role will primarily be responsible for the accurate and timely submissions of our regional transaction reporting obligations to the respective competent authorities, however the role will also include support of change management projects and processes as a result of the ever-changing regulatory landscape.
These initiatives would include streamlining of MiFID II & EMIR RTS 2.0 processes, as well as enhancements to internal infrastructure to support current regulatory requirements. This role is appropriate for an experienced regulatory reporting SME.
The successful candidate will be expected to:
• Perform the daily exceptions management process in a timely and accurate manner to meet Wells Fargo's reporting obligations.
• Further enhance the control framework around transaction reporting processes
• Maintenance and enhancement of governance documents (eg. Process flows and procedures)
• Provide analytical support to regulatory change projects.
• Act as the link between business requirements and technology solutions.
• Co-ordinate testing support to regulatory change projects with local SMEs.
• Work with Traders and Salespeople to work through potential trade issues and violations.
• Work with Compliance and Legal team partners on rule interpretations for regulatory change.
• Delivery timely and accurate MI to Operations & Compliance management.
• Issue Management and write ups.
• Liaise with senior regional stakeholders through Senior Stakeholder meetings.
Market Skills and Certifications
The successful candidate will be self-motivated and have experience in transaction reporting operations, covering MiFID and EMIR, and be able to demonstrate a working knowledge of both the regulations and reporting methodologies.
- Knowledge of transaction reporting operations including EMIR, MiFIR/MiFID I & II requirements.
- Ability to understand and translate regulatory rule changes and map to requirements.
- Working product knowledge in OTC Derivatives/Fixed Income and Equities spaces.
- Experience of working with project stakeholders to deliver change.
- Proven track record of process improvements and project delivery.
- Solid communication and organisational skills - to work with local and remote Operations, Technology and Compliance stakeholders.
- Proficient with Microsoft Excel (VBA preferred).
Wells Fargo team members 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. As a Wells Fargo team member, you 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.
Meet Some of Wells Fargo's Employees
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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