Logo of Huzzle

Home

Matches

Explore

Manage

Institutional Investment Operations Associate

image

Wells Fargo

10d ago

  • Job
    Full-time
    Entry Level
  • Banking & Finance

AI generated summary

  • You need 6+ months in Institutional Investment Operations, knowledge of BSA/AML regulations, client lifecycle, trade processing, and strong analytical skills. A degree in Finance/Accounting is preferred.
  • You will support institutional trade operations, assist with client onboarding, validate customer info, manage AML risks, and collaborate with teams for process improvements and compliance.

Requirements

  • Required Qualifications:
  • 6+ months of Institutional Investment Operations experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
  • Desired Qualifications:
  • Strong Knowledge of the banking regulatory reporting rules and regulations including BSA, AML, and Patriot Act
  • Understanding of client lifecycle activities, such as corporate actions including merger events
  • Extensive knowledge and understanding of loan, securities and derivative products
  • Advanced knowledge of trade processing life-cycle
  • Knowledge of the Microsoft applications including Excel, Access Database and Tableau
  • Ability to research, compile, and perform complex analysis on critical operational data
  • Ability to work in a fast-paced, team oriented environment
  • Strong analytic ability, with high attention to detail, accuracy and strong problem solving skills
  • Ability to communicate (written/verbal) effectively at all organizational levels
  • Excellent Interpersonal skills - ability to build relationships
  • Ability to plan and organize workload within tight deadlines, meeting day-to-day objectives as well as longer term strategic goals
  • Perform analysis of, and make recommendations on functionality/efficiency of established controls and processes to ensure appropriate risk based operational procedures are in place and are meeting regulatory requirements/expectations
  • Job Expectations:
  • Bachelor's degree in Accounting, Finance, or a business-related field is preferred
  • Previous experience in Operations and/or Financial Services industry or relevant work experience in one or a combination of the following: business operations, regulatory oversight, AML/KYC, Client Onboarding, US tax regime & compliance
  • Understanding of client onboarding documentation, including working knowledge of requirements driving KYC/CDD/EDD, AML, Tax, regulatory & ISDA documentation
  • Ability to independently research and analyze regulatory reporting requirements and other financial documents
  • Strong multi-tasking abilities in a high performance, high demand environment
  • Familiar with market utility vendors such as Markit, Lexis-Nexis, SNL and others to collect and analyze client onboarding documents and requirements
  • Ability to communicate (written/verbal) effectively at all organizational levels
  • Ability to plan and organize workload within tight deadlines, meeting day-to-day objectives as well as longer term strategic goals
  • Perform analysis of, and make recommendations on functionality/efficiency of established controls and processes to ensure appropriate risk based operational procedures are in place and are meeting regulatory requirements/expectations

Responsibilities

  • Provide operational and customer support for lifecycle tasks for institutional trades
  • Assist with client account onboarding, input and monitoring of cash payments, customer service, funding operations, custodial operations, securities settlement services, asset servicing structured loan operations, general ledger reconciliation and work to resolve confirmation and ISDA related issues
  • Assist in gathering data to support resolution of issues
  • Receive direction from manager and exercise judgment within defined parameters of the area while developing understanding of various functions, policies and procedures
  • Collaborate and consult with peers, colleagues and managers to resolve issues and achieve goals
  • Work closely with Client Facilitation team to complete the smooth onboarding of clients
  • Gather client documentation from public sources or via the Front Office
  • Review and validate customer information to ensure adherence to Customer Identification Program (CIP), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) requirements
  • Upload data and client documentation into the CIP/CDD onboarding workflow tool and/or System of Record
  • Escalate to CIB Heightened Customer Risk Team / 2nd Line of Defense Compliance teams for review and approval, where required
  • Coordinate onboarding cases through the various internal stakeholder teams
  • Maintenance and enhancement of governance documents (e.g. Process flows and procedures)
  • Work with Governance and Compliance teams to implement changes to policies and procedures
  • Deliver timely and accurate Management Information system information for Operations management
  • Reviewing and validating customer information to ensure adherence to Customer Identification Program (CIP), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) requirements
  • Providing AML guidance and escalation to LOB stakeholders for complex accounts and relationships
  • Coordinating and managing day-to-day evaluation of AML risks throughout customer lifecycle process
  • Updating procedures related to BSA / AML program
  • Documenting process improvements and creating / managing action plans
  • Participating in projects and initiatives to identify, assess, and mitigate BSA/AML risk in business activities

FAQs

What is the primary responsibility of the Institutional Investment Operations Associate?

The primary responsibility is to assist with the development of consistent AML/KYC, Compliance, and Operational Risk analysis, manage technology risk, perform CIP verification, review Customer Due Diligence, and collect Enhanced Due Diligence for higher risk clients.

What qualifications are required for this role?

A minimum of 6 months of Institutional Investment Operations experience or equivalent demonstrated through work experience, training, military experience, or education is required.

Is a bachelor's degree necessary for this position?

While a bachelor's degree in Accounting, Finance, or a business-related field is preferred, it is not explicitly required for the position.

What skills are desired for the Institutional Investment Operations Associate role?

Desired skills include strong knowledge of banking regulatory reporting rules, understanding of client lifecycle activities, knowledge of loan, securities, and derivative products, proficiency in Microsoft applications, strong analytical abilities, and excellent interpersonal and communication skills.

Will the candidate need to work with internal stakeholders?

Yes, the role requires coordination and collaboration with various internal stakeholder teams to ensure smooth onboarding of clients and effective issue resolution.

What type of environment will the candidate be working in?

The candidate will work in a fast-paced, team-oriented environment that requires strong multi-tasking abilities.

What type of analysis will the Associate be responsible for?

The Associate will perform complex analysis on critical operational data to recommend functionality/efficiency of established controls and processes to ensure they meet regulatory requirements and expectations.

Are there opportunities for professional growth within this position?

Yes, participation in projects and initiatives to identify, assess, and mitigate BSA/AML risk will provide opportunities for professional growth and development.

What kind of experience with regulatory compliance is beneficial for this role?

Experience in regulatory oversight, AML/KYC, and familiarity with requirements driving KYC/CDD/EDD, AML, Tax, and relevant documentation is beneficial.

What is Wells Fargo's stance on diversity and inclusion in hiring?

Wells Fargo values diversity, equity, and inclusion, welcoming applications from all qualified candidates regardless of various protected statuses.

Wells Fargo

Finance
Industry
10,001+
Employees
1929
Founded Year

Mission & Purpose

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with approximately $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through more than 7,300 locations, 12,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in over 40 countries and territories to support customers who conduct business in the global economy. With approximately 250,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories. 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. © 2016 Wells Fargo Bank, N.A. All rights reserved. Member FDIC.