Job Description

About this role:

Wells Fargo is seeking an Operations Director- Head of Reconciliations, Wholesale Lending Operations.

In this role, you will:

• Manage and develop multiple specialized teams of less experienced managers and professional individual contributors with focus on delivering highly complex tasks and risk services for cross functional stakeholders, internal partners associated with the function or affected by its outcome.
• Work with senior management to develop and execute business plans.
• Integrate efforts of cross department initiatives with core business objectives
• Identify opportunities and strategies for process improvement and risk control development within the Operations management functional area.
• Provide expertise on managing the most highly complex technical and operational processes with cross-group impact.
• Lead Operations management team by making strategic decisions to resolve highly complex issues to meet higher risk deliverables.
• Interpret and develop range of policies and procedures relating to Operational management area.
• Collaborate with and influence functional team on the operational processes and initiatives.
• Provide training and guidance to less experienced staff.
• Manage allocation of people and financial resources for Operations
• Develop and guide a culture of talent development to meet business objectives and strategy.

Required Qualifications:

• Lead a loan accounting and reconciliation teams across US, UK, India & the Philippines sites to ensure model is set up to deliver service to the required enterprise standards and control standards meets business expectations.
• Fully understand the accounting and reconciliation processes across CB/CIB and ensure there is adequate training and knowledge building within the team to support the business.
• Drive, motivate and develop the team and establish a culture of high performance, ownership, accountability, transparency, and sustained performance.
• Drive the team towards continuous process improvements, identifying opportunities for improving quality and accuracy, improving controls, ideas to eliminate waste and driving effective and efficient operations.
• Build and foster collaborative relationship with business partners and stakeholders. Ensure there is regular connection with key stakeholders to review performance, priorities, and other business initiatives.
• Build a strong operations rhythm where meritocracy and positive behavior is rewarded, there is adequate talent management and succession planning, and staff are encouraged to learn and grow.
• Be an active partner with the Transformation teams to ensure seamless delivery within the portfolio.
• Develop requisite reporting & business metrics to monitor and drive the right outcome for the business and LoB stakeholders.
• Demonstrate ability to challenge existing processes where they do not align with the Target Operating Model and suggest solutions to bring efficiencies in the process.
• Understand the cost of operations and continuously look at opportunities to drive the cost down without impacting the delivery.
• Maintain strong culture of control and conduct and ensure risk is managed proactively and all process have robust business resiliency which is reviewed and tested periodically along with LoB and risk partners.

Skills/Experience Required:

• 20+ years of experience with 8-10+ years in leading and managing operations in a global Banking / Financial Services environment, preferably supporting accounting or reconciliation function or operations.
• Strong experience in developing and implementing operations strategy and delivery model.
• Strong experience in managing people, developing strong performing teams and mentoring / coaching people to become leaders.
• Exhibits strong relationship / negotiation orientation with senior level business partners globally.
• Ability to work in a matrix environment and managing multiple competing priorities.
• Excellent Communication, planning and organizing skills.
• Excellent verbal, written, and interpersonal communication skills.
• Strong stakeholder management, networking and relationship management skills.
• Strong business orientation and understanding of operational risk.
• Passion for quality and improving controls and operational performance.
• Ability to drive change and transformation, project management & implementation in business operations.
• Demonstrates a high degree of reliability, integrity, and trustworthiness in all areas.
• Takes ownership and accountability for responsibilities, business outcomes, and for management of risk exposure.

Department Overview

Wholesale Lending Operations (WLO) within Wells Fargo is 4700 FTE team operating within Wholesale Operations supporting end to end of Lending Operations for both Commercial Banking and Corporate & Investment Banking businesses. The teams perform range of activities across the entire client lending life cycle covering origination and servicing of Asset based Lending and Leasing business loans, Trade Financing, Receivable loans, Syndicated loan operations, Bi-lateral loans and Agency services and further supported by shared operations such as cash application, loan accounting and reconciliations.

WLO has significant presence in India and the Philippines (I&P) with 35% of headcount based out of I&P sites. The teams within I&P sit under the Wholesale Operations CB/CIB business vertical supporting Commercial Banking & Corporate & Investment banking business across number of key operational activities. The team undertakes variety of operations involving all stages of client lifecycle across onboarding and servicing and involves deal closing, boarding and funding, financial statement spreading, covenant compliance, cash management, loan accounting, customer account onboarding & servicing, , collateral management, loan servicing and reconciliations. These operations support all of Commercial Banking business i.e. Middle Market, Secured Lending and Leasing Capital, Trade & Receivable Finance, Commercial Real Estate and Syndicated Loans portfolio.

Role Context

This is a senior role as a global process lead for Financial Reconciliation function within Wholesale Lending Operations (WLO) reporting to the Head of Shared Services in the US and to the head of WLO in India. The role involves taking ownership and accountability of the Financial Accounting & Reconciliation function of 50-60 FTE globally and facing off to multiple teams / stakeholder groups while also managing multiple teams, across US, UK and I&P. The function covers financial accounting and reconciliation of multiple loan accounting portfolios across the lending space with teams in India being an integral part of the function. Given the expansion and maturity of I&P teams supporting wholesale lending business over last few years, the role is being based out of I&P. The role is expected to further build and develop the financial accounting and reconciliation capability through enhanced coverage pf the businesses, driving operations strategy, driving continuous process improvement including enhanced break resolutions, strengthening controls and operational integrity of the financial accounting processes. This is a new role in I&P and will lead an existing team and work closely with the Shared Services Operations Leader. The individual will further expand and deepen the capability across WLO and strengthen the functional capabilities, increase engagement with stakeholder groups, and work closely with the leadership team to establish and maintain sustained delivery standards and strong controls. The incumbent in this role is expected to demonstrate significant leadership as part of the Shared Services Operations global leadership team, build the required operating model, ensure there is robust understanding of process and its complexities including the businesses being supported and can maintain the strong standards while mitigating the risk associated within the process. With WLO being part of wider Wholesale operation, the incumbent will be expected to look at reconciliation more widely across wholesale and bringing it under a single structure and drive increased consistently and rigour. individual will be required to maintain strong engagement with multiple functions/stakeholders, take ownership of the delivery and getting the processes to a steady state. This will require the incumbent to remain hands on, fully understand the scope of the work, and establish adequate governance and oversight.

Key Responsibilities

• Lead a loan accounting and reconciliation teams across US, UK, India & the Philippines sites to ensure model is set up to deliver service to the required enterprise standards and control standards meets business expectations.
• Fully understand the accounting and reconciliation processes across CB/CIB and ensure there is adequate training and knowledge building within the team to support the business.
• Drive, motivate and develop the team and establish a culture of high performance, ownership, accountability, transparency, and sustained performance.
• Drive the team towards continuous process improvements, identifying opportunities for improving quality and accuracy, improving controls, ideas to eliminate waste and driving effective and efficient operations.
• Build and foster collaborative relationship with business partners and stakeholders. Ensure there is regular connection with key stakeholders to review performance, priorities, and other business initiatives.
• Build a strong operations rhythm where meritocracy and positive behavior is rewarded, there is adequate talent management and succession planning, and staff are encouraged to learn and grow.
• Be an active partner with the Transformation teams to ensure seamless delivery within the portfolio.
• Develop requisite reporting & business metrics to monitor and drive the right outcome for the business and LoB stakeholders.
• Demonstrate ability to challenge existing processes where they do not align with the Target Operating Model and suggest solutions to bring efficiencies in the process.
• Understand the cost of operations and continuously look at opportunities to drive the cost down without impacting the delivery.
• Maintain strong culture of control and conduct and ensure risk is managed proactively and all process have robust business resiliency which is reviewed and tested periodically along with LoB and risk partners.

Skills/Experience Required:

• 20+ years of experience with 8-10+ years in leading and managing operations in a global Banking / Financial Services environment, preferably supporting accounting or reconciliation function or operations.
• Strong experience in developing and implementing operations strategy and delivery model.
• Strong experience in managing people, developing strong performing teams and mentoring / coaching people to become leaders.
• Exhibits strong relationship / negotiation orientation with senior level business partners globally.
• Ability to work in a matrix environment and managing multiple competing priorities.
• Excellent Communication, planning and organizing skills.
• Excellent verbal, written, and interpersonal communication skills.
• Strong stakeholder management, networking and relationship management skills.
• Strong business orientation and understanding of operational risk.
• Passion for quality and improving controls and operational performance.
• Ability to drive change and transformation, project management & implementation in business operations.
• Demonstrates a high degree of reliability, integrity, and trustworthiness in all areas.
• Takes ownership and accountability for responsibilities, business outcomes, and for management of risk exposure.

Posting End Date:
28 Jan 2024
*Job posting may come down early due to volume of applicants.

We Value Diversity

At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.

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 US: 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.

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 .

Drug and Alcohol Policy

Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.