Operations Accountant for Loan Accounting
Wells Fargo
Makati, Philippines
1d ago

About the Role

The SOA External Debt Accounting Team supports $100 billion of external debt and deposit products issued by Wells Fargo & Co.

and Wells Fargo Bank, NA and any derivatives hedging those products. This team has accounting and operations responsibilities from trade initiation through expiration or maturity and this includes onboarding of new trades, maintenance of existing trades (such as payment of dividends or interest, calls, early expiration or buybacks) and recording of all required accounting entries to General Ledger.

The Financial Reporting & Analysis Analyst 2 is responsible for providing product support for all external debt, deposit products and any derivatives hedging those products that reside in multiple system applications.

This requires an understanding of these products to compile and analyze financial information to prepare entries to accounts, such as general ledger accounts, and document business transactions.

Successful candidate will work directly with a variety of individuals including front office traders, middle office trade clearance personnel and accountants within the SOA team.

The position requires a great attention to detail and must ensure time sensitive maintenance is performed accurately.

Responsibilities :

  • Handle Middle Office GL accounting for cash collateral and performs monthly reconciliation. This includes generating cash collateral backdated movement report in Wallstreet, realizing accrued interest on relevant deals, creating of new deals / transactions / , responding to email inquiries and fixing existing trades / movements, reviewing exception and resolving of failed cash collateral transactions from one system to another.
  • Process deals / movement requests and produces month-end reporting for monthly reconciliations.
  • Complete requests for funds blocking / seizing and / or releasing from authorized WF team members on the Global Sanctions Screening and Reporting Group in Wallstreet Suite.
  • Complete requests that come through the Reg W website and Treasury 23A / B for new allocation requests, allocation change requests, termination requests for existing allocations, and run final, reconciliation and billing reports.
  • Handle rate fixing and / or monitoring of daily interest and rate updates, or correct rate from Bloomberg.
  • Send payment confirmation to relevant counterparties and sendingthe payment requests to Affiliate Cash and Corporate Cash inboxes.
  • Responsible for CAD reconcilement on a quarterly basis for forecasting amortization.
  • Produce various monthly and quarterly reports to comply with the business needs.
  • Responsible for archiving of transactions such as Foreign Account Tax Compliance Act (FATCA) reports,withholding and housekeeping.
  • Handle FATCA forms review and processing of FATCA mails in the Treasury Ops inbox.
  • Market Skills and Certifications

    Essential Qualifications :

  • Must be a CPA
  • 1-2+ years of experience in Accounting preferably related to Derivatives, Capital Markets, Trade Reconciliation and Validation and knowledgeable in US financial services and US Regulatory Reporting.
  • Relevant years of reporting experience, analytics experience, a combination of both or the month end general ledger close process.
  • Experience with Wallstreet and Bloomberg is a plus.
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