EMEA XVA Middle Office Risk and PnL, Wells Fargo

Wells Fargo

Location:
United Kingdom, City of London

Category:
Finance

Contract Type:
Not provided

Salary:

Not provided

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Job Description:

Wells Fargo is looking for an experienced middle office professional who is well-versed in trade lifecycle management across Rates and FX, Credit (CDS), and Cash products (bonds). The ideal candidate will provide comprehensive trade support to all traders and sales teams, ensuring adherence to middle office procedures. Responsibilities include Intra-day Risk and P&L reporting, investigating any discrepancies in P&L, trade capture of in-scope derivatives for XVA Risk and NPV, lifecycle maintenance, and generating PnL and risk impacts on day trades. Additionally, the role involves capturing hedge trades to mitigate market risk related to the XVA business. The candidate will handle Start of Day Market Risk for Trading, aid in risk management, and provide PnL attribution by the End of Day. Wells Fargo values efficient candidates who can uphold these responsibilities and enhance the smooth operation of their trading activities.

Job Responsibility:

Provide full trade support cover for all traders/sales teams in a controlled manner by following all MO procedures
Intra-day Risk and P&L reporting, investigation of discrepancies between reported and posted P&L
Trade capture of in-scope derivatives for XVA Risk and NPV, lifecycle maintenance and production of PnL and Risk impacts on daytrades
Trade Capture of hedge trades executed by the desk to manage market risk associated with the XVA business
Production and review of Start of Day Market Risk for Trading to risk manage from and generate PnL attribution from at End of Day
End of Day PnL production and attribution on portfolio, result validation with Traders, and investigation of discrepancies
Ownership of operational controls on XVA portfolio and corresponding reconciliations
Key Partner to other control and operations functions including Market Risk Oversight, Enterprise Capital Risk Management, Finance and Technology
Project leadership on transformational work in XVA space to meet business needs, and changing regulatory requirements
Understanding of Market Linked Notes and SPV Repack booking process
Act as the link between business requirements and technology solutions
Participation in system upgrades / testing
Liaise with Risk and Product Control Departments to resolve any discrepancies between Middle Office and other reports produced elsewhere
Have a high level of attention to detail to ensure all trades checked before verified on trade date
Ability to work with team members and business partners across the bank
Contact teams internally or externally (ie the client) to solve in a timely manner any break or issue that may appear on a trade
Monitoring of daily trading exception reports
Resolution of trade queries
Run, analyze and solve breaks of front to back reconciliations
Work closely with Settlements/Payments functions
Project work/Ad hoc management requests
Enhancement of the control framework around the daily processes
Maintenance and enhancement of governance documents (e.g. Process flows and procedures)
Fact finding for any issue and help escalation to Management
Ensure all Initiatives are captured on the teams BOW and is updated
Team player and must show flexibility for working early morning or late shifts

Requirements:

Candidates must have a strong academic background and experience in a Middle Office or Product Control position
Analytical with strong verbal and written communication skills
Understanding of trade lifecycle across the Rates and FX, Credit (CDS) and Cash products (bonds)
Ability to work across multiple regions
Must have advance Excel skills and coding skills (VBA/ Python) experience
Confident and the ability to work under pressure of a trading floor and deliver on strict deadlines
Good interpersonal and networking skills to help close out issues
Experience of change management
High level of attention to detail
The ability to operate and enhance the team to work in a highly controlled manner and ensuring all processes/procedures are documented
Proactive and the ability to take ownership and lead initiatives/projects to close
Team Player with good communication skills and demonstrate a high level of transparency towards working as one strong team
Experience in Capital Markets middle office, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Nice to have:

Degree in quantitative subject preferred
Previous experience of working in FX, Rates, XVA or Exotic rates/credit as Middle Office
Knowledge on systems Calypso, Catalyst

Additional Information:

Job Posted:
April 30, 2025

Expiration:
May 15, 2025

Employment Type:

Fulltime

Work Type:

On-site work

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EMEA XVA Middle Office Risk and PnL