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Wells Fargo is seeking an Executive Director for the Clearing business. This role is a critical function within WFS FCM, as the business is required to cure all customer margin calls at the start of each business day. The candidate will manage intraday liquidity needs and oversee the funding lines required to maintain appropriate margin levels at the clearinghouses for both customer and firm activity. They will also help ensure the integrity of protected customer account balances.
Job Responsibility:
Lead highly complex initiatives for financial, client and risk management within Securities Product Management.
Identify the origination, modeling, portfolio management and all risk management including compliance and operational risk.
Lead the strategy and resolution of highly complex initiatives that require an in-depth evaluation.
Complete work in accordance with all risk management, compliance and business process expectations.
Provide vision, direction and expertise to more experienced leadership on implementing innovative and significant business solutions.
Make decisions requiring solid understanding of policies, procedures and compliance requirements.
Conduct due diligence and portfolio administration as necessary and provide research on relevant industry trends.
Collaborate and consult with peers, colleagues and mid-level to more experienced managers to resolve issues and achieve goals.
Lead projects, teams or serve as a peer mentor.
Requirements:
7+ years of Securities Product Management experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education.
Registration for FINRA Series 3 must be completed within 90 days of hire date if it is not available for transfer upon hire. FINRA recognized equivalents will be accepted.
This position is subject to FINRA background screening requirements. Candidates must successfully complete and pass a background check prior to hire.
Nice to have:
10+ years of experience institutional client financial services businesses.
Prior experience working in the Treasury or Finance functions of an FCM.
Working knowledge of Risk Control Self-Assessment (“RCSA”) programs.
Familiarity and understanding of the CFTC’s customer protection scheme for Cleared OTC and Listed Derivatives clients. Including cash placements and investment of customer funds.
In depth knowledge of the funding issues associated with the Listed Derivatives and OTC clearing business practices.
Demonstrated ability to maintain FCM’s funding and liquidity plan.
Strong written and oral communication skills.
Ability to form strong working relationships with clients, internal partners, Clearinghouses and settlement banks.
A sense of urgency with the ability to execute under pressure within tight time frames. Including a working knowledge of distributed ledger technology, including Tokenization and Digital Stable Coins.
What we offer:
Health benefits
401(k) Plan
Paid time off
Disability benefits
Life insurance, critical illness insurance, and accident insurance