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Lead Securities Operations Representative

The Wells Fargo Foundation
Bangalore Bengaluru Karnataka, Karnataka, India
Competitive Salary
Closing date
Feb 12, 2024

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Job Role
Contract Type
Full Time
  • Wells Fargo India solutions enables global talent capabilities for Wells Fargo Bank NA., by supporting over half of Wells Fargo's business lines and staff functions across Technology, Operations, Risk Services and Knowledge Services. EGS operates in Hyderabad, Bengaluru and Chennai in India and in Manila, Philippines. Learn more about EGS at our .Department OverviewWealth & Investment Management (WIM) is one of the nation's leading providers of financial and investment services in the United States offering a full range of products and services to meet clients' unique needs and help them achieve financial goals. It consists of six different lines of business, one of which is Wells Fargo Advisors group. Within WFA, this requirement is with Brokerage Operations. About the RoleWells Fargo Brokerage Ops is seeking for a candidate to perform various back office functions, which involves Credit Monitoring & Reporting and Priority Credit Line (PCL) Operations. This candidate will be primarily responsible for executing the production work with minimal supervision. Process deals with stringent cutoffs and tight deadlines on a daily basis so the candidate should possess the sense of urgency and willing to go beyond the expectations.Primary ResponsibilitiesIs responsible for performing a variety of operational tasks for highly complex securities or cash related transactions or processes that require good knowledge of unit functions and systems. Duties may include:
  • Priority Credit Line (PCL) is a securities-based lending product clients can use for personal or business needs
  • Responsible for reviewing documentation is in good order for establishing new PCL relationships, modifying existing PCL relationships, and trust conversions related to existing PCL relationship.
  • Team is also responsible for booking documents and updating account registrations. This also entails processing of PCL payoff letters.
  • Review disbursements from PCL loans according to specific procedures to ensure that the usage of loan proceeds complies with regulatory requirements.
  • Review banking activity for which there are insufficient funds in the account to cover and work with the business channel for resolution and payment/rejection.
  • Monitoring for compliance with regulatory and/or internal policy requirements, and following up on situations (margin calls) where the existing collateral is insufficient to meet either internal policy or regulatory requirements.
  • Involves communicating and coordinating with the appropriate business channel to understand how the debit will be covered and, if needed, writing off the debit to the business channel if not covered within the defined time frames
  • Responsible for managing the account titling/pledging, any related collateral releases while pledged, and removing the pledge when instructed.
  • Activities also includes Monitoring Accounts for Margin Agreements, Executing Preferred Interest Rates, Facilitate Employee Stock Option Plan Transactions, Account Restriction Management, Monitoring Day Trade Activity and Bulk Asset Movements
  • Performs a variety of operational tasks which high complex in nature.
  • To be able to escalate any discrepancies/issues to the supervisors in a timely fashion.
  • Good understanding of market participants like custodian, clearinghouse, brokers, Investment Managers, exchange etc.
  • Leads and/or participates in production improvement efforts and addresses procedural impacts.
  • Provides management level reporting including service quality, volume tracking, and/or staff performance.
  • SME of the process/look after the overall process delivery
  • Make sure all the functions are cross trained appropriately and all the function have backups to manage the staff leave management

    Essential Qualifications:
  • 7-8 years of Securities/Custody/Investment banking experience, preferably on Credit Margin and Priority Credit Line of Business.
  • Understands the functionalities of US capital markets and various products like stock/equity, mutual fund, bonds etc.
  • Detail-oriented with very good problem solving abilities
  • Performs a variety of operational tasks for moderately to complex level
  • Commerce Graduate with CA/CFA/ICW/ /MBA preferably in Finance vertical

    Desired Qualification:
  • Very Good problem solving and analytical skills and numerical skills
  • Must to have experience of interacting with US customers.
  • Working Hours: 6:30pm to 3:30am
  • Work


Posting End Date:

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Skills: Credit Monitoring, Bonds, Securities, Risk Mitigation, Regulatory Compliance, Equity, Stock, Mutual Fund, Cash, margin, Capital Markets, Reporting

Experience: 7.00-8.00 Years

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