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Accounting Manager 3

Job Description

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.8 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through 8,700 locations, 13,000 ATMs, the internet ( and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 30 on Fortune’s 2015 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.

Wells Fargo Securities resides within the Wholesale segment of Wells Fargo and consists of the institutional broker dealer and investment banking activities, along with primarily all of the trading activity of Wells Fargo. The Wells Fargo Securities controller group consists of approximately 20-25 individuals with varying degrees of skillsets. This group is dedicated to process control improvement and the betterment of corporate reporting for SEC and regulatory filings as well as legal entity reporting for institutional broker-dealers. The controller group works closely with the Finance team to compile SEC and regulatory reporting. The department has been in existence for several years but is in process of increasing its technical accounting depth and bandwidth given the increased level of regulation, new product development, and increased control standards. This position is an important aspect to the success of this initiative.

This role will act as a liaison between the Business Unit Senior Leaders, Group Finance Officer team, front office personnel, and the Corporate Controllers Division. Primary responsibilities include ensuring that financial accounting procedures and controls are in place and operating effectively and that the overall system of internal controls provides reasonable assurance as to the integrity and reliability of financial data. A candidate in this role is required to have a strong understanding and knowledge of the group’s products and services and the underlying processes, systems and other support partner functions (operations, technology, compliance, risk management, legal, etc.) supporting their business and customers. The position also requires a detailed knowledge base in broker-dealer activities, operations, and monthly/annual regulatory reporting requirements including FOCUS filings and regulatory reporting, and industry specific issues.

This role provides technical expertise regarding accounting issues, SEC reporting and regulatory information and research. Areas of duties include providing technical assistance on major transactions and product development, reviewing SEC disclosure and regulatory reporting information, communicating practices and procedures for proper financial control, working on implementation of new or revised accounting standards, ensuring compliance with Corporate Controllers accounting and governance policies and procedures, ensuring the monthly close is effective by analyzing the income statement/balance sheet/yields, ensuring compliance with GAAP, monitoring of system conversations, and working with Internal/External Auditors and Federal Reserve/OCC regulators on exams. This role applies extensive specialized knowledge and acts as an internal consultant or final authority in area of expertise.

In addition to the above, this position will be responsible for the following:

  • Maintain regular interaction with front office and finance personnel regarding technical accounting matters and discuss/review new products for controller group approval.
    • Technical accounting matters generally consist of consolidation, transfer accounting, fair value, derivative determination, bifurcation of embedded derivatives, hedge accounting, and balance sheet netting.
  • Document highly technical accounting policy memorandums that are concise and clear for senior management and Corporate Accounting Policy review.
  • Financial review and oversight of three institutional broker-dealers including management of annual audits and financial statement compilation
  • Day to day management of ledger entries and providing accounting insight to business, operations, and finance personnel related to these broker-dealers among other product of Wells Fargo Securities
  • Provide product and accounting training to the larger controller group of Wells Fargo Securities
  • Represent Wells Fargo Securities within applicable industry groups and accounting related industry initiatives.
  • Perform corporate level SEC and Regulatory reporting relevant to products within business lines inclusive of but not limited to equity sales and trading, commodities trading, municipal trading, and other products within the broker dealers such as repos, securities lending, and credit trading, as applicable.
  • Obtain (if not already held) appropriate licensure for broker-dealer reporting
  • Management of other team members and responsible for the work product and efficiency of the team.
Required Qualifications

  • 5+ years of accounting experience
  • 3+ years of management experience

Desired Qualifications

  • A BS/BA degree or higher in accounting
  • CPA-Certified Public Accountant designation
  • Strong analytical skills with high attention to detail and accuracy
  • Advanced Microsoft Office skills
  • Excellent verbal, written, and interpersonal communication skills
  • General ledger experience
  • Big four public accounting experience

Other Desired Qualifications
  • Previous oversight of or audit of broker-dealer financial statements
  • Ability to compile and review broker-dealer financial statements including regulatory reporting of monthly and annual reporting requirements
  • Strong technical accounting experience/understanding required in some or all of the following:
    • Consolidation
    • Financial instrument transfers
    • Derivatives and hedging
    • Fair value
    • Broker-dealer specific accounting topics
      • Inventory accounting
      • Soft-dollar arrangements
      • Trade date vs. settlement date accounting
      • Revenue recognition
  • Ability to research and document GAAP issues in clear and concise memorandums
  • SEC & Regulatory Reporting and Accounting Policy Experience
  • Broad Capital Markets product knowledge throughout the industry inclusive of investment banking, asset-backed financing, non-marketable equity investments, etc.
  • Ability to lead, organize, and manage projects beginning to end that require coordinated efforts across multiple functions (e.g., legal, operations, front-office, finance, corporate, etc.)
  • Product knowledge in some or all of the following areas (derivatives, repurchase agreements, securities lending, commodities, cash equities trading, credit trading, securities, etc.)

    All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.

    Relevant military experience is considered for veterans and transitioning service men and women.

    Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.