LIBOR Transition Office - Senior Analyst (Treasury Finance Senior Consultant) in San Francisco, California | DiversityInc Careers
 
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LIBOR Transition Office - Senior Analyst (Treasury Finance Senior Consultant)

Job Description

At Wells Fargo, we want to satisfy our customers’ financial needs and help them succeed financially. We’re looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you’ll feel valued and inspired to contribute your unique skills and experience.

 

Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.   

 

Enterprise Finance & Information Technology offers technology and services that exceed Wells Fargo customers’ expectations and directly enable them to succeed financially. We interact with customers more than 12 billion times a year through in-store, online, ATM, and telephone transactions. We impact customers directly, through systems availability and security, as well as indirectly, through our business partners who offer and deliver a myriad of products and services that meet customers’ financial needs. We provide a competitive advantage for the company through excellence in fundamentals, integrated partnerships, and our talented and engaged team members.  

 

London Interbank Offered Rate (LIBOR) is the term often used to refer to one of a series of benchmark interest rates of varying tenors and currencies that underpin more than $300 trillion of financial contracts including derivatives, home mortgages, corporate loans, student loans and securitizations. While significant improvements have been made to LIBOR since April 2013, the absence of active underlying markets raises questions about the sustainability of the LIBOR benchmarks that are theoretically based upon these markets. In light of these challenges the Federal Reserve, in cooperation with the Treasury Department and the Commodity Futures Trading Commission, convened the Alternative Reference Rates Committee (ARRC) to work with market participants to identify options for replacing US Dollar LIBOR. Similar committees exist or are being formed worldwide to address non-US Dollar LIBORs. Last summer the UK’s Financial Conduct Authority emphasized the urgency and importance of the efforts and implored industry participants to work in earnest on the transition to alternative reference rates that are based firmly on transactions.  

As one of the largest LIBOR lenders in the world, the transition from LIBORs to a new series of benchmark rates will be a significant undertaking for Wells Fargo as it will impact almost every line of business and nearly all of our customers.

Given the wide-ranging impact, Wells Fargo’s Operating Committee has directed the establishment of a LIBOR Transition Office (LTO) that will be charged with developing and executing a coordinated strategy to transition the numerous LIBOR-based products and processes across the enterprise. Among other things, the LTO will ensure Wells Fargo is appropriately represented on all of the industry groups and regulatory committees related to the transition; that we communicate clearly and proactively with our customers and other stakeholders; and that we manage the accounting, financial, and legal risks related to the transition.

Job Description/Responsibilities

The LTO Senior Analyst will support all aspects of the LTO, including preparing and reviewing analyses relevant to the impact of the transition away from IBORs. Sample analysis would include asset sensitivity, cost of funds impact and legacy exposure runoff. Consistent with the wide-reaching impact of IBOR transition, the LTO has an extremely broad mandate and the Senior Analyst should anticipate being involved in nearly every aspect of it. Achieving best-in-class transition will require extensive coordination and reporting, much of which will be prepared or directly by the Senior Analyst.



Required Qualifications

  • 6+ years of experience in one or a combination of the following: finance, accounting, analytics and reporting; or a BS/BA degree or higher in Finance, Accounting, Statistics, Economics, Business and 4+ years of experience in one or a combination of the following: finance, accounting, analytics or reporting



Desired Qualifications

  • A Master's degree or higher in accounting, finance, or economics
  • Strong financial modeling skills
  • Strong quantitative and qualitative analysis skills
  • Corporate finance experience
  • Financial accounting experience
  • Advanced Microsoft Office (Word, Excel, Outlook and PowerPoint) skills



Other Desired Qualifications
  • Energetic professional who is flexible, conscientious and has a demonstrated ability to work in unstructured environments, think abstractly, develop an independent point of view and problem solve
  • Ability to interact confidently and professionally with all levels of personnel in front, middle and back office functions
  • Ability to synthesize and effectively communicate complex concepts to a variety of audiences through excellent written and presentation skills
  • Detail-oriented, ability to handle/prioritize multiple assignments and willing to work significant hours, when necessary




Disclaimer


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.


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