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Operations Accountant 1 Description

Zoek Pin Pakhru-in, Kangra, Himachal Pradesh


Permanent (Full time)

Posted 40 days ago

WFIP enables global talent capabilities for Wells Fargo Bank NA., by supporting over half of Wells Fargo's business lines and staff functions across Technology, Business Services, Risk Services and Knowledge Services. WFIP operates in Hyderabad, Bengaluru and Chennai in India and in Manila, Philippines. Learn more about WFIP at our International Careers website. About Department The Business Information Support team will be responsible for supporting the work around Commercial Banking Operations' metrics, communicating results around Operational Excellence and Quality Control. Other responsibilities include strategic planning and reporting around Capacity and Premises, Management Reporting, and other administration efforts to support Commercial Banking Operations. About the Role Responsible for providing reconcilement support to all of the Lines of business groups within CB and CIB Operations across APAC, EMEA, USA & Canada. The reconciliation includes Detailed Nostro/GL; Subsystem; Cash Substantiation; FX Position; Supplemental (Multiple System Data comparison) and SWIFT Messages/Payments. Team Members will closely work with multiple departments/stakeholders (Finance, Operations, Static Data, Production Support, Technology, etc.) across globe to identify efficiencies and establish the necessary key controls to capture all risk related items specific to Wells Fargo . CB and CIB Operations. Responsibilities Perform daily detailed reconciliation for a variety of CB & CIB business products like Nostro/Vostro, Payments Services, Trade Finance, Foreign Exchange, CDF, CRE, Treasury etc. Perform an end of day balance reconciliation between the Subsystem (. Flexcube, Midas , Loaniq, Tradeworks, RFX, IBIS) and General Ledger. Ensure the daily market fluctuation of a foreign asset/cash accurately recorded within the corporate GL, in US Dollars (Cash Substantiation). Review currency exposure or foreign exchange (FX) risk on the position level and report the valuation results on a regular basis (daily or monthly) based on an internationally accepted accounting principle. Investigate and escalate outstanding items as per accounting standard policy and OOB conditions on timely manner. Review and Approve documentation for aged items that exceed corporate standard Assist with Books and Records month end close for the reconciliation includes detailed Nostro/GL; Subsystem; Cash Substantiation; FX Position; Supplemental (Multiple System Data comparison); Balance Sheet/P&L Certification Prepare and Review Monthly attestations/ QSA (Quality Self-Assessment) report timely manner Assist with Audit and Operations inquiries and will keep the manager aware of any concerns or special requirements. Follow up on inquiries submitted by various lines of business for resolution or escalation Work closely with Oversight, Technology and Production Support team to resolve the issues/breaks. Essential Qualifications Bachelor degree in Commerce or Master in Business Administration with finance stream. 0-2 years of overall experience in banking industry required. Knowledge of Corporations Accounting and Controls standards and policies Broad Banking/Financial services experience. Experience in performing various reconcilements such as Cash/Nostros, Suspense and Subsystem. Proven understanding of accounting fundamentals as it relates to Nostros/Cash, Suspense and Subsystem reconcilements. Ability to research and report on a variety of issues using problem solving skills Proven ability/proficiency with the use of various types of automation. Ability to work both independently as well as within a team environment Thorough knowledge on Nostro/Vostro, Foreign Exchange, SWIFT Effective oral and written communication skills. Ready to work in Variable hours shift Mon-Fri, Start between 530 AM ending 330 AM IST (Next Day) We Value Diversity At Wells Fargo, we believe in diversity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national or ethnic origin, age, disability, religion, sexual orientation, gender identity or any other status protected by applicable law. We comply with all applicable laws in every jurisdiction in which we operate.

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