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Executive Director - US Financial Institution Coverage

Wells Fargo

Wells Fargo

Accounting & Finance
Charlotte, NC, USA
Posted on Sunday, June 9, 2024

About this role:

Wells Fargo is seeking an Executive Director of US Financial Institution Coverage to join our Global Institutional Rates and FX Sales team in Charlotte to provide daily coverage with a primary focus on US Banks. The ideal candidate must possess working knowledge of a wide variety of interest rate and foreign exchange instruments including Nominal Treasuries, TIPS, Agencies, SSAs, Interest Rate Swaps, cross -currency swaps, Rates and FX Options, Spot FX, FX Forwards and Swaps, and NDFs.

In this role, you will:

  • Work to design and implement client coverage strategies in collaboration with Macro Trading and coverage partners across Markets
  • Develop concrete and client-specific plans to increase market share and flow
  • Disseminate the firm’s intellectual content in an accurate and timely fashion
  • Assist in building connectivity between Macro trading / leadership team and key decision makers at the aforementioned clients
  • Work with internal partners including compliance, legal, and documentation to ensure our approach adapts to the ever-changing market structure and regulatory landscape.
  • Market USD Cash Rates, Interest Rate Derivatives, and Foreign Exchange products
  • Develop new businesses opportunities in US Cash Rates, Derivatives, and FX Markets
  • Provides regular market commentary and color to Sales teams, support partners, and senior management
  • Provide senior mentorship to a team of bank coverage professionals
  • Adhere with compliance and risk mandates.

Required Qualifications:

  • 7+ years of Securities Sales experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Desired Qualifications:

  • Deep knowledge of bank balance sheet management, including derivative hedging strategies, ALCO, Basel endgame, portfolio management, deposit modeling, funds transfer pricing, accounting/auditor frameworks
  • Knowledge of the cash and derivative markets in multiple currencies
  • Ability to help develop strategies tailored to specific banks hedging needs
  • Ability to model and quantify risks of transactions
  • Knowledge of global bond markets, futures markets, foreign exchange markets, and derivative markets
  • Communicate clearly to clients and internal salespeople about market relevant events that will impact their decisions
  • Partner with relationship managers to develop advisory function in the bank space
  • Familiarity with funding needs and balance sheet usage/implications
  • Working knowledge of ISDA / VM CSA / IM CSA / ACA / MRAs

Job Expectations:

  • Ability to travel up to 20% of the time
  • Registration for FINRA Series 63 (or 66) must be completed within 90 days of hire date if it is not available for transfer upon hire. FINRA recognized equivalents will be accepted.
  • Registration for FINRA Series 7 must be completed within 90 days of hire date if it is not available for transfer upon hire. FINRA recognized equivalents will be accepted.
  • Registration for Securities Industry Essentials (SIE) exam must be completed within 90 days of hire date if it is not available for transfer upon hire. FINRA recognized equivalents will be accepted.

Compensation Expectations:

  • Base pay range for this position in New York is 275,000.00 - 275,000.00 USD
  • May be considered for a discretionary bonus, Restricted Share Rights or other long-term incentive awards

This position is subject to FINRA Background Screening Requirements, including successful completion and clearing of a background check. Internal transfers are subject to comply with 17 CFR 240.17f-2 of the Securities Exchange Act of 1934 and FINRA Bylaws, Article III, Section 3, which states that Associated Persons should not be subject to statutory disqualification. Successful candidates must also meet ongoing regulatory requirements including additional screening and are required to report certain incidents.

    Posting End Date:

    12 Jun 2024

    *Job posting may come down early due to volume of applicants.

    We Value Diversity

    At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.

    Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.

    Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.

    Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.

    Applicants with Disabilities

    To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo.

    Drug and Alcohol Policy

    Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.