Investment Portfolio Legal Entity & Tax Consultant
- San Francisco, CA, USA
- Permanent, Full time
- Wells Fargo US
- 26 Sep 17
Investment Portfolio Legal Entity & Tax Consultant
The Wells Fargo Investment Portfolio ("IP") comprises public and private investments for Principal Investments ("PI") and public investments for Treasury Investments ("TI"). With dual reporting to Wholesale (PI) and Treasury (TI), IP manages the portfolio of AFS and HTM investments. Principal Investments, a division of Wholesale Banking, is responsible for the evaluation of credit-driven investment opportunities across a broad spectrum of corporate bonds, notes, loans, Municipal bonds, CLOs and other asset backed securities. With a view towards long term holds, PI focuses on relative risk/reward by purchasing (and selling) at prices that enhance shareholder value and improve Wells Fargo's risk adjusted return on capital. As an extension of Wholesale's lending platform, PI applies the same depth of credit due diligence that other Wholesale lending divisions have historically applied to loan products. Accordingly, each investment is underwritten from the bottom up with thorough credit, structural, and legal analysis then monitored continuously until final repayment of principal.
• Develop and maintain a thorough knowledge and understanding of where the Investment Portfolio owns, manages, operates, sponsors or holds an interest in a legal entity.
• Understand, within the context of Wells Fargo's overall Legal Entity Structure and Resolution and Recovery Plan (RRP), the potential risk and reporting impacts of initiating and acquiring, modifying, dispositioning, dissolving or deactivating legal entities
• Serve as the line of business Legal Entity Contact responsible for governance processes in approving, changing, and dispositioning legal entities. Maintain non-financial Investment Portfolio legal entity information in GEMS and related systems of record.
• Responsible for the Investment Portfolio's compliance with policies and procedures required for Material Entities (e.g. PEONY)
• Complete justification assessments and resolvability assessments in connection with the submission of LEIFs for legal entity events of risk tier 1,2 and 3 legal entities and participate in periodic justification assessments
• Represent and advocate for the Investment Portfolio. Provide program management support for regulatory initiatives and projects to include participation in Resolution and Recovery Planning (RRP).
• Implement processes, controls and line of business procedures to ensure compliance with the requirements of the Legal Entity Policy an any related applicable policy requirements
• Ensure the accuracy, integrity, completeness, and reliability of data and information reported to the Legal Entity governance committees and officers
• Develop, update and maintain required Service Level Agreements (SLAs) and Asset Management Agreements (AMAs) in partnership with Risk, Legal, LEO and Finance.
• Provide timely training to team members with direct involvement in legal entity governance processes
• Provide legal entity guidance to business partners for asset allocation based upon capital, liquidity, operational, compliance, regulatory, and market impacts
• Review tax classifications assigned to legal entities, in accordance with LEO operating procedures and in partnership with Corporate Tax and the Wholesale Tax Center of Excellence.
• Responsible for understanding shared services and support between legal entities, as well as for creating and updating on an ongoing basis the appropriate and accurate cost allocations in partnership with Finance and in compliance with Regulation W.
• Participate in the Wholesale Tax forums. Ensure efficient an effective customer information tax reporting to keep pace with regulatory changes and to minimize U.S. and Global tax compliance risk related to our customer information tax reporting obligations.
Team members 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.
- 8+ years of experience in one or a combination of the following: project management, implementation, or strategic planning
- 5+ years of leadership experience
Other Desired Qualifications
- 4+ years of experience in the capital markets and investment banking industry with a focus on Risk Management
- Familiarity with asset classes: Corporate Bonds, Loans, Syndicated Loans, Notes, Municipal Bonds, Reinsurance and Tax Equity Investing
- Knowledge and understanding of banking regulations and Tax Codes
- Demonstrated ability to build collaborative partnerships across functions and business units, creating strategic alliances among diverse stakeholders.
- Strong interpersonal and communication skills
- Advanced proficiency in MS Excel and other office suite applications including Word and PowerPoint
- 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.