Job Description
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At Wells Fargo, we are looking for talented people who will put our customers at the center of everything we do.
We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired.
Help us build a better Wells Fargo.
It all begins with outstanding talent.
It all begins with you.
Corporate & Investment Banking delivers a comprehensive suite of capital markets, banking, and financial products and services.
A trusted partner to our clients, we provide corporate and transactional banking; commercial real estate lending and servicing; investment banking; equity; and fixed income solutions including sales, trading, and research capabilities to corporate, commercial real estate, government, and institutional clients across the globe.
The Subscription Finance team provides fund-level financing to private equity funds and other asset managers through structured credit facilities.
Subscription Finance is part of the Asset Management vertical within the Financial Institutions Group, which is part of the Corporate and Investment Bank (CIB).
Team members support our focus on building strong customer relationships balanced with a strong risk mitigation and compliance-driven culture that firmly establishes those disciplines as critical to the success of our customers and company.
Each Associate on the Subscription Finance team will cover a portfolio of existing and prospective subscription facility clients (fund sponsors) and will be part of lean deal teams that include senior and junior team members within the assigned portfolio.
The Associate role includes both (i) structuring, credit analysis, and execution of new subscription facilities and (ii) maintenance (including ongoing credit and legal work), collateral analysis, and monitoring of existing subscription facilities.
Day to day job responsibilities for new deals include:
Create pitches/term sheets; Preparing borrowing base calculations in excel; Leading due diligence meetings; Writing detailed credit memos; Working closely with internal and external counsel to negotiate legal documentation; and Working closely with analysts and internal partners to manage internal compliance, booking, and funding processes.
Day to day job responsibilities for existing deals include:
Maintaining client relationships, including researching and reconciling questions/discrepancies and proactively ensuring that all deal requirements are met; Negotiation, structuring, and execution of amendments, joinders, etc.; Supporting team members in collateral analysis and compliance tracking; Monitoring financial performance and internal credit ratings of borrowers and limited partners; Periodic client due diligence; Annual reviews; and Contributing to portfolio analysis across the broader Subscription Finance team portfolio.
Both aspects of the role include meaningful direct client interaction and interaction with Credit.
The Subscription Finance team also works closely with the Syndications team, other product groups (e.g.
FX and treasury management), and relationship coverage platforms across the institution.
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.
Required Qualifications
3+ years of experience in one or a combination of the following: capital markets, investment banking or industry-specific sector; or a PhD in quantitative field such as mathematics, physics, or engineering obtained by date of hire; or MBA; or 6+ years of former military experience
Desired Qualifications
Strong analytical skills with high attention to detail and accuracy Excellent verbal, written, and interpersonal communication skills Ability to work effectively, as well as independently, in a team environment Ability to work in a fast paced deadline driven environment Credit underwriting experience
Other Desired Qualifications Bachelor’s Degree in Business, Finance, Accounting, Math, Economics or Engineering (or MBA) Minimum of 4 years of front office or credit experience at a major firm with a focus in finance.
Experience in structured finance or investment banking is preferred.
Experience in fixed income capital markets, fixed income private placement market, or loan market/corporate finance may also be considered.
Experience reading, negotiating, and/or interpreting legal documents.
Leadership experience and/or experience training others in a relevant professional capacity.
Very comfortable and efficient in Excel.
Experience writing formulas; organizing, analyzing, and formatting data; and recognizing and auditing errors.
Able to review and interpret financial statements.
Experience monitoring covenants and client reporting.
Analytical thinker.
Able to make decisions and recommendations that are well reasoned.
Extremely detail oriented.
High level of personal motivation.
Does more than what is asked for and anticipates questions/issues.
Direct client interaction experience, including some experience interacting with senior decision makers.
Ability to manage a high-volume workload while maintaining excellence and consistency of work.
Ability to quickly change focus and stay organized is a must.
Willingness to work 55-70+ hours per week, depending on workload.
Experience with originating and monitoring subscription facilities, asset backed finance, securitization, or other structured products.
Familiarity with private equity funds.
Formal credit training program.
CFA.
Excel modeling and/or VBA experience.
Job Expectations
Ability to travel up to 15% 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 79 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
Street Address
NY-New York: 30 Hudson Yards
– New York, NY NC-Charlotte: 550 S Tryon St
– Charlotte, NC CA-LA-Century City: 1800 Century Park E
– Los Angeles, CA
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.
Benefits Summary
Benefits
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