Securities Ops Service Spec 2

Securities Ops Service Spec 2

Wells Fargo
Not Specified
Not Specified

Job Description

Job Description :
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading global financial services company headquartered in San Francisco (United States). Wells Fargo has offices in over 20 countries and territories. Our business outside of the U.S. mostly focuses on providing banking services for large corporate, government and financial institution clients. We have worldwide expertise and services to help our customers improve earnings, manage risk, and develop opportunities in the global marketplace. Our global reach offers many opportunities for you to develop a career with Wells Fargo. Join our diverse and inclusive team where you will feel valued and inspired to contribute your unique skills and experience. We are looking for talented people who will put our customers at the center of everything we do. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.
Market Job Description
The IRA Processing - Controls performs oversight of internal controls to ensure that all money movement transactions to and from Retirement accounts are in compliance with the internal policies, federal laws and IRS regulations. Moreover, the team handles all types of distribution, contribution, consolidation and Roth Conversions requests from client associates (CAs) and financial advisors (FAs) submitted in behalf of Wells Fargo clients.
The Securities Operations Service Specialist 2 (SOSS2) position is within the IRA Operations Department of Wells Fargo Advisors. We are looking for dynamic, detail oriented and proactive group of individuals who can perform variety of operational tasks for moderately complex securities or cash related transactions and processes that require general knowledge.
Receive, review, and approve documents, forms and service requests submitted in Smart Station by Financial Advisors, Financial Specialists, Sales Assistants, Client Associates, Branch Managers and representatives for the following Retirement Account transactions
.Distribution- process of taking assets from a Retirement account via check, ACH, Wire or journal transfers into a Non-Retirement account.
.Contribution- process of moving in of assets to a Retirement account. Contributions can be coded as current year, prior year or 60 day rollover.
.Consolidation/Transfers- Transfers are non-reportable and non-taxable transactions done between the same type of IRA typically for the same client.
.Direct Rollovers- movement of assets directly from a qualified retirement plan such as 401(k) or 403(b) to the client's traditional or ROTH IRA.
.Roth Conversion- A Roth conversion is the moving of assets from an IRA (traditional/Sep/Simple) or Qualified Plan to a Roth IRA.
.Federal and State withholding- clients can elect to withhold federal and/or State taxes in Distribution and Roth Conversion requests.
The documents, forms and service requests are subject to good order review to ensure compliance with the existing internal policies, federal laws and regulations. The requests that are in good orders and approved are processed accordingly via automation or manual processing. The items rejected are sent back to the requestor for further clarification or for submission of additional or required document.
Ensure adherence to the Service Level Agreement which means all requests entered should be reviewed and/or processed with 24 hours of its entry.
Market Skills and Certifications
. Excellent problem solving, analytical and technical skills with ability to apply critical judgment and come up with effective decisions.
. Strong verbal and written communication skills and proficiency for detailed documentation with ability to validate work.
. High proficiency with Microsoft Program
. Ability to adapt to a fast paced environment and perform under pressure with a high motivation and able to meet stringent deadlines with strong sense of urgency and results and detail orientation.
. Ability to plan, prioritize and execute a body of work with minimal supervision.
. Exceptional research, data entry and exception handling skills.
. Flexibility to work in night shifts, or weekends/holidays if deemed necessary by the business.
. Possess an impeccable reputation for integrity, accuracy, consistency and business acumen.
. Highly analytical and keen to details
. Familiarity with banking documents
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. 71670

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