Wells Fargo & Company (NYSE: WFC) is a leading global financial services company headquartered in San Francisco (United States). Wells Fargo has offices in over 30 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
About Enterprise Global Services
Enterprise Global Services (EGS) enables global talent capabilities for Wells Fargo Bank NA., by supporting over half of Wells Fargo's business lines and staff functions across Technology, Operations, Risk Services and Knowledge Services. EGS operates in Hyderabad, Bengaluru and Chennai in India and in Manila, Philippines. Learn more about EGS at our International Careers website.
The Enterprise Costing COE was formed to centralize all the cost allocations centrally, which were previously decentralized in the lines of business and entities. The ECT (Enterprise costing team) is responsible for ensuring that all expenses in the nature of allocations are being allocated out to the respective Lines of business and also to the entities following a fair, transparent and scientific approach. This individual will be responsible for ensuring that financial methodologies and practices are in line with the Cost Allocation COE guidelines and that financial policies and practices are being adhered to.
About the Role
The Enterprise Cost Allocation and Analytics group is looking for a mid level financial consultant to be part of the quality assurance and volume drivers review team. This teams primary focus would be on the volume drivers (used for cost allocations) and be able to perform the end to end of drivers review and validations through the quality assurance process.
Perform quality assurance on the volume drivers used in ECA
To ensure End User Computing Tool ("EUCT") policies and controls consistently cover drivers across the business in order to complete the process of establishing financial controls over driver and volume data
Driver data dictionary development to drive integrity over driver data, as well as accountability and transparency in the cost allocations process.
Testing, mock audits, and required remediation, including control remediation work
Ensure to reduce any previous deficiencies or material weakness identified in prior reports.
Ensuring the accuracy and completeness of all legal entities' financial and regulatory reports is paramount
Building a sustainable control process over a cost allocation driver to ensure control documentation is complete, accurate, and updated on a regular basis by the accountable individuals.
Collecting required information and documents to support the controls
Ensure proper EUCT reviews, documentation and plan B's for the complex worksheets.
Ensure due diligence in reviewing the controls and ensuring that the documentation provided is adequate and good enough.
Performing required analysis and analytics in support of the controls being tested
Document the gaps and provide detailed report to the Sr management.
If required, perform root cause, corrective and preventive actions
Preferred Hands on experience in the cost allocation process including cost recovery.
Good accounting background to understand the flow of GL transactions and advise true up / correction entries.
Good understanding of the CC AU and GL combination and good at hierarchy management.
Independently performs ad hoc financial analysis and is able to turn the analysis into meaningful, actionable information.
Excellent ability to summarize key data for management.
Ensures adherence to compliance and risk management activities within finance related work efforts
Flair for numbers and is good on analytical skills.
Market Skills and Certifications
MBA FINANCE or CA INTER.
Additional qualification in testing, system, essbase, MS office, preferred
Mandatory experience around quality assurance, Internal controls and quality control framework.
Should have a good internal audit experience.
Should have handled end to end of controls testing and must be familiar with the allocation cycles.
Good experience / exposure on testing tools and methodologies
Familiar with different cost allocation concepts and service catalogue.
Previous experience creating and/or monitoring systems or models to predict financial outcomes
Good working knowledge of the Essbase reporting ad-in for Excel
Advance knowledge of PowerPoint and/or the creation of executive financial briefings
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.
Internal Number: 51858BR
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,400 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 260,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
www.wellsfargo.com | Twitter: @WellsFargo