Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message. In order to receive text message invitations, your profile must include a mobile phone number designated as 'Personal Cell' or 'Cellular' in the contact information of your application.
**Due to a high volume of inquiries and multiple hiring managers for these roles, please do not contact the hiring manager listed. Any inquiries sent to the hiring manager listed will not receive a response **
At Wells Fargo, we want to satisfy our customers' financial needs and help them succeed financially. We're looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you'll feel valued and inspired to contribute your unique skills and experience.
Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you
Wholesale Banking provides financial solutions to businesses across the United States and globally. Our four major business lines include Corporate & Investment Banking, Commercial Banking, Commercial Real Estate, and Wells Fargo Commercial Capital. We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses.
Corporate and Investment Bank (CIB) delivers a comprehensive suite of banking, capital markets and advisory solutions, including a full complement of sales, trading and research capabilities, to corporate, government and institutional clients. We focus on our clients' overall financial needs, with consideration and respect for their total relationship with Wells Fargo.
The Subscription Finance team provides fund-level financing to private equity funds and other asset managers through structured credit facilities. Subscription Finance is one of the product groups within the Asset Backed Finance team, which is part of Wells Fargo Securities. 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 for each facility 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:
Working with senior originators to create pitches/term sheets;
Preparing borrowing base calculations in excel;
Leading due diligence meetings;
Writing detailed credit memos;
Working closely with the senior banker 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 ABF Credit. The Subscription Finance team also works closely with the ABF 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.
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
Credit underwriting experience
Ability to work effectively, as well as independently, in a team environment
Ability to work in a fast paced deadline driven environment
Excellent verbal, written, and interpersonal communication skills
Strong analytical skills with high attention to detail and accuracy
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 asset backed/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.
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.
Excel modeling and/or VBA experience.
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.
Ability to travel up to 15% of the time
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
NC-Charlotte: 550 S Tryon St - Charlotte, NC NY-New York: 30 Hudson Yards - New York, NY
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.
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