WFAML Frankfurt Branch Manager

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

This role will be responsible for the day-to-day management, supervision and control of the branch’s activities in Germany

Responsibilities:

• Day-to-day management, supervision and control of the branch’s activities in Germany.
• Perform governance, managerial and administrative functions for the branch, including supervision of support activities, office management, business continuity plan, invoicing, review and signature of contracts, onboarding of service providers, minutes taking and others as relevant.
• Identify, evaluate and manage strategic risks and opportunities.
• Ensure compliance with regulations and company policies and procedures.
• Identify the existing rules and the upcoming regulations in Germany which may impact the WFAM(L) business.
• Keep updated on directives, laws, regulations and circulars governing the conduct of business activities of the management company and investment funds;
• Act as primary point of contact with the German regulator, attend meetings with regulator and address queries where relevant;
• Act as chair of the quarterly Branch Management Committee, and provide quarterly reports to the Board in the headquarters and ad-hoc as required.
• Prepare Senior Management and Board Reporting;
• Works closely with the local & regional compliance and financial crimes heads to perform the role of local MLRO (or deputy MLRO) as required by the German regulator;
• Work with the other local team members in ensuring that the branch fulfils the regulatory and corporate requirements (compliance, financial crime, operational risk, sales practices, etc.);
• Oversee the activities performed by the local staff members and act as local escalation point;
• Ensure adequate and timely reporting to the regulator and tax authority;
• Coordinate audits on the branch and other testing as required;
• Represent the branch in front of the relevant committees where required;
• Liaise with and provide regular updates to WFAML’s Head Office and Conducting Officers in Luxembourg including reporting to the WFAML Board where appropriate.
• Bring a level of subject matter expertise to the broader Asset Management stakeholders to maximize the branch performance.
• Assist WFAML’s Head Office in any other strategic, tactical or operational initiatives.
• Effectively manage WF brand and reputation.
• Other Duties as Requested.

Market Skills and Certifications

Skills/Experience Required:

• Experienced in Asset Servicing (including UCITS, AIMFD).
• Prior management experience.
• Ability to cover and oversee different responsibilities and missions.
• Demonstrated ability to effectively communicate through oral and written communication skills.
• Independent, entrepreneurial spirit and ability to prioritize in a fast paced environment.
• Demonstrated experience of the Governance, Risk & Compliance (including local AML/KYC) requirements for Asset Management.
• Interest, understanding and experience in Marketing and Asset Management strategies/products.
• Ability to build strong working relationships with teams, management and peers.
• Ability to work on multiple projects in a time pressured environment.
• Legal and/or management degree.
• Proven team player who works hard and is also a team and individual contributor.
• Fluent in English and German.
• Strong organizational skills.
• Good knowledge of Microsoft office tools (or equivalent).

Wells Fargo recently announced the sale of Wells Fargo Asset Management to GTCR LLC and Reverence Capital Partners, L.P. The sale is expected to close in the second half of 2021. We are continuing to recruit for open positions supporting Asset Management but want to ensure you are aware that when the sale closes this position will be part of the transferred business and not with the remaining Wells Fargo business. If you begin working at Wells Fargo, you should expect to transfer with the sale of Wells Fargo Asset Management, with similar employment terms and conditions as your Wells Fargo employment

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.
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.