WFA Operations Manager 3, Annuity Operations

  • Competitive
  • Charlotte, NC, USA
  • Permanent, Full time
  • Wells Fargo US
  • 20 Sep 17

WFA Operations Manager 3, Annuity Operations

Job Description
Y ou have a proven track record of success but you're looking for more? More responsibility? More challenges? At Wells Fargo you'll find that opportunity. You'll join a team of people who are smart and share your values. You can enjoy a diverse career as you learn and grow your capabilities across our multiple lines of business. Our supportive environment can help you make a difference within the company and the communities we serve.

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified financial services company with $1.7 trillion in assets. Founded in 1852, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 locations, more than 12,500 ATMs, online (, and mobile devices. Wells Fargo has more than 265,000 team members in 36 countries across our approximately 90 businesses. Wells Fargo & Company was ranked No. 30 on Fortune's 2015 rankings of America's largest corporations. Wells Fargo's vision is to satisfy our customers' financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories .

Wealth and Investment Management (WIM) is one of the company's four main divisions. WIM businesses build enduring client relationships through sound, thoughtful and objective advice. We help our clients by developing individualized plans for everything from retirement goals to business succession planning, to family legacy intentions. Services include comprehensive planning and advice, investment management, brokerage, private banking, estate planning strategies, trust, insurance and both individual and institutional retirement.

Wells Fargo Advisors (WFA): Wells Fargo Advisors operates the nation's third-largest Brokerage business with over 15,000 Financial Advisors and 3,800 licensed bankers in retail stores across the U.S. Wells Fargo Advisors administer $1.4 trillion in client assets. Unprecedented choice and flexibility for Financial Advisors and their clients is provided through distinct business channels supported by established products, services and technology.

Job Purpose: This position supervises and develops a team of 8 to 10 Annuity Securities Operations Service Specialists. The team is responsible for processing and quality control review of a portion of approximately 7,000 to 10,000 monthly annuity new business and post issue transactions, resolving escalated annuity challenges as identified by Internal Partners and Financial Advisors, and negotiating resolution of an average of 1,000 cases annually, which results in significant cost savings to the Firm. In addition to the Annuity Operations transactions, this position is responsible for managing the Annuity Cash Management functions as they pertain to annuities. This position is also responsible for fostering and developing an environment committed to quality and exceptional customer service.

Other duties include:

  • Lead, coach, and develop team members to maintain high employee engagement levels
  • Communicate with direct reports who provide Annuity operational resolution support and service to meet and surpass metric goals and industry standards
  • Manage the hiring, training, scheduling and monitoring of staff
  • Interact with all levels of management to facilitate strategic initiatives and provide representation of the Operations group.
  • Negotiate high-risk decisions and changes in existing operational/administrative rules, and review operations procedures
  • Act as point of escalation for complex annuity errors, and primary contact for carrier partners on escalated trade related errors resolution
  • Develop and implement process improvements
  • Build and maintain effective partnerships with insurance carrier Relationship Managers and coordinate carrier site visits, and build and maintain strong relationships with peers, Financial Advisors, internal and external wholesalers, and other internal bank departments
  • Responsible for weekly metric reporting on Dashboard and quarterly analysis of Annuity Operations, new business and post issue transitions, and solutions cases, and Excellence First submissions
  • Supervise the money movement process as it pertains to annuities
  • Ensure Operational Procedures and Supervisory Procedures are up to date, and perform sign-off
Required Qualifications
  • 6+ years of operations experience
  • 2+ years of leadership experience in operations

Desired Qualifications
  • Excellent verbal, written, and interpersonal communication skills
  • Ability to interact with all levels of an organization

Other Desired Qualifications
  • Excellent relationship management skills
  • Ability to assess complex situations and act quickly to resolve, and ability to make sound decisions based on strategic direction of the department
  • Ability to develop and implement process improvements
  • Experience working with Annuities, and demonstrated knowledge of Wells Fargo annuity processes and systems, which includes experience working with operational systems such as Annuity Order Entry Platform, BETA, Annuity Services, Annuity Linking Tool, and Annuity Solutions Database
  • Proven ability to develop innovative approaches to complex business issues with the ability to clearly express ideas and concepts to team members, and internal and external customers
  • Ability to coordinate and develop measurements, and enforce standards and procedures
  • Strong PC Skills; Including Microsoft Office Suite
Job Expectations
  • Registration for FINRA Series 99 must be completed within 120 days of hire date if it is not available for transfer upon hire. FINRA recognized equivalents will be accepted.
  • Obtaining and/or maintaining appropriate Financial Industry Regulatory Authority (FINRA) license(s) is required for ongoing employment in this position. In addition state registration, specific product licenses or SAFE licensing may apply. Additional requirements include meeting enhanced financial fitness and criminal background standards. Wells Fargo will initiate the FINRA review process at the time of offer acceptance.

    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.