Wells Fargo & Company (WFC) summer internship experience is now open for applications. There is NO definite application deadline as the company is operating on a 1st come 1st served basis. When WF has received enough applications for any particular role, the company will close the application. As agreed, WF is giving partner organisations like ACD a head start (until Wednesday) before promoting the opportunities more widely.
Looking for a PAID summer internship? Know someone who is? There are opportunities in Wells Fargo in 13 different departments. ACDiversity applicants have priority. If interested, send your CV to info@acdiversity.org.
- The pay is circa £500 per week for the full 10 weeks attendance of the experience (£25,000 per annum pro rata for 10 weeks)
- There is a question on the application form asking ACD students to state they are a member of ACD. This is to help us identify which applicant we need to provide additional application support to throughout their application process.
BACKGROUND
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. Its business outside of the U.S. mostly focuses on providing banking services for large corporate, government and financial institution clients. WFC has worldwide expertise and services to help its customers improve earnings, manage risk, and develop opportunities in the global marketplace. Its global reach offers many opportunities for you to develop a career with Wells Fargo. Join its diverse and inclusive team where you will feel valued and inspired to contribute your unique skills and experience. WFC is looking for talented people who will put its customers at the centre of everything they do. Help build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.
Wells Fargo Values Diversity
Wells Fargo believes in diversity and inclusion in the workplace; accordingly, WFC welcomes applications for employment from all qualified candidates, regardless of race, colour, gender, national or ethnic origin, age, disability, religion, sexual orientation, gender identity or any other status protected by applicable law. WFC complies with all applicable laws in every jurisdiction in which it operates.
Team members support WFC’s 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 its 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.
Market Job Description
Wells Fargo’s Summer Internship Experience is designed to help you learn more about the company and the banking sector, by getting involved in real life value adding projects. This is a 10 week virtual experience, and you will be paid for your participation. (During Covid-19 office visits can be arranged providing it is permitted by government lockdown guidelines and Wells Fargo health & safety procedures.)
WFC will provide you with various learning opportunities and support throughout your time with them. On joining, a buddy – previous intern or a current graduate – will help guide you through the transition from classroom to a professional workplace. Learning is on the job from experts in your team, as well as specifically designed courses providing the technical and general business skills needed to be successful. And you have the opportunity to meet senior leaders and other experts across the company to start building your professional network.
Market Skills and Certifications
Candidates must:
– Have the relevant rights to work in the country (i.e. UK) where the internship experience is based
– Internship is from Monday 21st June 2021 to Friday 27th August 2021. Full time attendance is mandatory.
The ideal candidate would be (but not essential):
– In full time education at school, college or university in the country where the internship experience is based
– A good listener and feel comfortable to speak to individuals or groups from a wide variety of backgrounds
– Want to achieve high quality results consistently
– Able to work productively and with good judgement especially when without direct supervision
The internships will be located in one of the following teams:-
Summer Internship Experience 2021 – Finance Controllers Group Team
This team is part of the wider Finance organisation within Wells Fargo, and is responsible for regulatory, financial, and management reporting requirements in the region. As well as forming a key part of the International Controllers organisation, the team provides local support for various financial services business lines as well as the EMEA Chief Financial Officer and management team.
During your 10 weeks, you will gain exposure to one the function’s core activities, specifically the preparation and submission of financial reports to the regulatory authorities. As part of this experience, you will be learn about regulatory rules, obtaining and preparing financial information through defined processes, as well as participating in review, sign off, and governance processes supporting accurate reporting. You will also spend time with the regulatory change function, gaining insight into and supporting the function’s effort to use digital tools to automate and streamline reporting processes.
Summer Internship Experience 2021 – Compliance Team
This team provides independent compliance risk oversight for the lines of business and legal entities operating in the region. We work proactively with the lines of business and other Independent Risk Management and support functions to design and deliver effective compliance risk management strategies. Our objective is to ensure that all business groups and regulated legal entities in region comply with enterprise-wide compliance standards and the regulatory requirements of the countries in which we operate.
During the 10 weeks, you will have the opportunity to contribute to the compliance advisory and oversight activities and gain practical experience such as contributing to the range of Compliance projects and programmes underway in the region, reviewing regulatory guidance for applicability to our business, shadowing compliance officers across the various specialist teams, and sitting in on meetings. You will be directly supervised and mentored by experienced.
Additional Market Skills and Certifications
Candidates must:-
- Have a strong interest in financial services regulation and ethics, conduct and culture
- Have analytical and research skills
- Be able to work well as part of a team
- Be able to speak and write to individuals or groups from a wide variety of backgrounds
- Be well organised
Summer Internship Experience 2021 – Business Control Team
This team is a front-line team that supports Corporate and Investment Banking, Banking and Capital Markets, Commercial Banking and Wealth Investment Management in delivering risk strategy and a robust Risk & Control Framework. The team assesses and effectively manages risk delivering an integrated view, a sustainable control environment and a strong risk management culture.
During your 10 weeks, you will learn about front line risk and controls across multiple different product lines. This will include working with the business to identify risk, assess and implement the controls that mitigate that risk. For example, anti-financial crime, cybersecurity and conduct risk. In addition, you will have the opportunity to assist the group in delivering essential international change programmes as part of the global risk target operating model.
Summer Internship Experience 2021 – Product Control Team
This team work closely with various departments to produce an independent income statement, position analysis and foreign exchange exposure summary for each of the businesses we work with, every day. These reports are used to analyse and report the performance of the underlying businesses to various stakeholders, and to help control the risks the bank faces. The daily reporting process feeds into the monthly general ledger reconciliation process, whereby we ensure that the general ledger correctly reflects the income, expense and balance sheet for each of those businesses, as an independent check on the general ledger. The bank’s externally-reported financial statements are effectively the combined total of each individual business’ part of the general ledger. The team also perform an independent analysis of how the businesses value their positions, known as independent price verification, and we also analyse the ageing of portfolios.
During your 10 weeks, you will be helping to produce the daily reports of income and exposure which are distributed to various teams including management around the region. You will also be supporting, and ultimately owning your own small-scale projects to resolve real issues or enhance current production.
Additional Market Skills and Certifications
Candidates must:
– Have a strong interest and comfortable working with numbers
The ideal candidate would be (but not essential):
– Able to use Microsoft Excel and Microsoft Access
Summer Internship Experience 2021 – Capital Markets Middle office Team
This team is within Corporate Investment Banking Operations. The transaction reporting team is responsible for the accurate and timely submissions of our regional transaction reporting obligations to the respective regulators. The team report transactions across multiple Asset Classes which include FX, Fixed Income, Equities and OTC Derivatives.
During your 10 weeks, you will get exposure and insight into the various Asset Classes. You will learn which Asset Classes are being reported to which regulators by helping with the production of reports in a timely manner. You will also learn what actions the bank takes to minimise risks for us and our clients.
Summer Internship Experience 2021 – Human Resources Team
The team provides proactive and strategic partnership to all lines of business and staff functions, on a wide range of human capital initiatives. Our HR Consulting professionals and Centres of Excellence (COEs) align enterprise HR strategies with regulatory, regional and country requirements to mitigate human capital risks.
During the 10 weeks, you will have an opportunity to gain practical experience with the employee lifecycle by engaging with talent acquisition, shared services, compensation, talent mobility, consulting and other HR functions.
Additional Market Skills and Certifications
Candidates must:
– Have a strong interest in culture, business transformation, strategic leadership and risk management.
The ideal candidate would be (but not essential):
– Able to speak and write to individuals or groups from a wide variety of backgrounds
Summer Internship Experience 2021 – Global Trade & Receivable Finance Team
This team provides a broad range of liquidity products and solutions for clients’ account receivable and trade needs. The primary function of team is to deliver Supply Chain Finance, documentary trade and products to Wells Fargo’s clients in the region. The team’s product offering is a complete set of commercial risk mitigation and working capital tools geared towards domestic and cross border trade flows.
During your 10 weeks, you can expect to be involved in a number of different projects. With the help and support from experienced team members, you will quickly interact with clients.. You will also assist on marketing activities such as producing presentations for approval. You will also be involved in other projects which you may be accountable for. This is a great opportunity for you to practice your stakeholder management skills learnt throughout your experience.
Summer Internship Experience 2021 – Commercial Real Estate Team
The team is responsible for lending to real estate investors across a wide spectrum of real estate assets located within the UK and Ireland. These assets range from offices, retail and industrial space, as well as the emerging residential Build to Rent and student accommodation. Our clients are both UK and internationally based with a particular focus on the US, and include some of the sectors best known UK Real Estate Investment Trusts (REITs), fund managers and large private property companies. A typical deal the team manages average £50 – £75 million.
During the 10 weeks, you will learn the basics of financial and cash flow analysis and how this can be used to assist the team with new lending opportunities. You will also learn how we analyse the financial creditworthiness of companies, often these will be tenants and borrowers. You will assist with internal projects/ undertake external market research to support new/ existing lending opportunities. You will provide support in preparation of deal summary memorandums for new opportunities. You will also attend internal meetings and possible site visits of existing properties (dependent on Covid-19 national government guidelines and Wells Fargo Health & Safety procedures).
Additional Market Skills and Certifications
The ideal candidate would be (but not essential):
– Have an interest in real estate
Summer Internship Experience 2021 – Capital Markets Middle office Team
This team is within Corporate Investment Banking (CIB) Operations. The team proactively and objectively identify risks and control gaps via process based control assessments (Self Inspection Program -SIP) to measure and mitigate risks within line functions. The PRE team also engages CIB Securities Operations to capture all Key Risk, Performance and Control metrics providing reports to leadership team and internal business partners.
During your 10 weeks, you will have the opportunity to contribute to the SIP, namely pre audit mini assessment services offered by the EMEA PRE team and gain practical experience such as collaboration across CIB Securities Operations, drafting updates to stakeholders and presenting their findings to EMEA management. Interns will be directly supervised and mentored by senior Operations team members and peers across EMEA, US and India.
Additional Market Skills and Certifications
Candidates must:
– Have a strong interest in understanding how a bank operates
– A good listener and feel comfortable to speak to individuals or groups from a wide variety of backgrounds
– Be able to work well as part of a team
– Be comfortable with analysing data and conducting research
Summer Internship Experience 2021 – Asset Based Lending Team
This team delivers bespoke funding structures to a wide spectrum of mid- to large corporates, providing comprehensive asset-based lending in form of both revolving facilities and term loans. The team work with public and private UK-based companies and multinational businesses with operations in the UK, Western Europe, the US, Canada, and beyond. Through specialised monitoring of credit, the team can underwrite loans to asset-rich companies that are outside the typical lending criteria of traditional financing products.
During your 10 weeks, you will learn to take ownership of the analytical aspects of a client. Depending on your progress, you could experience being in charge of a client within your 10 weeks with the team. This will involve updating the clients trading trends for the monthly portfolio meetings, preparing analysis for monthly internal review, updating the Borrowing Base in the system, and when applicable action settlement requests.
Summer Internship Experience 2021 – Commercial Distribution Finance Team
This team provides inventory financing to Dealers, Original Equipment Manufacturers (OEM) and Distributors in order to drive long term success through customers. Inventory financing enables efficient, uninterrupted flow of inventory through the distribution channel, allowing customers to focus on what matters most to them – managing and growing their business. Dealers benefit through reduced working capital requirements which allows for optimised allocation of capital. OEMs and Distributors benefit from improved liquidity and reduced credit risk.
During your 10 weeks, you can expect to assist on updating marketing flyers. You will learn how the team generate revenue, and explore the various financial products the team offers to our clients. Furthermore, you will also assist account managers on their daily responsibilities. Depending on your progress, you may be given a small portfolio of clients on the account manager’s team to manage. You will also be supporting the tech team on credit papers and assist the underwriters where needed.
Summer Internship Experience 2021 – Legal Team
This team provides advice to Wells Fargo’s senior management, business units and support functions on a wide range of issues including regulatory matters, transactions and corporate law issues with lawyers located in the U.K, Ireland, France and Germany.
During your 10 weeks, you will have the opportunity to contribute to the legal services offered by the department and gain practical experience such as reviewing legal documents, drafting basic agreements, undertaking legal research and sitting in on meetings. You will be directly supervised and mentored by senior solicitors within the team.
Additional Market Skills and Certifications
Candidates must:
– Have a strong interest in law
– Have analytical and research skills
– Able to work well as part of a team
– Able to speak and write to individuals or groups from a wide variety of backgrounds
Summer Internship Experience 2021 – Corporate Banking Team
This team provides a range of banking products and solutions to the largest companies across the UK and Europe. Clients cover a broad range of sectors, from retailers to industrial companies, and from tech firms to recruitment companies. The team are a diverse team of circa 60 people across 3 offices in London, Dublin and Frankfurt, caring for the client-facing part of the bank, bringing on new opportunities and managing relationships with existing clients.
During the 10 weeks experience, you will be supporting bankers in their daily customer communication, reviewing and understanding business models across different industries, conducting research and presenting your results on a variety of different topics. You will be helping the team to stay on top of the latest news and developments. You will assist portfolio managers and relationship managers with analysing loan requests, borrower information and financial statements, industry and business analysis. You will also help monitor customer financial performance, credit quality rating, and compliance with financial covenants. You will also gain hands on experience in preparing financial updates, report on key trends and identify key risks.