Vice President, Portfolio Management - Insurance

Wells Fargo Corporate & Investment Banking (CIB) delivers a comprehensive suite of capital markets, banking, and financial products and services. A trusted partner to clients, CIB provides corporate and transactional banking; commercial real estate lending and servicing; investment banking; equity; and fixed income solutions—including sales, trading, and research—to corporate, commercial real estate, government, and institutional clients globally.

About the role

Wells Fargo is seeking a Lead CIB Portfolio Manager to join the Portfolio Management team and support the growing Financial Institutions business. The Portfolio Manager will partner with Relationship Managers, Industry Coverage Bankers, and Risk Management to oversee credit-related functions and portfolio support for insurance and insurance services clients.

Responsibilities

• Manage and oversee credit assessments, credit quality monitoring, and underwriting risk exposures for a diverse portfolio of insurance companies.
• Independently manage and oversee credit actions for an assigned portfolio of clients, supporting Managing Director and Executive Director Portfolio Managers on lead credit roles and complex relationships, including new credit transactions, refinancings, and amendments.
• Conduct underwriting and risk assessments for counterparties with risk exposures connected to treasury management services and market products.
• Perform detailed credit reviews, financial statement analysis, industry analysis, and projection modeling to ensure accurate risk assessments, timely monitoring of performance trends, validation of risk ratings, monitoring of covenant compliance, and adherence to policy and regulatory requirements, including those related to leveraged credit extensions.
• Lead the review and negotiation of legal documentation in partnership with internal and external counsel.
• Direct, coordinate, and collaborate with colleagues in the execution of loan closings and bookings, ensuring adherence to documentation terms, post-closing credit monitoring, and active assessments of compliance requirements.
• Contribute to and lead credit-focused projects, partnering with Portfolio Managers, Corporate Banker Relationship Management, Analysts, and Associates.
• Engage with internal and external auditors and examiners and assist with internal and external exam processes.
• Prepare and present updates on loan portfolio and insurance subsector trends to senior leadership, Risk Management, and client coverage partners.
• Partner with Corporate Banking Relationship Management, Investment Banking Insurance Coverage, Debt Capital Markets colleagues, Independent Risk Management, and other product partners to support the full spectrum of client coverage needs related to credit risk products.
• Lead and contribute to due diligence meetings with client contacts to support the delivery of new products or services or expanding existing business with clients.
• Train and mentor Financial Institutions Associates and Analysts.
• Ensure adherence to Wells Fargo credit policies and procedures; review and interpret credit policies and incorporate requirements into credit analysis, risk assessments, and risk rating recommendations.

Requirements

• 5+ years of experience in CIB Portfolio Management or equivalent, demonstrated through work experience, training, military experience, or education.

Qualifications

• Portfolio Management experience with large corporate clientele.
• Experience in corporate banking portfolio management and underwriting.
• Experience with credit managing Insurance, Insurance Services, Depository Institutions, and/or Financial Institution sectors/subsectors.
• Experience supporting lead credit role relationships, acquisition financing, and/or leveraged lending financings.
• Experience negotiating credit agreements and legal documentation for market products.
• Experience serving as a peer mentor while training and developing less tenured colleagues.
• History of exercising sound judgment and making timely decisions in a fast-paced, results-driven environment.
• Effective communication and presentation skills.
• Strong credit and technical skills, as well as accounting knowledge.
• Experience building partnerships, collaborating across lines of business, and effectively communicating at all levels of an organization.

Job Expectations

• Obtaining and/or maintaining appropriate Financial Industry Regulatory Authority (FINRA) license(s) is required for ongoing employment. FINRA Series 63 and 79 examinations, or equivalent, must be completed within either a 90- or 180-day time period following commencement of employment, depending on the number of licenses needed if not immediately available to transfer upon hire. FINRA-recognized equivalents will be accepted.
• Compliance with state law registration and licensing requirements is mandatory. Specific product licenses or SAFE licensing may also apply.
• Additional requirements include meeting enhanced financial fitness and criminal background standards. Wells Fargo will initiate the FINRA licensing review process at the time of offer acceptance.
• For specific FINRA qualification exams obtained after 9/30/2018, the Securities Industry Essentials (SIE) exam co-requisite is required.
• This position is subject to FINRA background screening requirements. Candidates must successfully complete and pass a background check prior to hire. Individuals subject to statutory disqualification are not eligible to be associated with a FINRA-registered broker-dealer.
• Specific compliance policies may apply regarding outside activities or personal investing; affected employees will be expected to provide information to the Wells Fargo Personal Account Dealing Team and abide by applicable policy requirements.
• Ability to travel up to 10% of the time.

Posting locations: New York, NY; Charlotte, NC; Minneapolis, MN.

Pay

$225,000 base pay range. Pay may vary depending on factors including but not limited to demonstrated examples of prior performance, skills, experience, or work location. Employees may also be eligible for incentive opportunities. Additional pay range: $119,000.00 - $206,000.00.

Benefits

• Health benefits
• 401(k) Plan
• Paid time off
• Disability benefits
• Life insurance, critical illness insurance, and accident insurance
• Parental leave
• Critical caregiving leave
• Discounts and savings
• Commuter benefits
• Tuition reimbursement
• Scholarships for dependent children
• Adoption reimbursement