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.
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.
Corporate Risk helps all Wells Fargo businesses identify and manage risk. The team focuses on several key risk types, including conduct, credit, financial crimes, information security, interest rate, liquidity, market, model, operational, regulatory compliance, reputation, strategic, and technology risk. The group provides leadership, enhances communications, assists with problem identification and solutions, and shares best practices. In addition, the group provides an enterprise-wide view of risk, assists management and our Board of Directors in identifying and monitoring risks that may affect multiple lines of business, and takes appropriate action when business activities exceed the risk tolerance of the company.
The Market & Counterparty Risk Management (MCRM) organization is responsible for independently overseeing the management of market and counterparty risk exposures. The group is responsible for the identification, measurement, approval, pricing, and aggregation and reporting of market and counterparty credit risk. Within MCRM, the Corporate Market Risk Group (CMRG) is responsible for market risk management. The Corporate Functional Model Oversight for Market and Counterparty Risk models ('Market and Counterparty Risk CFMO') is part of the Corporate Market Risk Group (CMRG). The Market and Counterparty Risk CFMO is a subject matter expert for models used to measure market and counterparty risk. These models are used to price and hedge trading transactions, as well as measure the risk of possible economic loss from adverse changes in market risk factors such as interest rates, credit spreads, foreign exchange rates, equity and commodity prices, mortgage rates, market liquidity dynamics, or counterparty defaults. He or she is expected to provide a sound business perspective and practical understanding of how Market and Counterparty Risk models are used, and their anticipated performance given certain market conditions.
Market and Counterparty Risk CFMO responsibilities may be categorized in the following areas:
Model oversight and credible challenge. The Market and Counterparty Risk CFMO provides model oversight – that models are appropriate for their specific intended use, and perform as expected under business as usual and stress testing conditions
Compliance with policies and regulatory expectations. The Market and Counterparty Risk CFMO promotes compliance with regulatory expectations and other standards specific to the function
Responsibilities for this role will include, but not be limited to, the following:
Operates in a fast-paced environment, and interacts on a daily basis with a broad range of business partners ranging from traders, market and counterparty risk officers, quants and risk staff
Reviews and approves the use of models for pricing, hedging and risk measurement of trading transactions and counterparty risk
Is expected to provide credible challenge to models, especially as it pertains to their performance or their use given prevailing or stressed market conditions, in an environment of heightened regulatory expectations
Provides analysis and communicates with multiple committees, including the Market Risk Committee and Model Risk Committee
Has a deep knowledge of regulatory guidance and firm policies. Must be able to interpret them and provide guidance to business partners
This specific role will focus primarily on models used by Wells Fargo Home Lending to measure and manage market risk inherent in the Mortgage Servicing Portfolio, Mortgage Pipeline and Warehouse, balance sheet mortgages held for sale and Mortgage Asset Sales.
5+ years of experience in one or a combination of the following: market risk, capital markets, trading, or interest rate risk
2+ years of model governance experience
Ability to develop partnerships and collaborate with other business and functional areas
Excellent verbal, written, and interpersonal communication skills
Intermediate Microsoft Office skills
Strong analytical skills with high attention to detail and accuracy
Other Desired Qualifications
A Master's degree or higher in a quantitative discipline
Knowledge and understanding of risk model assessment and outputs
Knowledge and understanding of technical documents and procedures development
CFA or FRM certification preferred but not required
2+ years of experience with fixed-income, interest rate, derivatives or VaR modeling in a capacity of model developer, validator or governance role
Highly prefer 2+ years of modeling experience.
2+ years of experience in model risk management including model performance analysis and writing related policy and translating policy/regulatory requirements into applicable business requirements.
Demonstrated experience in derivatives, modeling or governance
Reliable team player with strong personal integrity, work ethic and positive attitude
Strong interpersonal skills to work effectively with a wide range of business partners including:
Model risk governance, quantitative analysts, traders and trading management, risk analytics, operations, technology, and other groups.
Able to communicate with model developers, model governance team members, and market and counterparty risk oversight team to identify key risks to be capture by a market or counterparty risk model for use and performance to be adequate
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.
Internal Number: 5553751-3
About Wells Fargo
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