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Corporate Risk helps all Wells Fargo businesses identify and manage risk. We focus on three key risk areas: credit risk, operational risk and market risk. We help our management and Board of Directors identify and monitor risks that may affect multiple lines of business, and take appropriate action when business activities exceed the risk tolerance of the company.
The Corporate Credit & Market Risk group is responsible for independently overseeing the management of credit risk exposures (including monitoring and reporting on aggregate credit exposures across groups, legal entities, geographies, and jurisdictions) and the quality of credit risk management practices across the company. This oversight extends to all phases of a loan’s life cycle, including origination, underwriting, risk analysis, approval, documentation, boarding, monitoring, loss recognition, modification, and collection activities. Corporate Credit & Market Risk is responsible for delegating and/or removing credit and investment approval authorities to the lines of business.
More specifically, Corporate Credit & Market Risk develops, maintains and ensures adherence to enterprise-wide credit risk frameworks, policies, and procedures that are aligned with the Board-approved risk appetite.
Credit Capital, Allowance and Stress Testing (CCAST) is a component of Corporate Credit & Market Risk. CCAST engages with senior leaders in Credit Risk, Finance, Controllers and Treasury to support the $960B+ loan portfolio. The team is also responsible for maintaining strong relationships with regulators, external auditors, internal auditors and other examiners. CCAST has teams that are responsible for:
- Consolidation, coordination, documentation and oversight of the allowance for credit losses (ACL) and related external disclosures in compliance with US GAAP and the COSO Internal Control Framework
- Oversight, modeling and estimation of risk weighted assets (RWA) in compliance with Basel regulations and Basel Risk Reporting requirements (BCBS 239)
- Coordination, oversight, documentation, and submission of the credit-related risks in the company-wide stress testing exercises in compliance with Dodd-Frank/Comprehensive Capital Analysis and Review (CCAR) requirements.
The Allowance team is responsible for the consolidation and reporting of the Company’s quarterly allowance for credit losses and semi-annual stress tests for the enterprise. The team is seeking an experienced auditor, accountant and/or credit risk consultant to assist with the qualitative models and documentation for the quarterly allowance.
The position requires an individual who possesses the following:
- An understanding of commercial and/or consumer lending transactions and credit risk attributes
- Business acumen, enabling positive interactions with various business, risk and finance groups across the Company
- Data query and analytical skills
- Ability to develop and maintain project planning materials including executive summaries, key roles and responsibilities of project team members, timelines and key milestones
- Problem solving skills in order to respond to and overcome challenges presented within the context of a complex credit risk data environment
- Ability to partner closely with other team members across the organization, maintaining a commitment to excellence in a fast paced environment
- Ability to develop effective solutions with the best information available within a rapidly evolving program
- Strong documentation and understanding of systems, data, process and controls
This is a highly visible position that will partner closely with senior business and corporate function managers to achieve the following:
- Develop a strong working knowledge of the qualitative models used in the allowance for credit loss process, the various regulatory standards and audit guidelines with respect to end-to-end documentation processes
- Engage with Risk and Finance partners within the Governance & Oversight (G&O) program to understand and communicate key deliverables, expectations, milestones and due dates
- Analyze information systems and reporting processes that support Risk and Regulatory Reporting where CCAST has a role as a data owner, provider or report owner
- Support the implementation of new accounting standards for the Allowance for Credit Losses in partnership with project team members in the Risk, Finance and Controllership areas
- Prepare and maintain documentation to evidence end-to-end data quality across business processes and data management systems within CCAST and across business-aligned Risk and Finance teams
- Prepare periodic progress updates for senior management, internal and external auditors and regulators
- Assist senior managers as necessary with process improvements to support compliance with the related guidelines and standards
- Assist with ACL process walkthroughs with various internal and external groups (KPMG, OCC, Fed, WF Audit Services) and respond to audit inquiries
- Coordinate with the Allowance team and the lines of business contacts to compile, support, and document the quarterly Allowance binder
Open to any location in the Wells Fargo footprintRequired Qualifications
- 7+ years of risk reporting experience, risk analytics experience, or a combination of both
- A BS/BA degree or higher in accounting, finance, or economics
- Experience in gathering, analyzing and interpreting large datasets
- Excellent verbal, written, and interpersonal communication skills
- Strong analytical skills with high attention to detail and accuracy
- Ability to interact with integrity and a high level of professionalism with all levels of team members and management
- Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
- Ability to research and report on a variety of issues using problem solving skills
- Advanced Microsoft Office (Word, Excel, Outlook, PowerPoint, and Access) skills
- Process documentation experience
- 7 years of audit, accounting, finance and/or risk-related analytics experience within the financial services industry
- Process mapping and data lineage documentation and related software (Visio, MS Project)
- Knowledge of commercial and/or consumer lending portfolios
- Knowledge and understanding of credit risk
- Modeling knowledge
- CPA, MBA, CFA, and/or CIA certification
- 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.