Wells Fargo

Job Category:

Banking/Mortgage

Location:

Frederick, Maryland

Country:

United States

Postal Code:

21701

Approximate Salary:

Not Specified

Position Type:

Full Time

Phone:

415) 820-7800

Enterprise Risk Consultant 4 - Qualitative Model Validation

Wells Fargo - Frederick, Maryland

Posted: 09/15/2018

Job Description

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.

About Wells Fargo: Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.7 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com), and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. 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.

Corporate Model Risk: Wells Fargo’s Corporate Model Risk is responsible for independently overseeing the management of model risk exposures across the enterprise (including governing, monitoring, and reporting on aggregate model risk exposures, model validations, and model oversight across enterprise). This oversight extends to all phases of a model’s life cycle, including identification, development, validation, implementation, finding resolution, usage, performance monitoring, documentation, and retirement.

Qualitative Model Validation: The Qualitative Model Validation group is responsible for validating and approving all qualitative models used across Wells Fargo including Credit, Liquidity, Market, Operational, Pre-Provision Net Revenue (PPNR), Finance, Balance Sheet, and Financial Crimes to name a few. The team’s responsibilities include performing model validations (independent reviews, writing validation reports, and approving model usage), annual reviews, performance monitoring, and issue management. The team works closely with model users, developers, model governance, and Corporate Functional Model Oversight (CFMO) teams to manage model risk to the firm and facilitate the model approval process.

The Role: The Qualitative Model Validator responsible for the quality, and completion of model validation to support business activities in areas of Liquidity Risk, Capital Planning, Financial Planning and Analysis and/or Asset and Liability Management including Stress Testing (DFAST/CCAR) and Resolution Planning as applicable.

Specifically this individual will have responsibility to:

  • Execute the Validation processes for his/her area of specialty in accordance to applicable Policies, in particular:
  • Ensure credible challenge of models through validation process.
  • Evaluate all relevant components of models and assess model soundness across lifecycle as applicable
  • Identify areas of weakness and work with Model Owners, CFMO, and other key stakeholders to ensure risk commensurate remediation,
  • Ensure timely validation delivery
  • Establish reporting and escalation protocols of review results and follow up on identified issues/observations.
  • Continually work to improve consistency and quality of independent model validation
  • Ensure all models within scope are independently validated per expected standards and schedule.
  • Build and maintain effective working relationships with LOB Model Governance, Model Owners, Model Program team members, and CFMOs across Wells Fargo.
  • Understand model risk supervisory guidance, Model Risk Management Policy, and current industry best-practices

The Candidate: This leader will have substantial experience in his/her area of specialty to facilitate credible challenge of the processes/models and to develop the skills of the validation team. Successful candidates will be articulate and capable of building collaborative working environments including leading process improvement projects.

**Open to all Major WF Hub locations but highly prefer Charlotte, NC**

Required Qualifications

  • 8+ years of experience in one or a combination of the following: finance, risk, or audit
Other Desired Qualifications

8+ years of experience or a combination in the following areas:

Liquidity Risk management

  • Experience in a combination of Liquidity Risk Management, Financial Planning and Performance Management, Operational Risk Capital, Capital Management Oversight
  • Understanding of Banking Balance sheet dynamics: (I.e relationship between tax values and book values, multiple currency dynamics)
  • Understanding on key drivers of liquidity in a complex banking environment and key regulatory requirements for key liquidity metrics.
  • Experience/understanding of debt product dynamics (changes in spread in stress scenarios)
  • Understanding of regulatory capital requirements in US Banking regulation and/or Basel III requirements including Operational Risk, Liquidity Risk and Tax.

Financial Planning & Analysis and Asset Liability Management:

  • Expertise in Banking Financial planning and analysis with particular focus on the balance sheet and net interest income components of Pre-Provision Net Revenue (PPNR)
  • Experience understanding financial projections of balance sheet, revenue and expense line items, particularly in capital stress testing scenarios and interest rate risk simulations
  • Understanding of banking balance sheet dynamics including drivers of change in book value, market value, portfolio mix, product pricing/spreads, multiple currency dynamics, interest rate driven optionality, etc. across stress scenarios and varying interest rate environments
  • Knowledge of regulatory guidance and industry best practices related to modeling balance sheet behaviors for CCAR/DFAST and Asset Liability Management interest rate risk simulations

Additionally:

  • Degree in statistics, math, engineering, physics, accounting, finance, economics, econometrics, computer sciences, or business/social and behavioral sciences with a quantitative emphasis preferred
  • Expertise analyzing and forecasting Wells Fargo’s balance sheet product behaviors, particularly deposits and other portfolios with embedded optionality preferred
  • Proficiency managing databases, spreadsheets, and programming (understanding code and coding).
  • Strong analytical skills with high attention to detail and accuracy
  • Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
  • Experience in producing work of highest quality within tight timelines, as well as creating, maintaining, and supporting processes subject to intense regulatory scrutiny
  • Excellent communication skills and experience in building and maintaining partnerships, collaborating across lines of business as well as with corporate partners
Disclaimer

  • 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.

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