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. 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 Market & Counterparty Risk Management (MCRM) organization within Corporate Credit & Market Risk is responsible for ensuring an appropriate Risk Management framework exists for products offered by the primary trading desks with particular emphasis on Counterparty Credit Risk. The Risk Management framework includes the identification, measurement, approval, pricing, aggregation and reporting of counterparty credit risk.
The Regulatory Reporting Team within Enterprise Counterparty Risk Management (ECRM) is responsible for implementing business processes necessary to facilitate compliance with challenging and changing regulations related to regulatory reporting. The purpose of this position is to provide business analysis and production support for all ECRM regulatory reporting requirements. In addition, a key focus for this position will be to work closely with reporting architecture, middle office, stress testing and technology teams to enhance the production, documentation and analysis capabilities of the group in order to meet heightened G&O and regulatory requirements.
ECRM is seeking a Market Risk Reporting Consultant with strong technical skills and a desire to learn about counterparty risk and regulatory reporting. This role will focus on the production of the Counterparty 14Q report and implementation of enhancements to the 14Q process. In addition, this role will require regular interaction with other teams across ECRM, middle office, and front office.
Responsibilities will include, but not be limited to, the following:
- Maintain a thorough understanding of relevant business, regulatory and risk requirements pertaining to FRY-14A/Q as well as maintaining an awareness of current regulatory trends, proposals and resulting impacts
- Produce, review and submit the FRY-14A/Q counterparty schedule
- Analyze the FRY-14A/Q report including trends, variance analysis and exposure attribution
- Prepare presentations related to FRY-14A/Q data submission, reporting processes and control artifacts, and present to regulators, internal audit and senior management
- Document data, process and methodology requirements related to the FRY-14A/Q submission
- Ensure the FRY-A/Q production process adheres to Governance and Oversight requirements
- Work closely with the Enterprise Regulatory Reporting team and Treasury to ensure all FRY-14A/Q reporting requirements are met
- Partner with ECRM Technology group on technical issues and assist in the development of interim and strategic solution
- Develop and provide derivative products and counterparty risk management expertise to ECRM team members and business partners. Subject matter expertise includes stress testing, potential future exposure, CVA, Net Current Exposure, aggregation methodologies, risk processes and reporting systems
- Respond to ad-hoc requests for data and/or presentations from senior managers, regulators, auditors and other sources
- 2+ years of capital markets experience, desk analyst experience, or a combination of both
- Intermediate Microsoft Office skills
- Strong analytical skills with high attention to detail and accuracy
- Excellent verbal, written, and interpersonal communication skills
- A Master's degree or higher in accounting, finance, or economics
- Chartered Financial Analyst (CFA) designation or demonstrated progress toward the designation
- Financial Risk Management Certificate (FRM)
- 3+ years of risk management experience
- Ability to interact effectively and confidently with senior management
- Experience communicating with business partners and project managers
- Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
- Knowledge and understanding of compiling and preparing executive summaries, whitepaper, and presentations for management/senior leaders
- High level of SQL expertise
- Experience using front office trading applications including Calypso, Endur and/or XVA
- Knowledge of a variety of asset classes and trading products; specifically derivatives
- Knowledge and experience with CVA calculations
- Understanding of credit risk (PFE, EL, credit capital) and/or market risk (valuation, Monte Carlo, Greeks, VaR) methodologies and systems
- Background in vendor market data applications
- Work experience in Middle-Office or Product Control type function
- Familiarity with non-cleared, exchange traded and cleared products
- Personal characteristics: comfortable multi-tasking, sound judgment, takes initiative, team player and attention to detail
- Experience with generating and formatting presentations within specific standards for senior management and client-facing businesses
- Familiarity with shared Excel models, templates and related formatting conventions
- 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.