Wells Fargo

Job Category:



Charlotte, North Carolina



Postal Code:


Approximate Salary:

Not Specified

Position Type:

Full Time


415) 820-7800

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Market Risk Cons 3- Deposit CFMO

Wells Fargo - Charlotte, North Carolina

Posted: 10/11/2018

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.

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.

ALM Risk Team: The ALM Risk team is part of WFC’s Market and Counterparty Risk group which provides Independent Risk Management under the direction of the Company’s Chief Risk Officer. ALM Risk provides governance and oversight for the front-line risk-taking function related to balance sheet management. The team’s responsibility includes reviewing and challenging the interest rate risk forecasts the Bank uses to gauge risk appetite and stress test simulation results. The team also has model governance oversight through its CFMO coverage of PPNR and NII models. To carry out its responsibilities, the team partners closely with ALM, model owners, developers and validators to best understand the relevant models, projections and strategies which contribute to balance sheet projections and risk.

Job Description: ALM Risk monitors and challenges usage for over 100 models owned by Corporate ALM, the Balance Sheet COE and other Line of Business who contribute to projections of the WFC balance sheet. Models covered by the group include all asset and liability classes represented on the balance sheet including commercial loans, consumer loans, home lending, deposits and debt. This role will be as the senior Corporate Functional Model Officer (CFMO) providing analysis and governance for deposit models. The role requires expertise in deposit modeling, forecasting, balance sheet management and stress testing.

Specially, the role has responsibility for

  • Serving as subject matter expert providing insight into deposit models and forecasting approaches utilized for forecasting, risk measurement and stress testing.
  • Providing ongoing oversight and challenge of quantitative and qualitative tools used in the measurement and management of the firm’s deposit risk.
  • Developing independent insights into strengthens and limitations of model assumptions applied in a wide variety of scenarios
  • Developing effective relationships with the Corporate Treasury ALM group, business line teams, and model developers/ owners to facilitate discussions, provide independent oversight and resolve issues.
  • Understanding and implementing the Wells Fargo Model Risk Management policy, along with other policies and procedures applicable to CFMOs
  • Partnering with deposit model owners, developers and CMoR to provide review and challenge to model development, risk ranking, model usage and performance.
  • Engaging with COE leaders, other CFMOs and Corporate Model Risk teams to ensure compliance with policy and partner on key initiatives to support and execute model risk governance across the firm.

The Candidate
He / She should demonstrate strong knowledge and experience with asset-liability management in general and deposit modeling in particular. Expertise in risk quantification should include a strong knowledge of consumer and commercial deposit behavior modeling. Demonstrated ability to work independently and partner across teams. Will have strong technical skills in ALM risk management and modeling that in turn will provide stature for review and challenge.

Required Qualifications

  • 3+ years of experience in one or a combination of the following: trading, desk analyst, or capital markets
Desired Qualifications

  • Intermediate Microsoft Office skills
  • Strong analytical skills with high attention to detail and accuracy
  • Excellent verbal, written, and interpersonal communication skills
Other Desired Qualifications
  • 3+ years of experience in one or a combination of the following: trading, desk analyst, or capital markets
  • Other Desired:
  • 3+ years of experience in deposit risk, market risk and/or ALM risk management
  • 3+ years of model development and / or model risk governance.
    • Ability to work independently and build partnerships across teams

Post graduate degree in Finance, Economics, Math, Science, Engineering or similar field

  • Experience in the following
    • ALM risk management with particular expertise in IRR and stress testing projections, process and governance
    • Building and / or evaluating quantitative models for ALM risk management
    • Advanced knowledge in econometrics
    • Model risk governance
    • Communicating with regulators, auditors and other oversight bodies
    • Reporting, presentation, and project management in a banking environment
    • QRM, Polypaths or similar risk management system a plus

  • 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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