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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 independently overseeing the management of market and counterparty risk exposures. The group is responsible for the identification, measurement, approval, pricing, 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:
- Compliance with policies and regulatory expectations. The Market and Counterparty Risk CFMO promotes compliance with regulatory expectations and other standards specific to the function
- 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
Practically, the Market and Counterparty Risk CFMO:
- 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 specific market conditions, in an environment of heightened regulatory expectations
- Provides analysis and communicates with multiple committees, including the 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
- Provides project management expertise and leadership to ensure plans are in place and progress is being made in resolution of model issues
- 3+ years of experience in one or a combination of the following: trading, desk analyst, or capital markets
- Intermediate Microsoft Office skills
- Strong analytical skills with high attention to detail and accuracy
- Excellent verbal, written, and interpersonal communication skills
- Experience developing partnerships and collaborating with other business and functional areas
- Knowledge and understanding of risk model assessment and outputs
- Knowledge and understanding of technical documents and procedures developments
- Strong project management skills
- 3+ years of experience with analytical methods used in statistical analysis, modeling, and reporting
- A Master's degree or higher in a quantitative discipline
- Ability to motivate staff to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
- Ideally 3+ years of experience in model risk management, modelling, trading or analytics
- Experience with financial modeling and model performance analysis.
- Familiar with a variety of valuation models across different markets and products, and risk models, in a capacity of model developer, validator, or governance role
- Experience effectively partnering with a wide range of business partners, including: model risk governance, quantitative analysts, traders and trading management, risk analytics, operations, technology, and other groups.
- Ability to communicate with model developers, model governance team members, and market and counterparty risk oversight team to identify key risks to be captured by a market or counterparty risk model for use and performance to be adequate
- Excellent written skills with experience at reviewing policies/regulatory requirements and translating into applicable business requirements
- 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.