Wells Fargo


Charlotte, North Carolina


United States

Postal Code:


Approximate Salary:

Not Specified

Position Type:

Full Time


415) 820-7800

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Market Risk Cons 4 Specialty Risk (Reinsurance, BOLI, REEF)

Wells Fargo - Charlotte, North Carolina

Posted: 10/11/2018

Job Description

At Wells Fargo, we have one goal: to satisfy our customers’ financial needs and help them achieve their dreams. 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 and Counterparty Risk Management Group (MCRM) within the Corporate Credit & Market Risk organization provides company-wide leadership, support, and oversight to ensure effective understanding and management of market and counterparty risk across the company.

Specialty Risk Group is responsible for Independent risk management of WF Reinsurance, BOLI and REEF functions within the context of Market and Counterparty Risk Management. The team’s responsibilities include risk assessment of reinsurance contracts and amendments (including insurance risks), risk assessment for BOLI and REEF portfolios, risk governance and policies, tail risk modeling and measurement, risk appetites, and ensuring appropriate compliance with various risk policies. The Specialty Risk team is part of the broader ALM Risk Group, and works closely with Market Risk, Credit Risk, Risk Analytics, Model Risk, Investment Portfolio, Finance, Technology, regulators, and other stakeholders to ensure that independent risk assessments, analysis and reporting are accurate and complete.

Role of Specialty Risk Senior Analyst

This is a key role within Specialty Risk team, and reports to Head of Specialty Risk. The position will cover a broad range of items including Reinsurance Risk, BOLI and REEF. This position will support risk assessment of various Reinsurance contract amendments including required modeling and analytics, supporting compliance with various risk policies including model risk policy, and supporting risk management activities associated with BOLI and REEF portfolios. A successful candidate will possess self-initiative along with strong risk management expertise, analytical capabilities, and robust verbal and written communication skills.

Responsibilities of this position include, but are not limited to:

  • Risk assessment of various Reinsurance contract amendments, including associated modeling and analytics. Production of detailed risk assessment memorandums that support risk management opinions on contract amendments.
  • Liaise with multiple business partners including line of business staff, risk management partners including market risk, credit risk, investment portfolio and technology functions in determination of tail risk metrics and compliance with risk appetites.
  • Support continued development of tail risk modeling including insurance risks, and work with external consultants as well as model risk team to ensure appropriate review and validation.
  • Work with stakeholders to determine any contingent credit exposures within specialty risk area, and ensure reporting to appropriate credit officers for further aggregation.
  • Support stress testing, regular review and formal challenge sessions in context of CCAR and mid-cycle requirements
  • Demonstrate a deep understanding of (re)insurance products, including statutory and GAAP/mark-to-market insurance accounting concepts, and awareness of evolving regulatory standards within the (re)insurance industry
Required Qualifications

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

  • Advanced Microsoft Office skills
  • Strong analytical skills with high attention to detail and accuracy
  • Excellent verbal, written, and interpersonal communication skills
Other Desired Qualifications
  • Demonstrate a strong understanding of capital market products, and experience with financial and accounting concepts (particularly as it relates to (re)insurance) and reporting tools
  • Experience in an environment that requires attention to detail, critical thinking and problem-solving skills as well as being able to work independently, be highly organized; able to prioritize multiple tasks, and take on new challenges.
  • Prior experience in (re)insurance industry, BOLI and/or REEF
  • Ability to work independently and build relationships across teams
  • Bachelor’s degree in a quantitative discipline, such as Economics, Finance, Math, Accounting or similar quantitative major.
  • Industry certification such as an actuarial designation (FSA) or CFA strongly preferred.
  • Strong computer skills with knowledge of VBA, SQL, or other scripting language. Familiarity with (re)insurance modeling platforms such as MG-ALFA desirable.

  • 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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