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 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.
Enterprise Counterparty Risk Management provides counterparty credit and related capital markets trading activity oversight. This team of risk management professionals works with key business groups that originate and manage counterparty risk. The originating counterparty credit risk business units include Wholesale Corporate Banking, Wells Fargo Securities, Wealth and Investment Management, Consumer Lending Group (Home Mortgage). Capital markets transactional business groups include Macro (FX and derivative), Equities, and Securities Trading, Prime Services, FCM and Funding/Capital & Liquidity amongst other groups.
This, highly visible, role will assist in the buildout of the counterparty oversight group within the Independent Risk Management function. This position requires the establishment and implementation of an oversight program for Prime Services, FCM and Funding/Capital & Liquidity business units. As with all team members, the individual will have responsibility and accountability for managing risk and will be evaluated on effective risk management, including compliance with applicable laws, rules, regulations, policies and procedures, ethical principles, and the Company's values. This leadership position will be tasked with influencing the strategic direction and providing oversight to the business groups in their management of counterparty risk. This individual will utilize self-initiative along with strong risk management expertise and analytical capabilities.
Responsibilities of this position include, but are not limited to, the following:
- Primary responsibility for FCM and other capital market trading activity
- Involvement in policy and procedures, participating at Regulatory meetings and in the counterparty infrastructure development Wells Fargo is currently undertaking.
- Present counterparty risk trends to relevant oversight committees and senior management periodically.
- Participate in various corporate and risk committees, providing a view on counterparty credit risk, including but not limited to emerging risks
- Work to ensure compliance all Internal WF policies, especially Market/Counterparty/Credit/Risk Management and ensure compliance with related regulations as appropriate.
- Liaise with multiple business partners including business group staff, independent risk management peers, internal product control, technology, and risk analytics groups in gathering and aggregating counterparty risk information.
- Expected to help Wells Fargo achieve its revenue and growth objectives, while ensuring an appropriate risk and regulatory structure is in place.
- Work with stakeholders to acquire accurate, complete, and timely data, analysis, and reporting.
- Escalate concerns as needed and ensure robust oversight and governance.
- Constructively challenge the standard approaches to risk management and find improved processes
- Work with Technology, as appropriate, to automate and upsize controls as needed.
- 10+ years of capital markets and securities industry experience
- Advanced Microsoft Office skills
- Strong analytical skills with high attention to detail and accuracy
- Excellent verbal, written, and interpersonal communication skills
- Strong understanding of risk management – credit, market and operational risk - with a focus on counterparty risk
- Ability to quickly establish credibility to build and maintain effective working relationships
- Demonstrate a strong understanding of capital market products, and related experience
- 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.
- Ability to execute in a fast paced, high demand, environment while balancing multiple priorities
- Prior experience in counterparty credit oversight
- Ability to work independently and build relationships across teams
- 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.