Wells Fargo


Houston, Texas



Approximate Salary:

Not Specified

Position Type:

Full Time


415) 820-7800

Market Risk Consultant 3 for ECRM Oversight

Wells Fargo - Houston, Texas

Posted: 11/28/2018

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.

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 (ECRM) provides counterparty credit and related capital markets transaction 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 and Consumer Lending Group (Home Mortgage). Capital markets transactional business groups include macro products (FX and derivative), equities, and securities trading, amongst other groups.

The ECRM Commodities Desk Risk Officer (DRO) Group is responsible for independently overseeing the management of counterparty risk exposures including the monitoring and reporting of aggregate market and counterparty risk exposures across the commodities portfolio originated by the WFS Commodities Group.

Role of Market Risk Consultant 3

The role of the MRC 3 is to provide support to the Commodities DRO. The successful candidate will assist the Commodities DRO in risk oversight of the WFS Commodities Group Line of Business policies and procedures adherence to corporate level policies and procedures, monitoring and reviewing that transactions with exceptions are approved by appropriate risk oversight and/or appropriately escalated, and review of terms governing transactions to ensure they are appropriate and commensurate with the potential risks undertaken.

The successful candidate shall be highly motivated and have the ability to work independently with limited supervision in handling day-to-day matters while being an active team member.

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

• Independent identification, monitoring and reporting of counterparty credit risk factors and trends
• Ensuring consistent credit risk underwriting standards across the organization and products
• Establishment and monitoring of corporate level risk appetite metrics
• Ensuring line of business compliance with corporate and “child level” credit policies
• Reviewing and approving transactions which are exceptions to policy
• Promote line of business adherence to escalation and reporting responsibilities
• Review of documentation and structural terms governing financial and physical transactions
• Special projects to address Internal/External Audit or Regulatory Issues and/ or Senior Management inquires

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
  • Ability to take initiative and work independently with minimal supervision in a structured environment
Other Desired Qualifications
  • Proficient knowledge of OTC derivatives, preferably in commodities, and the associated documentation (ex. ISDA, NAESB)
  • Firm understanding of credit, counterparty and market risk concepts (i.e. – VaR, stress, Greeks, sensitivity measures and Monte Carlo simulation) specifically in the OTC Derivatives space.
  • Ability to develop strong relationships with various business and support partners
  • Completion of a bank credit training program
  • Experience in counterparty risk management or corporate banking
  • Industry certification(s): FRM, PRM and/or CFA

  • 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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