Wells Fargo

Job Category:

Risk/Compliance

Location:

San Francisco, California

Country:

United States

Postal Code:

94102

Approximate Salary:

Not Specified

Position Type:

Full Time

Phone:

415) 820-7800

Market Risk Mgr 3- Lead Balance Sheet CFMO

Wells Fargo - San Francisco, California

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 functions 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 balance sheet risk. 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. The role will be as lead Corporate Functional Model Officer (CFMO) providing analysis and governance for balance and income models. The role requires expert knowledge of ALM risk management, forecasting, balance sheet management and stress testing. As lead CFMO, the position will manage a small team of finance and quantitative professionals engaged in risk oversight and model governance.

Specifically, the role has responsibility for

  • Serving as subject matter expert providing insight into the models and forecasting approaches utilized for interest rate risk measurement and stress testing projections.
  • Providing ongoing oversight and challenge of quantitative and qualitative tools used in the measurement and management of the firm’s interest rate risk.
  • Developing independent insights into strengthens and limitations of model assumptions applied in a wide variety of scenarios
  • Maintaining appropriate stature and relationship with the Corporate Treasury ALM group, business line teams, and model developers/ owners to effectively facilitate discussions and resolve issues.
  • Understanding and implementing the Wells Fargo Model Risk Management policy, along with other policies and procedures applicable to CFMOs
  • Overseeing a team of CFMOs and partnering with model owners and CMoR to review and challenge to model development, risk rank, and performance.
  • Partnering with COE leaders, other CFMOs and Corporate Model Risk teams to develop solutions for and execute key initiatives supporting model risk governance across the firm.
  • Leading a small team quantitative professionals engaged in risk oversight and model governance.

The Candidate
He / She should demonstrate extensive knowledge and experience with banking book portfolio modeling and risk measurement, including deep knowledge of consumer and commercial loan and deposit behaviors, particularly in the asset-liability management context. Ability partner across cross-functional teams to drive projects to consensus and completion. Will have expert technical skills in ALM risk management and modeling that in turn will provide stature for review and challenge.

Required Qualifications

  • 10+ years of capital markets and securities industry experience
  • 5+ years of leadership experience
  • 3+ years of management experience
Desired Qualifications

  • Excellent verbal, written, and interpersonal communication skills
  • Strong analytical skills with high attention to detail and accuracy
Other Desired Qualifications
  • 10+ years of experience in credit risk, market risk and/or ALM risk management
  • 7+ years model development and / or model risk governance.
  • Ability to work independently and build partnerships across teams
  • Ability to develop and lead small teams of finance professionals

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

  • Knowledge or experience in the following
    • ALM risk management with particular in depth 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 and advocating 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
Disclaimer

  • 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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