Wells Fargo

Job Category:

Perform Analysis, Wholesale

Location:

San Francisco, California

Country:

United States

Postal Code:

94102

Approximate Salary:

Not Specified

Position Type:

Full Time

Phone:

415) 820-7800

MBS Strategist

Wells Fargo - San Francisco, California

Posted: 09/8/2018

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.

Wholesale Banking provides financial solutions to businesses across the United States and globally. Our nine major business lines include Business Banking, Middle Market Banking, Government and Institutional Banking, Corporate Banking, Commercial Real Estate, Financial Institutions Group, Wells Fargo Commercial Capital, Wells Fargo Securities, and the Investment Portfolio. We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses.

The Wells Fargo Investment Portfolio (“IP”) comprises public and private investments for the Credit Investment Portfolio (“CIP”) and public investments for the Macro Investment Portfolio (“MIP”). With dual reporting to Wholesale (CIP) and Treasury (MIP), IP manages the portfolio of AFS and HTM investments.

The Macro Investment Portfolio (MIP) is responsible for maintaining a portfolio of fixed income investments to achieve liquidity, interest rate risk management, earnings, and capital management objectives on behalf of Corporate ALCO. MIP invests in high quality, highly liquid and readily marketable securities that are primarily U.S. Treasury and government agency mortgage backed securities. With a view towards longer term investing, MIP’s asset appetite is discretionary at the direction of ALCO to deploy a portion of the Company’s excess deposits in a safe and sound manner.

The MIP MBS Strategy Team focuses on strategy and modeling to develop and enhance a rigorous, analytical framework for MBS and other HQLA that may be used for investing, risk management, forecasting and stress testing. It serves as a key partner to other IP teams on MBS and prepayment modeling, forecasting, and stress testing, while participating in Mortgage COE efforts.

This position will report to the Head of MBS Strategy for the Investment Portfolio.
Primary Responsibilities:

  • Work with the MIP team to continually understand, assess and contribute to the portfolio allocation framework and evaluation of investment constraints
  • Work with groups within IP and with other quant and technology support partners to drive improved analytics, both for asset class level and portfolio modeling to broaden investment opportunities and improve risk management
  • Help represent the interests of IP for enterprise initiatives related to MBS
  • Represent the MIP team with internal risk partners when required
  • Help develop and mentor the junior talent pool within the MIP team and across IP

Team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.

Required Qualifications

  • 4+ years of investment research experience
Desired Qualifications

  • Ability to work in a fast paced deadline driven environment
  • Excellent verbal, written, and interpersonal communication skills
  • Strong organizational, multi-tasking, and prioritizing skills
  • Customer service focus with experience actively listening, eliciting information, comprehending customer issues/needs, and recommending solutions
  • Experience designing and post closing operational management of customized financing structures (including asset-backed, structured finance, reverse repo, or structured debt transactions)
  • Experience in asset-backed, structured finance, or structured debt transactions
  • Standard and non-standard structured credit products experience; including security custody and settlement
  • Transaction or structuring experience with a major investment bank, reputable hedge fund, or specialty finance firm
  • Ability to understand, operationalize, and assist in the structuring of complex financing transactions
  • Basic knowledge and understanding of capital markets pricing, legal, accounting, and tax concepts
  • Qualitative or quantitative structuring credit skills
  • Strong attention to detail and accuracy skills
Other Desired Qualifications
  • 5+ years of experience analyzing the Agency MBS market in a strategy or trading capacity
  • The candidate must have a detailed understanding of products such as pass-throughs, CMOs and interest rate products, market structure and market/macro factors affecting their valuation
  • The candidate must be familiar with the various valuation techniques for MBS including a strong understanding of prepayment and interest-rate term structure modeling, option adjusted spread analysis, as well as credit analysis
  • Must demonstrate a collaborative approach to work across multiple IP groups and with external business partners within Wells Fargo, and help represent IP to drive a durable, best-in-class strategy for MBS valuation and investing
  • Programming ability in Python, R and familiarity with data science
  • Familiarity with Fixed Income products and derivatives beyond MBS
  • Ability to act as a stakeholder, influence decision making and successfully negotiate critical issues with business and risk partners
  • Building and maintaining a team member environment that promotes engagement, continuous learning, and career development
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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