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 Corporate Model Risk (CMoR) group is part of Corporate Risk and is responsible for independently overseeing the management of model risk and the quality of model risk management practices across the company. CMoR operates as a center of excellence team for developing modeling methodology and practice to advance the Bank’s practice in the area of model development, validation, benchmarking, and monitoring.
The Decision Science and Artificial Intelligence (DSAI) Validation team is part of CMoR and responsible for independently reviewing all Wells Fargo models used in marketing, operational risk, financial crimes, fraud, cyber security, fair lending, credit scoring, conduct monitoring, and virtual interactions. These models are based on advanced analytical techniques and increasingly use machine learning, natural language processing, and artificial intelligence. As machine learning and artificial intelligence applications become pervasive in financial institutions, DSAI is focused on advancing model risk management practice and ensuring model suitability, stability, and safety of business processes and tools based on cutting edge modeling techniques.
DSAI is seeking a Quantitative Associate. As a Quantitative Associate, you will work as a full time team member and gain comprehensive professional and industry experience. Associates may be responsible for:
- Developing, implementing, calibrating, or validating models.
- Educating business leaders in the strengths and weaknesses of models.
- Providing risk leaders with analysis to successfully use the models to manage their risk.
A Quantitative Associate also has the opportunity to interact with Wells Fargo senior leaders and learn about various risk management areas including in depth strategy development, validation, and performance analysis.
Responsibilities for this role will include, but will not be limited to, the following:
- Perform core mathematical model development or validation under the direction of more experienced team members using programming languages and statistical packages such as R, MatLab, SAS, SQL, SPSS, and Mathematica.
- Produce required documentation to substantiate model development and/or validation.
- Perform historical and analytical research in response to requests or assignments.
- Understand credit processes, work flows, and issues related to modeling activities to sufficiently reflect them in work output or to make recommendations for process improvements.
- Understand business needs and provide possible solutions by explaining in a clear verbal and/or written communication to management and fellow team members.
- Lead and participate in projects or support activities which are moderate in size and organization span.
- Read and understand technical papers and their application to Wells Fargo modeling techniques.
- Stay up to speed on industry challenges and new and innovative modeling techniques to ensure Wells Fargo maintains “best in class” modeling approaches.
- Stay current with bank regulatory framework and developments.
- Bring closure to issues, questions, and requests.
- Solve problems independently or as a member of a team.
- Communicate model issues and limitations to key stakeholders.
- Interact with Model Validation, Model Monitoring, and Model Development teams.
- Masters degree or higher in a quantitative field such as statistics, mathematics, physics, engineering, computer science, or economics upon start date of the program
- A PhD in a quantitative discipline
- 2+ years of practical statistical programming experience with SAS, SQL, Python, R. H2O, Keras with Tensorflow, and large data files
- Strong programming skills with experience using statistical packages, particularly R, Python, and SAS
- Strong analytical and quantitative skills
- Familiarity with traditional statistical applications and knowledge of machine learning methodologies
- Excellent verbal, written, and interpersonal communication skills
- Track record of development and application of quantitative methodologies
- Quick learner who can accommodate rapid changes in analytical focus
- Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
- Team player with capacity for independent judgment, and a desire to share knowledge and work with colleagues
- A “can-do” personal style/attitude and the ability to work collaboratively with a variety of individuals
- 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.