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 responsible for independently overseeing the management of model risk exposures and the quality of model risk management practices across the Wells Fargo. CMoR is seeking an experienced quantitative analyst to join its Model Validation team. Our diverse lines of business offer a world of opportunity to expand your capabilities and advance your career. We invest in our people and provide a supportive environment in which to learn and grow.
CMoR serves as the second line of defense to ensure the integrity of Wells Fargo's model inventory. A validation project typically begins and ends with the analyst, requiring broad and continuous attention to detail, comprehensive documentation, and interactions with developers. Meetings with auditors and regulators will require recall of validation details.
The responsibilities for this role include, but are not limited to, the following:
- Performing model validations and clearly documenting evidence of validation activities
- Providing effective challenge to models developed in the lines of business
- Reducing model risk to meet or exceed regulatory and industry standards
- Identifying conceptual weaknesses in models and understanding tradeoffs with other approaches
- Communicating model issues and limitations to key stakeholders
- Contributing to improvement of model building and use practices
- Providing analytical support and offering insights regarding a wide array of business initiatives
- Interacting with senior management and regulators on key modeling issues, including the identification, management, and mitigation of model risk
- 3+ years of experience working full-time in financial or research institutions
- A master's degree or higher in a quantitative field such as mathematics, statistics, engineering, physics, economics, or computer science
- 2+ years of experience in an advanced scientific or mathematical field
- A PhD in a quantitative discipline
- Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
- Excellent verbal, written, and interpersonal communication skills
- Good analytical and quantitative skills
- Knowledge and understanding of credit risk: modeling, econometric methodologies, and statistical simulation
Other Desired Qualifications
- Hands-on experience building or validating mathematical or statistical models in an academic or corporate environment highly preferred
- Knowledge and hands-on experience with models in one of these three areas: deposit business, CCAR PPNR, and liquidity risk management highly preferred
- Knowledge of financial industry practices and regulatory standards applied to model development, model validation, and capital
- Knowledge and experience in finance, econometric, statistical, or mathematical methods
- Experience as a quantitative model validator or model developer with extensive knowledge and hands-on experience from one of these three areas: investment management, retail banking, and mortgage credit risk
- Strong mathematical, statistical, analytical, and computational skills
- Ability to communicate to different audiences (other technical staff, senior management, and regulators) both verbally and in writing
- Capability to multi-task and finish work within strict timelines and provide timely requests for information and follow-up questions
- Skill in managing relationships with key model stakeholders
- Eagerness to contribute collaboratively on projects and discussions
- Perpetual interest in learning something new, but being comfortable with not knowing the all the answers
- Attention to detail in both analytics and documentation
- Aptitude for synthesizing data to 'form a story' and align information to contrast/compare to industry perspective