Quantitative Analytics Specialist 4 - Now Accepting Resumes!
The Corporate Model Risk Group (CMoR) is seeking an experienced 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 is responsible for independently overseeing the management of model risk exposures and the quality of model risk management practices across the company. Wealth and Investment Management (WIM) models are used to help constructing investment portfolios/strategies for clients; and measuring, monitoring and managing risks for the portfolios of client investments. They may also be used to help clients’ financial planning, to satisfy relevant regulations and to support WIM business operations.
This highly visibly position will provide interaction with various key model stakeholders and therefore requires someone with the ability to develop and maintain strong strategic partnerships. The ability to communicate with different audiences (technical staff, senior management, regulators) both verbally and in writing is very important. The team operates in a fast paced environment and the ability to multi-task and meet strict timelines is critical.
Responsibilities for this role will include, but not be limited to, the following:
Completing model validations timely and effectively under firm’s model risk management policies, regulatory guidance, and industry best practices.
Reducing model risk to meet or exceed regulatory and industry standards with effective challenges to business models in the areas of developmental data, framework, assumptions, specification, and implementation.
Identifying model weaknesses with keen understanding of industry best practices and tradeoffs between different approaches.
Communicating clearly and effectively model issues and limitations to key stakeholders in both validation reports and model forums.
Working with stakeholders to resolve validation findings and review mitigating controls over limitations.
Contributing to the improvement of validation processes by developing and improving standards and procedures.
Leading and contributing to model libraries, testing automation tools, and training of junior team members.
Interfacing actively with senior management and key stakeholders on key modeling issues, weaknesses of the processes or procedures, and driving toward practical solutions.
Engaging effectively with regulators, internal audits, and other key stakeholders with respect to models, validation activities, model risk identification, and model risk management.
NOW ACCEPTING RESUMES
Please send to: mailto:TargetedSourcingRecruitingTeam@wellsfargo.com
A master's degree or higher in a quantitative field such as mathematics, statistics, engineering, physics, economics, or computer science
4+ years of experience in an advanced scientific or mathematical field
Other Desired Qualifications
7+ year of relevant experiences in model development, research or validation in the areas of fiduciary and investment risk, portfolio management, financial planning and capital market assumptions at financial institutions, software companies, teaching/research institutions, or other related entities.
Hands-on experience in the development and validation of models in support of wealth and investment management businesses
Hands on experience using Python or R
Solid background in mathematical and/or statistical techniques such as Monte Carlo simulation, optimization, time series modeling and machine learning
Excellent verbal and written communication skills; ability to summarize, document, and communicate critical information; ability to convey results to diverse audiences, of either technical or non-technical background.
Ability to engage diverse stakeholders for the planning and completing of complex model validation projects independently and effectively.
Knowledge of model risk management practices and familiarity with regulatory requirements for sound model risk management practices such as SR 11-7, SR 15-18 and Basel - FRTB.
Additional Salary Information: Competitive - Will vary by location
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,400 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 260,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
www.wellsfargo.com | Twitter: @WellsFargo