| Job Description : |
About this role:
Wells Fargo is seeking a Quantitative Analytics Manager, who will lead The Qualitative Model Validation and will be responsible for the quality, coordination and completion of model validation to support business activities in areas of expertise (i.e.: FP&A, Market Risk, Investments, Valuations, etc), including Stress Testing (DFAST/CCAR) and Resolution Planning as applicable.
Qualitative Model Validation: The Qualitative Model Validation group is responsible for validating and approving all qualitative models used across Wells Fargo including Credit, Liquidity, Market, Operational, PPNR, Finance, Balance Sheet, Financial Crimes, to name a few. The responsibilities include performing and managing team conducting model validation (performing independent testing for validation, writing validation reports, and approving model usage), annual review, performance monitoring, and issue management. The team works closely with model users, developers, model governance, and Corporate Functional Model Oversight (CFMO) teams to manage model risk to the firm and facilitate the model approval process.
Corporate Model Risk: Wells Fargo’s Corporate Model Risk (CMoR) is responsible for independently overseeing the management model risk exposures across the enterprise (including governing, monitoring and reporting on aggregate model risk exposures, model validations and oversight across enterprise). This oversight extends to all phases of a model’s life cycle, including identification, development, validation, implementation, finding resolution, usage, performance monitoring, documentation, and retirement.
In this role, you will:
Develop and execute the validation processes for their area of specialty in accordance to applicable Policies, in particular:
Leverage technical knowledge in Capital Markets, Investments and Capital Stress Testing to ensure credible challenge of models throughout the validation process.
Evaluate all relevant components of models and assess model soundness across lifecycle as applicable
Identify areas of weakness and work with Model Owners, CFMO and other key stakeholders to ensure risk commensurate remediation,
Ensure timely validation delivery
Establish a collaborative, diverse and inclusive environment within the validation team as well as among model user, developers, and oversight functions. Focus on creating an engaging environment for team development
Manage team capacity and staffing to guarantee all policy related deliverables are completed with high quality.
Drive innovation to improve effectiveness and efficiency of model validation and annual review.
Manage cross-functional stakeholders and relationships to improve effectiveness of his/her area.
Understand model risk supervisory guidance, Model Risk Management Policy, and current industry best-practices.
Interact with regulators, audit and any other review and control functions as necessary
The Team: This position will lead a group of domestic and international team members. The selected candidate will be part of the qualitative model validation leadership team.
The Candidate: This leader will have substantial experience in their area of specialty to facilitate credible challenge of the processes/models and to develop the skills of the validation team. Successful candidates will be articulate and capable to build collaborative working environments even when discussing areas of improvement.
Required Qualifications, US:
4+ years of Quantitative Analytical experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
2+ years of leadership experience
Master’s degree or higher in a quantitative field such as mathematics, statistics, engineering, physics, or computer science
Desired Qualifications:
Understanding of banking balance sheet dynamics, capital markets activities (e.g., hedging, debt issuances), investment portfolio management, securities valuations for a wide variety of fixed income instruments, financial forecasting as well as market and counterparty risk principles
FRM / CFA certification
Capital markets and investment risk management experience. Understanding of key drivers of market, counterparty and investment risk as well as investment security valuations
Strong grasp of capital stress testing process and modeling
Experience/understanding of debt product dynamics in varying economic conditions
Understanding of regulatory requirements around capital markets, counterparty and investment risk
4+ years experience in one or a combination of the following: reporting, analytics or modeling
Experience in operational process implementation, audit or review of product programs or processes
Process design, tracking, analysis and reporting of key metrics
Degree in statistics, math, engineering, physics, accounting, finance, economics, econometrics, computer sciences, or business/social and behavioral sciences with a quantitative emphasis preferred
Proficiency managing databases, spreadsheets and programming (understanding code and coding).
Strong analytical skills with high attention to detail and accuracy
Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
Experience in producing work of highest quality within tight timelines, as well as creating, maintaining and supporting processes subject to intense regulatory scrutiny.
Excellent communication skills and experience in building and maintaining partnerships, collaborating across lines of business as well as with corporate partners.
A deep understanding of credit and finance process, data, and products across multiple line of businesses, systems and organizations
Demonstrated ability to manage effectively in a matrixed organization, develop partnerships with many business and functional areas, understand the impact of the economic climate related to credit and financial risk to identify issues and opportunities in measuring credit, operational, compliance, and regulatory risk.
Job Expectations:
We Value Diversity
At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees 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.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process. |
