Quantitative Anaytics Consultant 1 - Market Model Validation

Wells Fargo - New York, NY3.7

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.

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.

Wells Fargo Corporate Model Risk Group (CMoR) is seeking an experienced analyst to join its model validation team. You’ve got the passion. You’ve got the skills. Now you just need the right opportunity. At Wells Fargo, you’ll have the chance to join a team of smart and talented people who share the same values. 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.

The group provides leadership, enhances communications, assists with problem identification and solutions, and shares best practices. In addition, the group provides an enterprise-wide view of risk, assists management and our Board of Directors in identifying and monitoring risks that may affect multiple lines of business, and takes appropriate action when business activities exceed the risk tolerance of the company.

The Role:
The Corporate Model Risk (CMoR) group, an organizational unit housed within -Independent Corporate Risk Management is responsible for independently overseeing the management of model risk exposures and the quality of model risk management practices across the company. The Market Model Validation Team (MMVT) is responsible for validating and approving derivatives pricing models covering equity, FX, interest rates, structured products etc., counterparty and market risk models.

MMVT is seeking a Quantitative Analyst to work in this highly visible and critical team.

This individual is responsible for the validation of complex quantitative models; design and completion of independent testing related to those models; development of model benchmarks and alternative models to drive better model validation and model risk metrics.

Job responsibilities include but not limited to:
Performing model validations and clearly documenting evidence of validation activities;
Providing effective challenge to models developed in the lines of business; questioning that which is commonly accepted and to express one’s concerns, while respectfully collaborating with key stakeholders with a great deal of experience in their field.
Reducing model risk to meet or exceed regulatory and industry standards
Identifying conceptual weaknesses in a model 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

Required Qualifications

2+ years of experience in an advanced scientific or mathematical field
A master's degree or higher in a quantitative field such as mathematics, statistics, engineering, physics, economics, or computer science
2+ years of financial industry experience
4+ years of quantitative development experience

Other Desired Qualifications
PhD in a quantitative discipline such as mathematics, statistics, engineering, physics, economics or computer sciences
Experience in building or validating -derivatives pricing models in an academic or corporate environment
Experience with equity and FX exotics modelling acquired in a development or validation role.
Strong programming skills and experience with one of the following C++, Matlab, Python, Mathematica.
Good understanding of probability, stochastic calculus, linear algebra, numerical methods and their financial applications.
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

Street Address
NY-New York: 150 E 42nd St - New York, NY
NC-Charlotte: 401 S Tryon St - Charlotte, NC


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.