Full 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. The team focuses on several key risk types, including conduct, credit, financial crimes, information security, interest rate, liquidity, market, model, operational, regulatory compliance, reputation, strategic, and technology risk.
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.
Wells Fargo Bank N.A. seeks a Quantitative Analytics Specialist 3 in San Francisco, CA.
Job Role and Responsibility:
Experienced quantitative analyst for the retail credit and PPNR Model Validation team. This team is responsible for overseeing or performing validations across Wells Fargo’s retail and balance sheet models used for a wide variety of business purposes. This team works closely with model developers and other model stakeholders (e.g., model owners and users, risk managers) during all model life cycle stages, including conceptualization, development, implementation, performance monitoring, remediation, and enhancement. Responsible for performing highly complex activities related to creation, implementation, documentation, validation, defense, and on-going maintenance of models grounded in complex statistical and mathematical theory. These models are used to quantify, analyze, and manage market, credit, counterparty, and operational risks, forecasts losses and compute capital requirements, and enable decision making in business, product, marketing, or other functional areas. Duties include advising on analytical strategies, and modeling, and offering insights regarding a wide array of business initiatives. Interact with regulators and auditors on key modeling issues, including identification, management, and mitigation of model risk. Ability to work independently on complex and critical projects with limited guidance from senior staff. Ability to communicate complex technical issues to different audiences (other technical staff, senior management, and regulators) both verbally and in writing. Must be able to multi-task, finish work within strict timelines, and provide timely responses to requests for information and follow-up questions.
Ph.D. degree in Mathematics, Statistics, Engineering, Physics, Economics, or Computer Science. Foreign degree equivalent accepted.
Two (2) years of experience in the job offered or as a Quantitative Analytics Specialist, Quantitative Associate, Statistical Analyst, or related role in financial modeling and/or quantitative risk management, to include internships and rotational programs.
Requires experience developing or validating a variety of statistical, machine learning and artificial intelligence (AI) models, including hazard models, logistic regression models, time series models, large-scale econometric models, gradient boosting machines, etc.
Requires understanding of the regulatory framework for financial institutions.
Must be able to perform model validations and clearly document evidence of validation activities, identify conceptual weaknesses in a model and understand tradeoffs with alternate approaches, provide effective challenge to models developed in lines of business, and reduce model risk to meet or exceed regulatory and industry standards.
Requires experience using statistical and data programming languages such as Python, R, and SAS.
Requires application of analytical, statistical modeling, and forecasting methods and focuses on the theory and mathematics behind the analyses.
Requires significant knowledge of financial products and/or portfolios assigned and the ability to synthesize data to form a story and align information to contrast/compare to industry perspective.
Requires ability to be quantitatively and technically oriented and have strong written and verbal communication skills.
Qualified applicants, send resume to: email@example.com and reference Requisition # 000682 in the subject line.