Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message. In order to receive text message invitations, your profile must include a mobile phone number designated as “Personal Cell” or “Cellular” in the contact information of your application.
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.
Corporate Model Risk (CMoR) helps all Wells Fargo businesses identify and manage 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.
CMoR is seeking a quantitative analyst to join its Stress testing and Balance Sheet Model Validation team, focusing on validation of Asset Liability Management and Mortgage related models including liquid asset valuation and/or capital markets and interest rate derivatives and structured products validations. These models are used to support the management of the company’s entire balance sheet. This role requires the use of econometric, statistical or mathematical methods. Model validation may include development of the independent tests/benchmarks to challenge models from multiple perspectives and includes development of the software and data repositories to support this work. The successful candidate is also expected to be dedicated and self- motivated, and produce work that is consistent with CMoR’s recognized high standards.
Responsibilities for this role will include, but not be limited to, the following:
Performing model validations and clearly documenting evidence of validation activities
Develop benchmarking and alternative models in Python/R/MatLab
Providing effective challenge to models developed in/for the lines of business, including identifying conceptual weaknesses in a model and understanding tradeoffs with other approaches
Managing and mitigating model risk to meet or exceed regulatory and industry standards
Providing leadership and consultation to less experienced validators, business partners.
Communicating model risk findings and limitations to key stakeholders
Contributing to the improvement of model building and model 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
Proactively follow the industry trend to apply and develop new technology to improve efficiency.
A PhD in statistics, mathematics, physics, engineering, computer science, economics, or quantitative field; or a Master s degree in the above areas with 2+ years of experience in one or a combination of the previously mentioned fields above
Other Desired Qualifications
PhD in a quantitative discipline such as mathematics, statistics, engineering, physics, quantitative finance , economics or computer sciences, with strong quantitative and analytical skills
Master in Financial Engineering
Experience in the development and/or validation of ALM and/or mortgage related models
Experience with Artificial Intelligence/Machine Learning model development or validation
Knowledge of financial industry practices and regulatory standards on model development and model validation
Ability to communicate to different audiences (e.g., technical or non-technical staff, senior management and regulators) both verbally and in writing
Ability to work both independently and collaboratively, to multi-task, and to finish work within strict timelines, with attention to detail in both analysis and documentation
Skills in managing relationships with key model stakeholders
Intellectually curious; perpetual interest in learning something new
Python, R and Matlab experience
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