The Corporate Market Risk Oversight (“CMRO”) group within Wells Fargo Corporate Market and Institutional Risk is responsible for providing independent identification, review, analysis, and monitoring of market risks across Wells Fargo Corporation, including Rates, Commodities, Equities, Municipals and Structured Products.
Oversight officers work closely with multiple lines of business and related trading desks as well as Risk Analytics, Technology, Finance and other business partners. They play a key role in ensuring the completeness and accuracy of all market risk measurements including Value-at-Risk (VaR), Stress scenario exposure, and “greeks”. CMRO team members develop, generate and monitor reports for the desk and business-specific risks.
This Market Risk Officer position focuses primarily on the Commodities Trading desk within Wells Fargo Securities. The impact of this position is a trading desk that serves our corporate customers’ needs with predictable, bounded risk and adequate regulatory capital.
Responsibilities will include working with other CMROs and business partners to:
- Maintain Risk Mandates governing the appropriate activities and allowable risks in Commodities Trading.
- Create, run, and maintain periodic risk reports. Detect, analyze, and explain changes. Escalate measures that approach or breach limits.
- Actively review the desk’s daily positions, VaR, Stress, P/L attribution, and other metrics to identify and escalate key market risks for the portfolio.
- Work closely with the operations teams to ensure the daily risk reports accurately capture all trades, exposures, and risk.
- Work with Risk Analytics and Finance Teams to conduct independent price verification of commodity derivatives.
o Compare vendor and internal pricing data.
o Run valuation processes.
o Automate and expand price testing coverage.
- Provide commentary to senior management on risk exposures and related P&L.
- Collaborate with the front office and support partners on new product initiatives to recommend and implement an appropriate risk control framework.
- Work with subject matter experts to understand new or amended pricing models.
- Partner with other disciplines (credit, counterparty, compliance, operational, legal), both corporate and business, to ensure adequate independent risk coverage and compliance with risk limits
- Support relationships with regulators and internal audit.
- Provide extensive assistance to other CMRO team members and the business areas they cover.
3+ years of experience in one or a combination of the following: trading, desk analyst, or capital markets
Intermediate Microsoft Office skills
Strong analytical skills with high attention to detail and accuracy
Excellent verbal, written, and interpersonal communication skills
Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
Other Desired Qualifications
- Strong interpersonal and communication skills, and ability to work effectively with a wide range of business partners including traders and trading management, finance, operations, and technology.
- Analytical and mathematical experience.
- Extensive experience with Excel, VBA, and database queries (SQL).
- Able to function quickly and effectively with minimal supervision. Able to cope with a fast-paced work environment, be organized and detail-oriented.
- Bachelor’s degree in finance, math, physics, economics, statistics, computer science, or engineering.
- CFA / FRM / PRM / ERP designations.
- Sound knowledge of commodity and interest rate derivatives. Familiarity with FX, equity, and credit derivatives.
- Experience with and knowledge of market risk measurements and risk drivers for products listed above.
- Knowledge of trading conventions and operating processes for trading instruments.
- Familiarity with pricing and risk measurement calculations such as VaR, Stress, statistical distributions and pricing models, sensitivity measures, and Monte Carlo simulation.
- Experience in independent price validation of derivatives and trading assets.
- Experience using Openlink Endur and Bloomberg.
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.