Job Description The Market & Counterparty Risk Management (MCRM) group is responsible for independently overseeing the management of market and counterparty risk exposures by monitoring and reporting exposures across groups, legal entities, geographies, and jurisdictions. The group is also responsible for setting market and counterparty risk management practices across the company.
MCRM facilitates the consistent management of individual and aggregate market and counterparty risk exposures within Board-approved risk tolerances and limit structures. MCRM is also responsible for stress testing and capital calculations for trading and counterparty risk.
The Corporate Functional Model Oversight for Market and Counterparty Risk models ("Market and Counterparty Risk CFMO") is part of MCRM. The team is a model governance function established to ensure that models are used within approved mandates, and perform as expected under business as usual as well as stress testing conditions.
The Market and Counterparty Risk CFMO team has 3 pillar functions:
Regulatory compliance : author clear policies and guidance specific to the 250+ Quantitative Tools and Methodologies we cover, translating all aspects of regulatory and corporate model policy requirements in terms applicable to these models
End to end QTM challenge : perform an end to end challenge function covering model adequacy in environments encompassing all uses to ensure that models (1) perform as expected, (2) comply with policies (2) are associated with risk mitigation programs when needed
Reporting and monitoring : independently monitor model use and specific aspects of model performance
To perform his or her functions, the Regulatory Compliance Manager:
Has a deep knowledge of regulatory guidance and firm policies. He or she is able to interpret them and provide guidance to business partners and maintain CFMO policy and procedures
Reviews or challenges and approves, as needed, business partner procedures related to model risk governance
Manages model risk governance programs aimed at providing risk mitigation for market and counterparty risk models
Operates in a fast-paced environment, and interacts on a daily basis with a broad range of business partners ranging from traders, market risk officers, quants and risk staff
Provides analysis and communicates with multiple committees, including the Model Risk Committee
Provides project management expertise and leadership to ensure plans are in place and progress is being made in resolution of regulatory issues
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
Knowledge and understanding of Regulatory Risk and Compliance policies and programs
Strong financial modeling skills
An active Chartered Financial Analyst (CFA) designation
Financial Risk Management Certificate (FRM)
A Master's degree or higher in a quantitative discipline
Ability to interact with integrity and a high level of professionalism with all levels of team members and management
Ability to take initiative and work independently with minimal supervision in a structured environment
Other Desired Qualifications
Experience in model risk management or financial markets regulatory risk management related to wholesale, trading, market and/or counterparty risk
Experience reviewing policies/regulatory requirements and translating into applicable business requirements
Experience with financial modeling and model performance analysis. Familiar with a variety of valuation models across different markets and products, and risk models, in a capacity of model developer, validator, or governance role
Experience working across multiple lines of business leading large scale initiatives and ability to build partnerships so as to drive organizational change and develop innovative solutions
Demonstrated business strategic planning and execution leadership experience ensuring the organization is, at all levels, aligned with the Bank's vision and objectives
Solid project management skills and experience: organized, and able to deliver high quality results under pressure and tight deadlines
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.