Wells Fargo & Company (NYSE: WFC) is a leading global financial services company headquartered in San Francisco (United States). Wells Fargo has offices in over 30 countries and territories. Our business outside of the U.S. mostly focuses on providing banking services for large corporate, government and financial institution clients. We have worldwide expertise and services to help our customers improve earnings, manage risk, and develop opportunities in the global marketplace. Our global reach offers many opportunities for you to develop a career with Wells Fargo. Join our diverse and inclusive team where you will feel valued and inspired to contribute your unique skills and experience. We are looking for talented people who will put our customers at the center of everything we do. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.
Market Job Description
About Wells Fargo India Wells Fargo Indiaenables global talent capabilities for Wells Fargo Bank NA., by supporting business lines and staff functions across Technology, Operations, Risk, Audit, Process Excellence, Automation and Product, Analytics and Modeling. We are operating in Hyderabad, Bengaluru and Chennai locations.
Wells Fargo's Corporate Model Risk is responsible for independently overseeing the management model risk exposures across the enterprise (including governing, monitoring and reporting on aggregate model risk exposures, model validations and oversight across enterprise). This oversight extends to all phases of a model's life cycle, including identification, development, validation, implementation, finding resolution, usage, performance monitoring, documentation, and retirement.
Wells Fargo's Corporate Model Risk (CMoR) organization is seeking a highly qualified person to be a manager in the Stress Testing/Balance Sheet model Validation team. The individual will lead validation activities for models used for stress testing and balance sheet forecasting by various lines of business within Wells Fargo retail and commercial portfolio.
This highly visible position will interact with various key model stakeholders (such as the Credit & PPNR Modeling Center of Excellence, Corporate Functional Model Oversight, Model Monitoring teams, internal audit and regulators) and therefore requires someone with the ability to develop and maintain strong strategic partnerships. The ability to communicate with different audiences (technical staff, senior management, regulators) both verbally and in writing is critical. Critical review of team output, including preliminary technical analyses, validation findings, and validation report drafts is an essential aspect of the position. The team operates in a fast paced environment and the ability to multi-task and meet strict timelines is critical.
Work in close coordination with US SME leads to ensure validation deliverables are completed within expectations and define priorities.
Identify any concerns, anticipate challenges for the team and escalate any issues early to the SME leads or Head of Quantitative model validation
Establish an efficient interaction model with US partners to ensure seamless communications of team in India with team in the US. Provide consistent guidance to the team in coordination with US SME leads.
Ensure all validations are performed in accordance to applicable Policies and standards, in particular:
Ensure all aspects of validation are done thoroughly per guidance
Ensure delivery of schedule and efficient use and expertise of resources
Collaboratively work with functional team leads to drive validation quality
Drive innovation to improve effectiveness and efficiency of model validation and annual review
Establish a collaborative, diverse and inclusive environment within the validation team as well as among model user, developers, and oversight functions. Focus on creating an engaging environment for team development
Ensure team is adequately trained and motivate an environment of constant learning to develop the team capabilities
Interact with Regulators, Audit and any other review and control functions as necessary
This leader will have substantial experience managing teams with multifunctional capabilities and experience delivering high quality work product, improving and automating processes and ensuring compliance with required policies. Successful candidates will be articulate and capable to build collaborative working environments even when discussing areas of improvement.
Market Skills and Certifications
10+ of experiences in financial institutions with a strong background in either model development or model validation 8+ years of leadership or management experience
Significant experience in one or a combination of the following: reporting, analytics or modeling in one or more of the following areas:
Understanding of Banking Balance sheet dynamics: (i.e, relationship between tax values and book values, multiple currency dynamics)
Experience with CCAR processes, in particular PPNR models with understanding of key drivers and risks, monitoring processes, controls and reporting
Liquidity Risk Management experience. Understanding on key drivers of liquidity in a complex banking environment and key regulatory requirements for key liquidity metrics.
Credit Risk: Loss forecasting, score development, strategy development, collections strategy, portfolio management across consumer or wholesale products
Understanding of regulatory capital requirements in US Banking regulation and/or Basel III requirements including Operational Risk, Liquidity Risk and Tax.
Market Risk management: valuation of financial instruments including structured products, Understanding of components of Counter Party risk measurement of financial instruments and methodology for Other than temporary impairment (OTTI) and Other Comprehensive Income (OCI)
Assets and Liability Management
Financial Planning and Analysis:
Solid understanding of Model risk Principles and knowledge of SR 11-7 and SR 15-18. Experience in Model Validation or Model development a plus
Degree in Mathematics, Statistics, Engineering, Physics, Mathematical Finance/Economics or Computer Science, with experiences in numerical methods such as Monte Carlo, PDE, etc. A certification like CFA or FRM is a plus.
Experience in operational process implementation, audit or review of product programs or processes
Process design, tracking, analysis and reporting of key metrics
Strong programming skills in one or more of the following: Matlab, Python, or R.
Knowledge of Fraud, Bank Secrecy Act, anti money laundering, investigations of financial crimes transactions or policy
Violations, risk management, or compliance.
Proficiency managing databases, spreadsheets and programming (understanding code and coding).
Strong analytical skills with high attention to detail and accuracy
Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
Experience in producing work of highest quality within tight timelines, as well as creating, maintaining and supporting processes subject to intense regulatory scrutiny.
Excellent communication skills and experience in building and maintaining partnerships, collaborating across lines of business as well as with corporate partners.
Demonstrated ability to manage effectively in a matrixed organization, develop partnerships with many business and functional areas, understand the impact of the economic climate related to credit and financial risk to identify issues and opportunities in measuring credit, operational, compliance, and regulatory risk.
Leadership Expectations at Wells Fargo
As a Team Member manager, you are expected to achieve success by leading yourself, your team, and the business. Specifically you will:
Lead your team with integrity and create an environment where your team members feel included, valued, and supported to do work that energizes them.
Accomplish management responsibilities which include sourcing and hiring talented team members, providing ongoing coaching and feedback, recognizing and developing team members, identifying and managing risks, and completing daily management tasks.
We Value Diversity
At Wells Fargo, we believe in diversity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national or ethnic origin, age, disability, religion, sexual orientation, gender identity or any other status protected by applicable law. We comply with all applicable laws in every jurisdiction in which we operate.
Internal Number: 49362BR
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,400 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 260,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
www.wellsfargo.com | Twitter: @WellsFargo