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 India enables 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.
Department Overview: Corporate Model Risk:Wells Fargo's Corporate Model Risk is responsible for independently overseeing the management of model risk exposures across the enterprise (including governing, monitoring, and reporting on aggregate model risk exposures, model validations, and model 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.
Specifically this individual will have responsibility to:
Execute the Validation processes for his/her area of specialty in accordance to applicable Policies, in particular:
Ensure credible challenge of models through validation process.
Evaluate all relevant components of models and assess model soundness across lifecycle as applicable
Identify areas of weakness and work with Model Owners, CFMO, and other key stakeholders to ensure risk commensurate remediation,
Ensure timely validation delivery
Establish reporting and escalation protocols of review results and follow up on identified issues/observations.
Continually work to improve consistency and quality of independent model validation
Ensure all models within scope are independently validated per expected standards and schedule.
Build and maintain effective working relationships with LOB Model Governance, Model Owners, Model Program team members, and CFMOs across Wells Fargo.
Understand model risk supervisory guidance, Model Risk Management Policy, and current industry best-practices
Market Skills and Certifications
Degree in statistics, math, engineering, physics, accounting, finance, economics, econometrics, computer sciences, or business/social and behavioral sciences with a quantitative emphasis preferred
5+ years of experience in financial in one or a mix of Planning and analysis, PPNR analysis and models, Asset and Liability management
Experience understanding financial projections of balance sheet, revenue and expense line items, particularly in capital stress testing scenarios
Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
Excellent communication skills and experience in building and maintaining partnerships, collaborating across lines of business as well as with corporate partners
Experience in producing work of highest quality within tight timelines, as well as creating, maintaining, and supporting processes subject to intense regulatory scrutiny
Proficiency managing databases, spreadsheets, and programming (understanding code and coding).Strong analytical skills with high attention to detail and accuracy
Expertise in Banking Financial Planning and analysis with particular focus on Pre-Provision Net Revenue (PPNR) across banking products.
Understanding of revenue and expense generating dynamics in asset and liability products.
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: 52398BR
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