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. The Qualitative Model Validation group is responsible for validating and approving all qualitative models used across Wells Fargo. The team's responsibilities include performing model validations, annual reviews, performance monitoring, and issue management
About the Role:
The role is responsible for the quality, and completion of model validation to support business activities in Liquidity risk, including Stress Testing (DFAST/CCAR) and Resolution Planning as applicable.
Execute and Validation processes for market risk models by ensuring credible challenge of models, identify area of weakness and provide timely validation delivery
Establish reporting and escalation protocols of review results and follow up on identified issues/observations.
Understand model risk supervisory guidance, Model Risk Management Policy, and current industry best-practices
Build and maintain effective working relationships with LOB Model Governance, Model Owners, Model Program team members, and CFMOs across Wells Fargo.
Market Skills and Certifications
Degree in statistics, math, engineering, physics, accounting, finance, economics, econometrics, computer sciences, or business with a quantitative emphasis preferred.
5+ years of Liquidity risk, capital oversight for a large multinational bank or large US bank or major consulting firm
Experience in any of the following: Liquidity Risk Management, Financial Planning and Performance Management, Operational Risk Capital, Capital Management Oversight to facilitate credible challenge of the processes/models and to develop the skills of the validation team.
Understanding of Banking Balance sheet dynamics: (I.e. relationship between tax values and book values, multiple currency dynamics)
Understanding on key drivers of liquidity in a complex banking environment and key regulatory requirements for key liquidity metrics.
Experience/understanding of debt product dynamics (changes in spread in stress scenarios)
Understanding of regulatory capital requirements in US Banking regulation and/or Basel III requirements including Operational Risk, Liquidity Risk and Tax.
Experience with Basel III Liquidity
or Liquidity Stress Testing.
Experience with Liquidity, Treasury and ALM model validation.
Proficiency managing databases, spreadsheets, and programming (understanding code and coding).
Able to guide junior model validators
Strong analytical skills with high attention to detail and accuracy
Experience in producing work of highest quality within tight timelines, as well as creating, maintaining and supporting processes
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.
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: 55278BR
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