Wells Fargo is seeking a Lead Securities Quantitative Analytics Specialist (Vice President) to join the Mortgage Modeling Development Center within the Investment Portfolio.
The Lead Securities Quant hired into this role will be responsible for developing pricing models for agency and non-agency mortgages. The team will support the RMBS Trading Desk, Investment Portfolio and the Mortgage Servicing business. This includes ongoing monitoring and research related to mortgage model performance and the all end implementation and testing of and research into the group's internal and vendor pricing models.
A successful candidate must have strong expertise in the development of mortgage pricing and risk models, be familiar with Residential Mortgage-Backed Securities (RMBS) valuation, OAS framework and risk analysis and the interaction between prepayments and these models.
In this role, you will:
Serve as an expert advisor to senior leadership to develop or influence objectives, plans, specifications, resources, and long-term goals for highly complex business and technical needs across Securities Quantitative Analytics
Lead the strategy, implementation, and resolution of highly complex and unique challenges requiring in-depth evaluation across multiple areas companywide
Deliver solutions that are long-term, large-scale and require vision, creativity, innovation, advanced analytical and inductive thinking, and coordination of highly complex activities and guidance to others
Use quantitative and technological techniques to solve complex business problems
Create cutting-edge mortgage pricing models and empirical models, to provide insight into market behavior
Work constructively in collaboration with business, model development, model validation, and information technology
Required Qualifications:
5+ years of Securities Quantitative Analytics experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Desired Qualifications:
A master's degree or PhD in a quantitative discipline
3+ years' experience working in a mortgage development environment, supporting Wall Street trading desk.
Experience working with mortgage pricing models
Knowledge and understanding of mortgage analytics
Experience in programming languages and statistical software (C++, C#, VBA, R, Python), as well as understanding of SQL and relational databases
Experience using valuation/risk management systems (e.g. QRM, MIAC, Yield Book, PolyPaths, Algorithmics, etc.)
Excellent analytical, interpersonal, oral and written communication skills with a strong attention to detail across multiple audiences (Technology, Quants, Senior Management)
Ability to thrive in a deadline-oriented environment with a demanding workload
Ability to work through business challenges consistently, effectively, with a sense of urgency through collaboration, transparency, and leading to results
An impeccable reputation for integrity, accuracy, consistency, big picture orientation and business acumen
Self-motivated with a working knowledge of risk management fundamentals and policy creation
Possess exceptionally strong thought leadership with a proven ability to engage and influence Executive Management
Job Expectations:
Hybrid work arrangement
Ability to travel up to 10% of the time
**Note: The Mortgage Modeling Development Center has multiple openings within Investment Portfolio team developing pricing models and monitoring related to mortgage model performance.
Pay Range $144,400.00 - $300,000.00 Benefits
Wells Fargo provides all eligible full- and part-time employees with a comprehensive set of benefits designed to protect their physical and financial health and to help them make the most of their financial future. Visit Benefits - Wells Fargo Careers for an overview of the following benefit plans and programs offered to employees.
401(k) Plan
Paid Time Off
Parental Leave
Critical Caregiving Leave
Discounts and Savings
Health Benefits
Commuter Benefits
Tuition Reimbursement
Scholarships for dependent children
Adoption Reimbursement
Posting End Date: 11 Jul 2024 * Job posting may come down early due to volume of applicants.
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At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.
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