Wells Fargo is seeking a Lead Enterprise Risk Officer to join Treasury Asset-Liability and Liquidity (TALL) Model Validation Team within Model Risk Management (MRM)
Treasury Asset-Liability and Liquidity (TALL) Model Validation Team: The team is responsible for validating and approving various models used across Wells Fargo including Liquidity and Capital Risk, Deposits, Operational, Finance, Balance Sheet, and Business Planning to name a few. The team's responsibilities include performing model validations (independent reviews, writing validation reports, and approving model usage), annual reviews, performance monitoring, and model risk findings management. The team works closely with model users, developers, model governance, and financial risk oversight teams to manage model risk to the firm and facilitate the model approval process.
Model Risk Management (MRM): Model Risk Management is the second line of defense and is responsible for validating models, 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.
In this role, you will:
Be responsible for the quality and timely completion of model validation to support business activities across several areas. This role will cover models in the following areas, among others: Liquidity Risk, Capital Management, including Stress Testing (e.g., DFAST/CCAR), Recovery and Resolution Planning usages across legal entities.
Manage model risk for models for his/her area of specialty in accordance with applicable Policies and best practices, including executing the Model Validation processes, review and challenge of the on-going monitoring and model change management processes, and supporting model governance activities.
Act as an advisor to leadership to develop or influence risk management practices and activities, reporting, specifications, resources, and long-term goals for model risk program and technical needs across multiple front lines in the areas listed above.
Lead the strategy and resolution of highly complex and unique challenges for model risk program and activities.
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 and other key stakeholders to ensure risk commensurate remediation.
Ensure delivery of well written and timely validation reports outlining conceptual soundness of model 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 proactive and effective engagement with LOB Model Governance, Model Owners, Model Program team members across Wells Fargo.
Understand model risk supervisory guidance, Model Risk Management Policy, and current industry best-practices.
Lead and train junior team members
Required Qualifications:
5+ years of Risk Management experience (Compliance, Financial Crimes, Operational Risk, Audit, Legal, Credit Risk, Market Risk, IT Systems Security, Business Process Management) or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education.
Desired Qualifications:
CFA or FRM certifications highly desired
Liquidity Risk Management: Liquidity Risk, Capital Planning, Recovery and Resolution Planning usages, Stress testing. Deep understanding and experience in liquidity metrics and forecasting related to LCR, ILST, RLAP, RLEN, forecasting.
Financial Planning and Assets and Liability Management: Understanding of banking balance sheet dynamics including drivers of change in book value, market value, portfolio mix, product pricing/spreads, multiple currency dynamics, interest rate driven optionality, etc. across stress scenarios and varying interest rate environments.
Deposits, with interest rate and liquidity dynamics
Capital markets, investment portfolio, securities products
Expert understanding of Model Risk Management framework and regulatory guidance including understanding of validation of models in treasury and finance for large G-SIB banks
Deep familiarity with Wells Fargo's data and information systems, functional areas of liquidity, capital, deposits, and ALM, legal entities, and operating environment.
Degree in statistics, math, engineering, physics, accounting, finance, economics, econometrics, computer sciences, or business/social and behavioral sciences with a quantitative emphasis
Technical or academic writing skills and experience
Strong analytical skills with high attention to detail and accuracy
Proficiency managing databases, spreadsheets or programming (understanding code and coding)
Experience in producing work of highest quality within tight timelines, prioritizing work as well as creating, maintaining, and supporting processes subject to intense regulatory scrutiny 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.
Knowledge and experience with Altyrex, SQL, Python, SAS, QRM, Python
Job Expectations:
Willingness to work on-site at stated location on the job opening.
This position offers a hybrid work schedule.
Job Posting Locations:
401 S Tryon St Charlotte, NC
600 S 4th St, Minneapolis, MN
Pay Range
Reflected is the base pay range offered for this position. Pay may vary depending on factors including but not limited to achievements, skills, experience, or work location. The range listed is just one component of the compensation package offered to candidates. $111,100.00 - $197,500.00 Benefits
Wells Fargo provides eligible employees with a comprehensive set of benefits, many of which are listed below. Visit Benefits - Wells Fargo Jobs for an overview of the following benefit plans and programs offered to employees.
Health benefits
401(k) Plan
Paid time off
Disability benefits
Life insurance, critical illness insurance, and accident insurance
Parental leave
Critical caregiving leave
Discounts and savings
Commuter benefits
Tuition reimbursement
Scholarships for dependent children
Adoption reimbursement
Posting End Date: 16 Jan 2025 * Job posting may come down early due to volume of applicants.
We Value Diversity
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.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo .
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