Market Risk Consultant 2 - Qualitative Model Validation

Employer
Wells Fargo
Location
Mclean, VA
Posted
Jul 13, 2018
Closes
Jul 16, 2018
Hours
Full Time
Job Description At Wells Fargo, we want to satisfy our customers' financial needs and help them succeed financially. We're looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you'll feel valued and inspired to contribute your unique skills and experience. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you. Corporate Risk helps all Wells Fargo businesses identify and manage risk. We focus on three key risk areas: credit risk, operational risk, and market risk. We help our management and Board of Directors identify and monitor risks that may affect multiple lines of business, and take appropriate action when business activities exceed the risk tolerance of the company. 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 including Credit, Liquidity, Market, Operational, Pre-Provision Net Revenue (PPNR), Finance, Balance Sheet, and Financial Crimes, 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 issue management. The team works closely with model users, developers, model governance, and Corporate Functional Model Oversight (CFMO) teams to manage model risk to the firm and facilitate the model approval process. The Qualitative Model Validator is responsible for the quality and completion of model validation to support business activities in areas of subject matter expertise, including Stress Testing (DFAST/CCAR) and Resolution Planning, as applicable. Specifically this Market Risk Consultant 2 - Qualitative Model Validation will have responsibility to: Execute the Validation processes for their 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 This consultant will also be responsible to develop the skills of the validation team and to build collaborative working environments including leading process improvement projects. Preferred locations are Charlotte, NC - West Des Moines, IA - Wilmington, DE - Minneapolis, MN - Saint Louis, MO - Frederick, MD - McLean, VA; however other Wells Fargo footprint locations will be considered. Required Qualifications 2+ years of capital markets experience, desk analyst experience, or a combination of both Desired Qualifications Intermediate Microsoft Office skills Strong analytical skills with high attention to detail and accuracy Excellent verbal, written, and interpersonal communication skills Other Desired Qualifications 4+ years of experience in one of the following areas: Market Risk, Counter Party, Capital Markets: Strong understanding of financial markets and products; reporting of model use and performance Strong understanding of forecasting process and methodology for OTTI, OCI, and PPNR Experience in valuation of financial instruments including structured products Understanding of components of Counter Party risk measurement of financial instruments Knowledge of CCAR/MCST assumptions and evaluation methodology to forecast risk drivers for different asset classes Knowledge/experience with Basel RWA methodologies Financial Planning and Analysis: 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 Experience understanding financial projections of balance sheet, revenue, and expense line items, particularly in capital stress testing scenarios Asset and Liability Management: 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 Experience understanding financial projections of balance sheet, revenue, and expense line items, particularly in capital stress testing scenarios In addition to one of the areas above: Proficiency managing databases, spreadsheets, and programming (understanding code and coding) 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 and collaborating across lines of business, as well as with corporate partners Disclaimer All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act. Relevant military experience is considered for veterans and transitioning service men and women. Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.