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About this role
Wells Fargo is seeking a Quantitative Analytics Specialist
Corporate Risk helps all Wells Fargo businesses identify and manage risk. The team focuses on three key risk areas credit risk, operational risk and market risk. As the companys second line of defense, Corporate Risk or Independent Risk Management provides independent oversight of risk-taking activities. Independent Risk Management establishes and maintains Wells Fargos risk management program and provides oversight, including challenges to and independent assessment of the frontlines execution of its risk management responsibilities. Corporate Risk roles depend on a variety of skills, viz. data analysis and synthesis, root cause analysis, change management, process management & execution, risk governance, risk strategy, risk identification & assessment, risk prevention, controls & mitigation, risk monitoring, reporting & escalation, risk systems & technology.
In this role, you will
- Enhance modeling framework effectively ensuring consistency in modeling methodologies, Annual/Semi-Annual validations and Audit- tracking thereby ensuring controlled model risk
- Develop strategy for CCAR, CECL and Capital modeling of the bank's various products/portfolios and successfully defending Federal Reserve CCAR and OCC Annual Assessments
- Work closely with Corporate FP&A and LOB partners to develop and enhance the theory, framework and business logic behind the models and scenario forecasts
- Contribute to the bank's balance sheet and income statement modeling methodologies in support of treasury management, FP&A and capital planning by capturing interest rate risk in the banking book (IRRBB) by EVE
- Responsible for steering stakeholder conversations of user review and model challenge sessions with Business, Finance, Treasury and Model Risk Management for sign-offs on Champion & Challenger models
- Conduct econometric and statistical analysis of times series and panel data sets
- Knowledge on Python/R/SAS is must
- Experience on CCAR model development is must
- Knowledge on model life cycle (development, production, implementation and monitoring) and its intricacies are good to have
- Should possess strong documentation capabilities which would effectively convey complex models and processes
- Communicate design and results of complex models to a variety of audiences, including senior management, bank supervisors, Model Governance, Internal Audit and LOB end users. Coordinate with business partners, including production teams, and end users to ensure accurate model usage and implementation
- Adhere to model validation governance to ensure models are in compliance with policy and are working as intended, address model validation and regulatory feedback issues
- Solving model development and model production challenges in python with quick turn arounds
Risk Modeling Group (RMG)
The team is responsible for development and delivery of models leveraged for Credit Risk, Compliance Risk, and Operational Risk. These include models for credit and pre-provision net revenue (PPNR) forecasting, credit underwriting, collections, fraud, financial crimes, and fair lending.
Deposit & PPNR, Compliance, Liquidity & Operational Risk (DCLOR)
This team within RMG (Risk Modeling Group) is responsible for driving the development of deposit balance, yield, liquidity, and operational loss forecasting models, developing & conforming corporate risk policies and meeting the needs of line of business model owners. Apart from model development effort, the team is also engaged in other part of model life cycle i.e., model production, implementation and monitoring processes.
Deposit & PPNR
Deposit & PPNR team support Pre-Provision Net Revenue (PPNR) estimates including forecasting deposit balance & rate models to support ALM, FP&A, CCAR and Recovery and Resolution Planning. Team is responsible for the design, development, delivery, monitoring and production of econometric forecasting models for Deposit (Interest Expense), Fees (Non-II) & Expense (Non-IE) components to support business planning and economically sensitive CCAR submission.
Required Qualifications
2+ years of Quantitative Analytics experience, or equivalent demonstrated through one or a combination of the following work experience, training, military experience, education
Masters degree or higher in statistics, mathematics, physics, engineering, computer science, economics, or quantitative discipline
Desired Qualifications
- Masters degree or higher in a quantitative field such as Statistics/Economics
- 4+ years of experience in Deposit & PPNR, Treasury Analytics, or equivalent demonstrated through one or a combination of the following work experience, training, military experience, education
- 3+ years of experience in credit risk modeling and treasury/liquidity analytics
- 3+ years of advanced programming expertise in SAS or Python or R
- 3+ years of experience in team management (must)
- Strong documentation capabilities
- Strong project management skills with ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
- Excellent verbal, written, and interpersonal communication skills
- Strong ability to develop partnerships and collaborate with other business and functional areas
- Excellent verbal, written, and interpersonal communication skills.
- Perform various complex activities related to predictive modeling.
- Provide analytical support for development, remediation, monitoring, and production of Deposit & PPNR, Operational, Liquidity Risk, Financial Crimes models
- Support development, implementation, execution and monitoring of Regulatory models such as Basel, CECL, and CCAR models
- Develop dynamic dashboards analyze key risk parameters to help understand changes in business and model performance
- Identify opportunities and deliver process improvements, standardization, rationalization and automations. Enhance and standardize performance analysis, reporting packages and business loss forecast processes
- Maintain documentation for development, implementation and monitoring of processes across the team with focus on standardization of controls
- Ability to identify and manage complex issues and negotiate solutions within a geographically dispersed organization
Posting End Date
*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 USAll 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.
Candidates applying to job openings posted in Canada Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
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Disability Inclusion at Wells Fargo
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