Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message. In order to receive text message invitations, your profile must include a mobile phone number designated as 'Personal Cell' or 'Cellular' in the contact information of your application.
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. The team focuses on several key risk types, including conduct, credit, financial crimes, information security, interest rate, liquidity, market, model, operational, regulatory compliance, reputation, strategic, and technology risk. The group provides leadership, enhances communications, assists with problem identification and solutions, and shares best practices. In addition, the group provides an enterprise-wide view of risk, assists management and our Board of Directors in identifying and monitoring risks that may affect multiple lines of business, and takes appropriate action when business activities exceed the risk tolerance of the company.
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.
Qualitative Model Validation: 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 Role: The Qualitative Model Validator will be responsible for the quality and completion of model validation to support business activities across several areas. This role will cover models in the following areas, among others: securities valuation, investment and portfolio management, market & counterparty risk, stress testing, and financial planning & analysis.
Specifically this individual will have responsibility to:
- Execute the Model Validation processes for his/her 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, Cross Functional Model Oversight (CFMO), and other key stakeholders to ensure risk commensurate remediation,
- Ensure delivery of well written and timely validation reports outlining conceptual soundness of model.
- Strong knowledge of investment valuation, portfolio management, market risk and associated stress testing techniques
- 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
- Lead and train junior team members
The Candidate: This validator will have substantial experience in his/her area of specialty to facilitate credible challenge of the processes/models and to develop the skills of the junior validation team.Required Qualifications
- 7+ years of experience in risk management (includes compliance, financial crimes, operational risk, audit, legal, credit risk, market risk, IT systems security, business process management) or 7+ years of financial services industry experience, of which 5+ years must include direct experience in risk management
Other Desired Qualifications
- Knowledge and understanding of model review and validation
- Knowledge and understanding of report creation: validation processes
- Experience developing and executing communication strategies by collaborating with large, matrixed teams
- Knowledge and understanding of markets & investments: securities valuation, investment management, market & counterparty risk, and stress testing
- Degree in statistics, math, engineering, physics, accounting, finance, economics, econometrics, computer sciences, or business/social and behavioral sciences with a quantitative emphasis preferred
- Strong analytical skills with high attention to detail and accuracy
- Experience modeling and/or performing deep analytics across one or more of the following areas: securities valuation, investment management, market & counterparty risk
- Strong knowledge of model risk supervisory guidance and model validation requirements set forth there within
- Proficiency managing databases, spreadsheets or programming (understanding code and coding)
- Technical or academic writing skills and experience
- 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, collaborating across lines of business as well as with corporate partners
- Experience with SQL, Python, SAS, QRM and/or R
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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.