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Market Risk Senior Associate, Deposits Corporate Functional Model Oversight

Wells Fargo

This is a Full-time position in Minneapolis, MN posted April 6, 2021.

nn Job Description nn nnImportant 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.nn nnAt Wells Fargo, we are looking for talented people who will put our customers at the center of everything we do.

We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired.nn nnHelp us build a better Wells Fargo.

It all begins with outstanding talent.

It all begins with you.nn nnAs the company’s second line of defense, Corporate Risk or Independent Risk Management provides independent oversight of risk-taking activities.

Independent Risk Management establishes and maintains Wells Fargo’s risk management program and provides oversight, including challenges to and independent assessment of, the frontline’s execution of its risk management responsibilities.

We manage risk according to the Risk Management Framework and ensure all employees understand their individual accountability for managing risk.nn nnThis position will sit within the Finance Risk Management (FRM) team.

The group oversees front line risk activities of the Finance organization.

The FRM team is responsible for enhanced effectiveness of Independent Risk Management oversight and creating streamlined IRM interaction and a comprehensive view of risks across the Finance organization.

This new team (established in late 2020) was assembled from existing teams that separately covered areas of Finance.

Many financial risks intersect and overlap and naturally have operational and compliance risks associated with them.

By creating a team with a comprehensive view of risks (Treasury Risks, Liquidity Risk, Interest Rate Risk, and Capital Adequacy), we increase our ability to manage them efficiently and effectively while streamlining our interactions with the Finance group led by the Chief Finance Officer.nn nnThe Market Risk Sr Associate will play an important role in the governance of Model Risk as a CFMO (Corporate Functional Model Oversight) with a specific focus on Commercial, Retail, and Wealth Investment Management (WIM) Deposits and possibly other areas across Finance.nn nnResponsibilities for this position will include, but not be limited to, the following:nn nnProvide CFMO coverage for quantitative and qualitative models across all oversight areas previously mentioned.

This includes such responsibilities as review and challenge of model changes, model exceptions, risk ranking changes, performance monitoring plans and results, as well as manage and run model challenge sessions.nn nnIn collaborations with the SMEs on the team: Assist in the effort to credibly challenge the oversight area previously mentioned.nn nnLead challenge meetings with the Front Line and present results of review and challenge to Senior Management, Committees, and Wells Fargo Audit as necessary.nn nnCollaborate with Corporate Model Risk to ensure continued compliance with the Model Risk Policy and the CFMO procedures as the independent risk management function for oversight areas previously mentioned.nn nnBuild and maintain effective working relationships with the Front-Line, other IRM, Wells Fargo Audit and other stakeholders.nn nnAbility to synthesize and effectively communicate complex financial concepts to a variety of audiences through excellent written and presentation skills.nn nnMaintain an independent and informed opinion regarding the current model risks of the Company as well as regulatory guidance.nn nn Required Qualifications nn 5+ years of experience in one or a combination of the following: market risk, capital markets, trading, or interest rate risk nn Desired Qualifications nn nnExcellent verbal, written, and interpersonal communication skillsnn nnStrong analytical skills with high attention to detail and accuracynn nnAdvanced Microsoft Office (Word, Excel, and Outlook) skillsnn nnAbility to coordinate completion of multiple tasks and meet aggressive time framesnn nnAbility to take initiative and work independently with minimal supervision in a structured environmentnn nnAbility to analyze quantitative or qualitative datann nnAbility to negotiate, influence, and collaborate to build successful relationshipsnn nnStrong organizational, multi-tasking, and prioritizing skillsnn nn Other Desired Qualifications nn nnMasters Degree in Math, Statistics, Economics, Finance or similar majornn nnBackground in Deposit products and modelingnn nnSignificant exposure to CCAR and Recovery and Resolution Planning (RRP), including knowledge of regulatory capital rules and liquidity standardsnn nnStrong knowledge of corporate policies and proceduresnn nnDedicated, highly motivated team player with ability to thrive in a demanding environmentnn nnUnderstand model risk supervisory guidance, Model Risk Management Policy and current industry best-practicesnn nn Job Expectations nn Ability to travel up to 10% of the time nn Disclaimer nn nnAll 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.nn nnRelevant military experience is considered for veterans and transitioning service men and women.nn nnWells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.nn nn Benefits Summary nn nn Benefits nn nnVisit for benefits information.nn nn Company: Wells Fargonn nn Req Number: 5569350-2nn nn Updated: 2021-03-23 13:09:17.914 UTCnn nn Location: Minneapolis,MNnn

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