Counterparty Risk Governance
The Counterparty Risk Governance team is seeking a strong Market Risk Cons to join the group. Counterparty Risk Governance, within Enterprise Counterparty Risk Management (“ECRM”) is responsible for ensuring comprehensive and transparent counterparty risk governance practices are in place across the company. By examining all aspects of counterparty risk across the Enterprise the governance team looks to develop the primary governance tools and frameworks and work with the relevant teams to ensure they are fully and effectively implemented. This will include ensuring the development, approval, and ongoing review of policies and procedures; the establishment and documentation of appropriate governance bodies and ensuring transparent escalation protocols. Understanding of relevant counterparty regulatory guidance, rules and regulations and their specific impact on Wells Fargo will be of particular importance for this role.
The successful candidate will have a strong background in counterparty credit risk, with particular appreciation for the regulatory environment including Basel and Dodd Frank. Broad product knowledge is a must, including an understanding of the systems and technology frameworks within which counterparty products are typically sourced, modeled, aggregated and reported. Utilizing this knowledge, the candidate will develop innovative and efficient approaches to the verification of a range of counterparty activities, reports and submissions, building a portfolio of routines and approaches that can be applied in multiple situations. The position is also responsible for undertaking detailed self-assessments of ECRM’s activities benchmarked against regulatory expectations, and for reviewing and challenging line of business self-assessments.
Experience in a control function such as risk, finance or audit, and in the writing and editing of policies and procedures would be an advantage. The candidate will be working with risk, line and regulatory personnel and must be comfortable communicating to a broad range of audiences. Experience managing or coordinating small groups will also be valuable.
- 8+ years of experience in one or a combination of the following: trading, desk analyst, or capital markets
- Advanced Microsoft Office skills
- Strong analytical skills with high attention to detail and accuracy
- Excellent verbal, written, and interpersonal communication skills
Other Desired Qualifications
- Ideally seeking at least 5 years of experience in a counterparty-related field, or an area supporting counterparty risk such as finance, audit, middle office or in a consulting capacity
- Strong knowledge of counterparty related products (e.g. – derivatives, FX, repos, etc.) and their risks
- Familiarity with counterparty-related regulatory capital rules (Basel) and with the counterparty aspects of Dodd-Frank regulations
- Familiarity with inter-agency guidance on counterparty credit risk
- Experience with counterparty-related technology infrastructure and data flows
- Familiarity with CCAR/DFAST regulations and experience in the implementation of a stress testing framework
- Familiarity with exchange traded and clearing house products and structures
- Excellent written skills and demonstrated ability to present and explain ideas in a coherent and consistent manner
- Bachelor’s degree in a quantitative, finance or economics discipline is preferred, while an MBA or other finance or business-related post-graduate qualification is highly desired.
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.
0049435 CORP RISK/CORPORATE RISK
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