Market Risk Cons 4
The Enterprise Counterparty Risk Management (ECRM) organization within Corporate Credit & Market Risk is responsible for governance and oversight of Counterparty Credit Risk Management across the Wells Fargo Enterprise for capital markets traded products. Key activities include ensuring a sound counterparty credit risk management framework and infrastructure exists to approve, price, identify, measure, aggregate, and report this exposure throughout the firm. Specialized teams exist to focus on specific risk generating LOB's (FCM, Prime Services, Fixed Income, Equities, etc.), Governance, Oversight, Underwriting, Stress Testing/Capital, Risk Architecture, and Data Management
The Regulatory Capital and Stress Testing Group within Enterprise Credit Risk Management (ECRM) is responsible for implementing business processes necessary to facilitate compliance with challenging and changing regulations related to CCAR. The purpose of this position is to provide business analysis, and support for existing systems and several significant projects that Risk Management is undertaking to meet current and future CVA stress testing needs. A key focus for this position will be to understand, track, and manage all Governance & Oversight (G&O) practices, controls, and process flows that impact CCAR. This position will be an integral part of the team and will have to understand and operate all facets that impact CCAR within ECRM. More importantly, this candidate will help shepherd and execute key CCAR deliverables and ensure that they are in compliance with G&O standards. Primary responsibilities for the position will include, but not be limited to the following:
- Understand and in some cases create relevant business standards and processes given regulatory and risk requirements pertaining to CCAR; as well as maintain an awareness of current regulatory trends, G&O standards, and new business proposals and the resulting impacts to CCAR.
- Document various requirements, control processes, and methodologies that surround the Stress testing team. Also, shepherd and manage all key issues and escalations protocol related to CCAR.
- Create and manage change logs and work papers with the Report Mapping & Issue Identification (RMII) team to ensure all documentation is up to compliance and is accurate.
- Work closely and project manage key deliverables with Treasury and other key business partners to ensure all CCAR requirements and deliverables are vetted, understood, and delivered.
- Work with various Technology groups on technical issues and assist in the development of interim and strategic solution.
- Develop and provide expertise regarding trading products that impact counterparty risk management, specifically work on default fund management loss estimates and/or other model impacts related to Counterparty and CCAR.
This will be a highly visible position and the ability to develop a close working relationship with Counterparty Risk Analytics, Middle Office, Risk Technology and other risk management groups is critical and expected.
- 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
- Strong organizational, multi-tasking, and prioritizing skills
Other Desired Qualifications
- Ideally 3+ years of CCAR experience.
- Experience with Governance & Oversight standards and formats.
- 5+ years of either direct project management experience or business analyst experience (preferably within Capital Markets or Risk).
- Experience with CVA, trading products, and stress testing methodologies/models used.
- Exposure to credit risk (PFE, EL, credit capital) and/or market risk (valuation, Monte Carlo, Greeks, VaR) methodologies and systems;
- Experience using front-office trading systems and vendor market data applications
- Experience with exchange traded and clearing house products and loss estimates.
- Has developed support platforms or support models within capital markets.
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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Lauren audits Wells Fargo’s financial reports to assess accuracy and risk. She reviews processes in place, analyzes management controls, and communicates calculations and findings with business partners.
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