Quantitative Associate - Corp. Risk Model Development

Job Description
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 Risk Model Development (CRMD) is a team within the Market & Counterparty Credit Risk organization. CRMD is responsible for developing models in support of the Financial Crimes, Market Risk, Counterparty Risk, Fair Lending, and Operational Risk businesses. CRMD's activities include writing software in various programming languages, as well as crafting analysis using tools such as SAS and MATLAB. CRMD generally supports ongoing model-lifecycle activities, including validation, for the models it develops. CRMD develops models consistent with the Model Risk Management Policy, and as such is subject to oversight by Corporate Model Risk (CMoR).
The CRMD team is looking for strong Quantitative Associates to join the group. These individuals will be part of one of the following groups within CRMD:
• Operational Risk Modeling and Quantification team (ORMQ)
• Market Risk Analytics Group (RA)
• Financial Crime Model Development Center of Excellence (MDCoE)
Each of these teams is involved in a variety of activity across different lines of business in the company. The Quantitative Associate positions will have the ability to be challenged, learn, collaborate, influence, and most importantly the opportunity to grow. Responsibilities for these roles will include, but not be limited to, the following:
• Participate in model risk projects supporting varying purposes, methodologies and lines of business
• Design model monitoring methodologies and investigate performance issues through regular testing and monitoring.
• Research of industry progress for initiatives and new quantitative techniques
• Present and document model development results including data analysis, calibrations and model improvement details.
• Closely work with model owners to tweak model results to satisfy business judgement on risk factor selection and outcomes.
• Provide model document compliant with Wells Fargo model validation and governance requirements.
• Work with the Corporate Model Risk (CMoR) team and model owners to address any issues associated with a particular model.
• Understand business needs and provide possible solutions through clear verbal and written communications to management and fellow team members
• Read and understand technical papers and their application to Wells Fargo modeling problems
• Stay current with bank regulatory framework and developments
• Develop, analyze, and present methodologies to improve current FCA models
• Develop models to improve SAR effectiveness rates or incorporating additional risk factors for existing Financial Crime programs
• Develop and implement Operational Risk models in various categories used for quantifying CCAR forecasts for stress testing, Basel III regulatory capital, Structured Operational risk models and other internal Operational risk measurement tools.


Required Qualifications

  • Masters degree or higher in a quantitative field such as statistics, mathematics, physics, engineering, computer science, or economics upon start date of the program


Desired Qualifications
  • A PhD in a quantitative discipline
  • Excellent verbal, written, and interpersonal communication skills
  • Strong analytical skills with high attention to detail and accuracy
  • Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
  • Ability to develop partnerships and collaborate with other business and functional areas


Other Desired Qualifications
  • Knowledge and understanding of stochastic calculus, stochastic processes and derivative valuation
  • Knowledge and understanding of predictive modeling using statistical or machine learning techniques
  • Excellent computer programing skills or use of statistical software packages such as C/C++, Python, VBA, R, MATLAB, SAS or SQL
  • Ability to work effectively in a team environment and across all organizational levels, where flexibility, collaboration, and adaptability are important
  • Knowledge of financial crimes and/or AML models


Disclaimer

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.


Back to top