Senior Quantitative Analytics Specialist (AVP)– Model Risk Management, Trading and Markets Risk Models

Model Risk Management (MRM): The Model Risk Management team is responsible for end-to-end oversight and risk management of models used across the enterprise. This includes the assessment and mitigation of risk created by models throughout the model lifecycle including Development Validation Usage and Ongoing Monitoring.

Trading and Market Risk Division of MRM is responsible for the validation performance monitoring and oversight of models used in trading market and counterparty risk management. These models are used to price and hedge trading (including derivatives and fixed income) transactions as well as to measure the risk of possible economic loss from adverse changes in market risk factors such as equity and commodity prices interest rates credit spreads foreign exchange rates mortgage rates market liquidity dynamics or counterparty defaults. Markets MRM is also responsible for models specifically designed for electronic trading activities including signal models and order execution strategies.

About this role:

Markets MRM is seeking an experienced Senior Quantitative Analytics Specialist (Assistant Vice-President) to join the Trading and Market Risk Division. Our diverse coverage offers a world of opportunities to expand your capabilities in both front office trading models and risk management exposure models to advance your career in quantitative risk management and market risk management. We invest in our people and provide a supportive environment in which to learn and grow.

The main responsibility of the successful candidate will be to provide risk assessment of models throughout their lifecycle. This requires an inquisitive mindset and a willingness to challenge (even established) modeling choices and assumptions to design relevant testing scenarios to numerically implement model components to conduct and analyze comprehensive testing and to develop alternative models. Each of these steps needs to be executed and documented with risk-based rationale to support or invalidate modeling choices assumptions and adequacy in the context of the model purpose and usage.

This highly visibly position will provide interaction with various key model stakeholders and therefore requires someone with the ability to develop and maintain strong strategic partnerships. The ability to communicate with different audiences (technical staff senior management regulators) both verbally and in writing is very important. The team operates in a fast-paced environment and the ability to multi-task and meet strict timelines is critical.

In this role you will:

• Perform model validations and clearly documenting narrative of validation perspective

• Provide effective challenge to models developed in the lines of business (LOB)

• Develop alternative benchmarking models or replicating LOB models(CIB)

• Reduce model risks to meet or exceed regulatory and industry standards

• Identify conceptual weaknesses in a model and understanding tradeoffs with other approaches

• Communicate model issues and limitations to key stakeholders

• Contribute to improvement of model building and use practices

• Provide leadership and consultation to less experienced validators

• Provide analytical support and offer insights regarding a wide array of business initiatives

• Interact with senior management and regulators on key modeling issues including the identification management and mitigation of model risk

• Communicate with different audiences (other technical staff senior management and regulators) both verbally and in writing

• Manage relationships with key model stakeholders

Required Qualifications:

• 4 years of Quantitative Analytics experience or equivalent demonstrated through one or a combination of the following: work experience training military experience education

• Masters degree or higher in a quantitative discipline such as mathematics statistics engineering physics economics or computer science

Desired Qualifications:

• PhD in quantitative fields such as Mathematics Statistics Engineering Physics Economics or Computer Science.

• Relevant experience in model development research or validation in the areas of computational mathematics

• Hands-on object-oriented coding experience (Python C and Java are most relevant)

• Knowledge of stochastic processes stochastic calculus Monte Carlo methods numerical methods (finite differences optimization)

• Knowledge of derivatives products and related market risk management process

• Experience as quantitative analyst of financial models. Specifically experience in one or more of the following:

  • Excellent understanding of derivatives pricing theory and hands-on experience in development validation or research in derivatives pricing models in equity commodity credit term structure rates models volatility and/or curve and dividend models.

  • Electronic and Algo trading Equities market microstructure and trading workflows: order execution algorithms (seeking liquidity while minimizing market impact and volatility risk); trading venues order types order routing; market signal events with statistical analysis and machine learning; tools for trade cost analysis benchmark tracking

• Knowledge of regulatory requirements of industry practices in model risk management under SR 11-7.

Job Expectations:

• Ability to travel up to 15% of the time.

• This position offers a hybrid work schedule.

• Willingness to work onsite at stated location on the job posting.

• This position is eligible for VISA sponsorship.

Job Posting Locations:

• 401 S Tryon St Charlotte NC

Pay Range

Reflected is the base pay range offered for this position. Pay may vary depending on factors including but not limited to achievements skills experience or work location. The range listed is just one component of the compensation package offered to candidates.

Posting End Date:

*Job posting may come down early due to volume of applicants.

We Value Equal Opportunity

Wells Fargo is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race color religion sex sexual orientation gender identity national origin disability status as a protected veteran or any other legally protected characteristic.

Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit Market Financial Crimes Operational Regulatory Compliance) which includes effectively following and adhering to applicable Wells Fargo policies and procedures appropriately fulfilling risk and compliance obligations timely and effective escalation and remediation of issues and making sound risk decisions. There is emphasis on proactive monitoring governance risk identification and escalation as well as making sound risk decisions commensurate with the business units risk appetite and all risk and compliance program requirements.

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To request a medical accommodation during the application or interview process visitDisability Inclusion at Wells Fargo.

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Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.

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