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Market Risk Consultant 2 - Model Oversight

Wells Fargo | St. Louis MO 63104 USA | Full Time | Posted: 10/11/2019

Job Descriptiontop

Job Description

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.

The Market & Counterparty Risk Management (MCRM) organization within Corporate Credit & Market Risk is responsible for independently overseeing the management of market and counterparty risk exposures. The group is responsible for the identification, measurement, approval, pricing, and aggregation and reporting of market and counterparty credit risk. Within MCRM, the Corporate Market Risk Group (CMRG) is responsible for market risk management. The Corporate Functional Model Oversight for Market and Counterparty Risk models (“Market and Counterparty Risk CFMO”) is part of the Corporate Market Risk Group (CMRG).

The Market and Counterparty Risk CFMO is a subject matter expert for models used to measure market and counterparty risk. These models are used to price and hedge trading transactions, as well as measure the risk of possible economic loss from adverse changes in market risk factors such as interest rates, credit spreads, foreign exchange rates, equity and commodity prices, mortgage rates, market liquidity dynamics, or counterparty defaults. He or she is expected to provide a sound business perspective and practical understanding of how Market and Counterparty Risk models are used, and their anticipated performance given certain market conditions.

Market and Counterparty Risk CFMO responsibilities may be categorized in the following areas:

  • Model oversight and credible challenge. The Market and Counterparty Risk CFMO provides model oversight – that models are appropriate for their specific intended use, and perform as expected under business as usual and stress testing conditions
  • Compliance with policies and regulatory expectations. The Market and Counterparty Risk CFMO promotes compliance with regulatory expectations and other standards specific to the function


  • Operates in a fast-paced environment, and interacts on a daily basis with a broad range of business partners ranging from traders, market and counterparty risk officers, quants and risk staff
  • Reviews and approves the use of models for pricing , hedging and risk measurement of trading transactions and counterparty risk
  • Is expected to provide credible challenge to models, especially as it pertains to their performance or their use given prevailing or stressed market conditions, in an environment of heightened regulatory expectations
  • Provides analysis and communicates with multiple committees, including the Market Risk Committee and Model Risk Committee
  • Has a deep knowledge of regulatory guidance and firm policies. Must be able to interpret them and provide guidance to business partners

Required Qualifications

  • 2+ years of capital markets experience, desk analyst experience, or a combination of both

Desired Qualifications

  • Intermediate Microsoft Office skills
  • Strong analytical skills with high attention to detail and accuracy
  • Excellent verbal, written, and interpersonal communication skills
  • 2+ years of derivatives experience
  • 2+ years of model governance experience
  • 2+ years of risk management experience
  • Ability to develop partnerships and collaborate with other business and functional areas

Other Desired Qualifications
  • A Master's degree or higher in a quantitative discipline
  • Knowledge and understanding of risk model assessment and outputs
  • Knowledge and understanding of technical documents and procedures development
  • CFA or FRM certification preferred but not required
  • 2+ years of experience with fixed-income, interest rate, derivatives or VaR modeling in a capacity of model developer, validator or governance role
  • 2+ years of experience in model risk management including model performance analysis and writing related policy and translating policy/regulatory requirements into applicable business requirements.
  • Reliable team player with strong personal integrity, work ethic and positive attitude
  • Strong interpersonal skills to work effectively with a wide range of business partners including: model risk governance, quantitative analysts, traders and trading management, risk analytics, operations, technology, and other groups. Able to communicate with model developers, model governance team members, and market and counterparty risk oversight team to identify key risks to be capture by a market or counterparty risk model for use and performance to be adequate

Job Expectations

  • Ability to travel up to 10% of the time


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.

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Location St. Louis, MO, 63104, United States
Categories Quality Assurance/Safety

Location Maptop

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Job Code 5493921

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