Job Description

• About Wells Fargo
  
  Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $2.0 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,500 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 273,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune's 2017 rankings of America's largest corporations. Wells Fargo's vision is to satisfy our customers' financial needs and help them succeed financially. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories .
  
  About Wells Fargo India
  
  Wells Fargo India enables global talent capabilities for Wells Fargo Bank NA., by supporting business lines and staff functions across Technology, Operations, Risk, Audit, Process Excellence, Automation and Product, Analytics and Modeling. We are operating in Hyderabad, Bengaluru and Chennai locations.
  
  Department Overview:
  
  Corporate Model Risk: As the company's second line of defense, Corporate Risk provides independent oversight of risk-taking activities. Independent Risk Management establishes and maintains Wells Fargo's risk management program and provides oversight, including challenges to and independent assessment of, the frontline's execution of its risk management responsibilities. We manage risk according to the Risk Management Framework and ensure all employees understand their individual accountability for managing risk.
  
  Qualitative Model Validation:
  
  The Qualitative Model Validation group is responsible for validating and approving all qualitative models used across Wells Fargo including Credit, Liquidity, Market, Operational, Pre-Provision Net Revenue (PPNR), Finance, Balance Sheet, and Financial Crimes to name a few. The team's responsibilities include performing model validations (independent reviews, writing validation reports, and approving model usage), annual reviews, performance monitoring, and issue management. The team works closely with model users, developers, model governance, and Corporate Functional Model Oversight (CFMO) teams to manage model risk to the firm and facilitate the model approval process.
  
  About the Role: The Business Analytics Consultant 4 (Qualitative Model Validator) responsible for the quality, and completion of model validation to support business activities in areas of Financial Planning, Pre-Provision Net Revenue (PPNR), Fund Transfer Pricing (FTP), market valuation and risk , including Stress Testing (CCAR/ MCST/ MYFA) and Resolution and Recovery Planning as applicable.
  
  Specifically this individual will have responsibility to:
• Execute the Validation processes for his/her area of specialty in accordance to applicable Policies, in particular:
  • Ensure credible challenge of models through validation process.
  • Evaluate all relevant components of models and assess model soundness across lifecycle as applicable
  • Identify areas of weakness and work with Model Owners, CFMO, and other key stakeholders to ensure risk commensurate remediation,
  • Ensure timely validation delivery
• Establish reporting and escalation protocols of review results and follow up on identified issues/observations.
• Continually work to improve consistency and quality of independent model validation
• Ensure all models within scope are independently validated per expected standards and schedule.
• Build and maintain effective working relationships with LOB Model Governance, Model Owners, Model Program team members, and CFMOs across Wells Fargo.
• Understand model risk supervisory guidance, Model Risk Management Policy, and current industry best-practices
• Review work of junior validators as well as mentor them.
• Provide subject matter expertise in the areas of market valuation and FTP.
• The Candidate:
• This person should have strong experience in his/her domain to facilitate credible challenge of the processes/models and to develop the skills of the validation team.
• Successful candidates will be articulate and capable of building collaborative working environments including leading process improvement projects.
• Required Qualifications:
• 8-10 years of professional work experience
• 5+ years of capital markets experience, market valuation, Fund Transfer Pricing, LIBOR/ SOFR transition, interest rate risk, desk analyst experience, counterparty risk, valuation of financial instruments, forecasting of OTTI, OCI or a combination of these.
• 5+ work experience in performing model validations (Quantitative/ Qualitative)
• Degree in statistics, math, engineering, physics, accounting, finance, economics, econometrics, computer sciences, or business/social and behavioral sciences with a quantitative emphasis preferred
• Experience in valuation of financial instruments including structured products
• Understanding of components of Counter Party risk measurement of financial instruments
• Strong understanding of financial markets and products; reporting of model use and performance
• Knowledge of CCAR/MCST assumptions and evaluate methodology to forecast risk drivers for different asset classes
• Knowledge/experience with Basel RWA methodologies.
• Proficiency managing databases, spreadsheets and programming (understanding code and coding)
• Desired Qualifications:
• Financial Risk Management (FRM) Certification
• Experience in Banking Financial Planning and analysis with particular focus on FTP and market valuation.
• Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
• Able to guide junior model validators
• Strong analytical skills with high attention to detail and accuracy
• Experience in producing work of highest quality within tight timelines, as well as creating, maintaining and supporting processes subject to intense regulatory scrutiny.
• Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
• Excellent communication skills and experience in building and maintaining partnerships, collaborating across lines of business as well as with corporate partners

We Value Diversity

At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.

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 unit's risk appetite and all risk and compliance program requirements.

Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.