Quantitative Analytics Senior Manager

About this role:

Wells Fargo is seeking a Quantitative Analytics Senior Manager to lead the Market Models validation team within Model Risk Management (MRM).

Model Risk Management (MRM):  Model Risk Management is the second line of defense and is responsible for validating models, independently overseeing the management of model risk exposures across the enterprise, including governing, monitoring, and reporting on aggregate model risk exposures, model validations, and model oversight. This oversight extends to all phases of a model’s life cycle, including model identification, development, validation, implementation, resolution of model risk findings, model usage, performance monitoring, documentation, and retirement.

Market Models validation team:  This team oversees model risk in capital markets, market risk and counterparty risk. Capital markets models span pricing models for derivatives across all asset classes including equity, FX, interest rate, mortgage, commodity, and credit. Market risk models are used to measure the risk of possible economic loss from adverse changes in market risk factors such as interest rates, credit spreads, foreign exchange rates, and equity and commodity prices, as well as mortgage rates and market liquidity dynamics. Market risk includes, but is not limited to, the risk of economic loss associated with price risk in the trading book, fair-value price risk of available-for-sale (AFS) securities and held-for-sale (HFS) assets, hedge-effectiveness risk associated with the mortgage book, and impairment on private equity investments. Counterparty risk models quantify exposure to counterparty default and valuation adjustments (XVA) for derivative instruments and portfolios.

This highly visibly position will provide interaction with various key model stakeholders and therefore requires someone with strong technical skills as well as the ability to cultivate and sustain strong strategic partnerships across the enterprise.  The ability to effectively communicate with different audiences (technical staff, senior management, internal auditors, 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 to ensure policy adherence and effective model risk management.

In this role, you will:

• Manage and develop teams responsible for the creation, implementation of complex financial and statistical models
• Analyze and manage risks to forecast losses or enable decision making for business, product, marketing, or other functional areas
• Support financial products, portfolios, business process and risk management
• Perform various compliance with corporate and regulatory reporting, involving finance and capitalization requirements
• Determine scope and prioritization of work
• Perform key input in the development of strategy, policies, procedures, and organizational controls
• Manage one or more teams of highly skilled quantitative analysts or managers
• Interface with internal and external audit or regulators
• Manage allocation of people and financial resources for Quantitative Analytics
• Develop and guide a culture of talent development to meet business objectives and strategy

Required Qualifications:

• 6+ years of Quantitative Analytical experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
• 3+ years of management experience
• Master's degree or higher in a quantitative discipline such as mathematics, statistics, engineering, physics, economics, or computer science
• Knowledge of regulatory requirements: SR 11-7, industry standards on model validation, model governance, extensive expertise and keen insight on the model risk management process and future directions, expertise in defining model performance metrics and risk reduction techniques.

Desired Qualifications

• Ph.D. in a quantitative field such as Mathematics, Statistics, Engineering, Physics, Mathematical Finance/Economics or Computer Science, or equivalent expertise evidenced by domain knowledge and industry experience.
• Previous model development or validation experiences for trading models across asset classes, with in-depth knowledge of pricing models in at least one or two asset classes.
• Knowledge of VaR models and counterparty credit risk models.
• Knowledge of a wide range of mathematical approaches and modeling techniques, with deep experience in numerical methods such as Monte Carlo simulation and finite difference methods.
• Excellent oral, written, and interpersonal communication skills, with an ability to communicate effectively to audiences of varying technical maturity.

Posting End Date: 

6 Mar 2025

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

Applicants with Disabilities

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

Drug and Alcohol Policy

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

Wells Fargo Recruitment and Hiring Requirements:

a. Third-Party recordings are prohibited unless authorized by Wells Fargo.

b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.