Market Risk Sr Associate

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 are looking for talented people who will put our customers at the center of everything we do. We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired.

Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

As the company’s second line of defense, Corporate Risk — or Independent Risk Management — 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.

The Enterprise Credit Risk Management Group (ECRM) is a unit housed within the Corporate Risk and is responsible for defining and managing the counterparty risk framework for Wells Fargo trading products. Within ECRM, the Risk Architecture – Analytics group focusses on enhancing the bank’s ability to accurately quantify counterparty exposures by ensuring accurate trading data processing and model integration into the Counterparty risk monitoring and reporting platform.

A key focus for the position will be developing and refining counterparty credit risk systems and management tools. This will require subject matter expertise regarding trading products and counterparty risk management, including potential future exposure, aggregation methodologies, risk processes and systems. This individual will be involved in clearly defining and documenting business requirements, processes and methodologies that are needed to develop and support Counterparty Risk Management systems. The ability to develop a close working relationship with Counterparty Risk Analytics, Risk Technology and other risk management groups will be essential in this role.

Responsibilities for this role will include, but not be limited to, the following:

Working with team members and the quantitative model group to understand new initiatives and products and the counterparty risks being incurred by these activities.

Assist with implementing counterparty risk methodologies for Wells Fargo trading products.

Business requirements gathering to support methodologies and risk architecture.

Data analysis and testing (UAT) of CCRM implementations and enhancements.

Working with Counterparty Technology group on technical issues and providing input on strategic projects.

Performing data analysis for various risk projects, and defining data validation rules and default rules.

Working closely with senior leaders in developing and providing expertise regarding trading products and counterparty risk management, including potential future exposure, aggregation methodologies and risk processes and systems.

Other responsibilities will vary depending on the needs of the Line of Business (LOB), but may include contributing to counterparty credit policies, participating in product audits, providing ad hoc data and information to underwriters and marketers, and working on the credit risk management aspects of system developments and conversions. Daily responsibilities can fluctuate according to the desk’s business flow and therefore the ability to be flexible and adjust according to the needs will be essential.

Required Qualifications

5+ years of experience in one or a combination of the following: market risk, capital markets, trading, or interest rate risk

Desired Qualifications

Advanced Microsoft Office (Word, Excel, and Outlook) skills

Strong analytical skills with high attention to detail and accuracy

Excellent verbal, written, and interpersonal communication skills

Ability to negotiate, influence, and collaborate to build successful relationships

Experience delivering results in a fast-paced, deadline driven environment

SQL experience

Other Desired Qualifications

Exposure to counterparty credit risk metrics (PFE, EPE, CVA, BASEL)

Experience with a variety of asset classes and types of trading products including some, or all, of the following: Derivatives (Interest Rate, Equity, FX, Credit, and Commodity), Security Trading or Security Finance

Strong SQL and Data Analysis skills.

Experience producing Business requirements (BRD), including research and analysis

Familiarity with Credit and/or Market risk methodologies (valuation, Monte Carlo, Greeks, VaR) and risk systems

Experience with UAT testing including planning, execution and documenting of results

CFA and/or PRM and/or FRM certification is preferred

Undergraduate degree in finance, economics, business, mathematics, or a quantitative, technical or related field.

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