Wells Fargo Senior Quantitative Analytics Specialist AVP 

United States, North Carolina, Charlotte 

482131716

Model Risk Management (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:

The main responsibility of the successful candidate will be toprovide 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

• Master's 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

Wells Fargo Recruitment and Hiring Requirements:

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