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Market Risk Consultant 4

Job Description

Consumer Lending is an industry leader in supporting homeowners and consumers. We put customers at the center of all that we do. We make every decision - and design every product and service - with our customers in mind.

It starts with you. We must attract, develop, retain and motivate the most talented people - those who care and who work together as partners across business units and functions. We value and promote diversity and inclusion in every aspect of our business and at every level of our organization.

The Consumer Lending team includes Home Lending, Personal Lending, and Dealer Services, including the professional services teams that partner with these businesses and other key partners.

The Role

The Capital Markets Model Development team is seeking a skilled and experienced Market Risk Consultant 4 (MRC4). The MRC4 hired into this role will be responsible for performing highly complex activities related to complex financial products, business analysis and/or risk modeling.

Primary Responsibilities for the position will include, but not be limited to:

  • Manage a small team of market risk consultants and quantitative analytics consultants in handling all aspects of the model risk cycle within the development team as well as development testing of vendor and internal models.
  • Responsible for performance monitoring in all aspects:
    • Maintain monitoring program
    • Run quarterly monitoring processes
    • Improve efficiency of the monitoring processes
    • Review results from daily monitoring on a regular basis
    • Identify and analyze monitoring issues as they occur (live, not at quarter end).
    • Serve as the first line of defense in investigating issues.
  • Manage the development testing of PolyPaths as well as internal models, e.g. define test runs, evaluate results and make sure that all results get documented appropriately.
  • Maintain a deep knowledge of regulatory guidance and firm policies. Have the ability to interpret them and provide guidance to business partners and senior management. Design and implement solutions to meet new industry requirements.
  • Work with the development team to maintain best in class model technical documentation as well manage both CCAR and MCST requirements.
  • Maintain contacts with model validation, regulators and other oversight groups related to model development.
  • Management of model issues:
    • Provides project management expertise and leadership to ensure plans are in place and progress is being made in resolution of model issues
    • Resolve model issues together with the development team
  • Assist the model development manager in project management:
    • Provides project management expertise and leadership to ensure plans are in place and manage progress in development projects
    • Develop executive presentations
  • Assist senior management with setting and implementing the strategic vision for mortgage analytics development and deployment.
Required Qualifications

  • 8+ years of experience in one or a combination of the following: trading, desk analyst, or capital markets

Desired Qualifications

  • Advanced Microsoft Office skills
  • Strong analytical skills with high attention to detail and accuracy
  • Excellent verbal, written, and interpersonal communication skills

Other Desired Qualifications
  • 2+ years of leadership experience in, either directly or functionally, managing a model risk or development testing function.
  • Excellent verbal, written, and interpersonal communication skills
  • Master’s degree in Finance, Business Administration or Science
  • Advanced Microsoft Office Skills
  • Strong analytical skills with high attention to detail and accuracy
  • Strong project management skills
  • Experience developing partnerships and collaborating with other business and functional areas
  • Knowledge and understanding of model review and validation
  • Knowledge and understanding of interest rate derivatives models and mortgage analytics
  • Knowledge and understanding of technical documents and procedures developments
Job Expectations

  • This position requires compliance with all mortgage regulatory requirements and Wells Fargo's compliance policies related to these requirements including acceptable background check investigation results. Successful candidates must also meet ongoing regulatory requirements including additional screening and required reporting of certain incidents.


    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.