Market Risk Consultant 3- Counterparty Credit Risk in New York, New York | DiversityInc Careers
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Market Risk Consultant 3- Counterparty Credit Risk

Job Description

At Wells Fargo, we have one goal: to satisfy our customers’ financial needs and help them achieve their dreams. We’re looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you’ll feel valued and inspired to contribute your unique skills and experience.

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

Corporate Risk helps all Wells Fargo businesses identify and manage risk. We focus on three key risk areas: credit risk, operational risk and market risk. We help our management and Board of Directors identify and monitor risks that may affect multiple lines of business, and take appropriate action when business activities exceed the risk tolerance of the company.

The Market and Counterparty Risk Management Group (MCRM) within the Corporate Credit & Market Risk organization provides company-wide leadership, support, and oversight to ensure effective understanding and management of market and counterparty risk across the company.

Enterprise Counterparty Risk Management (ECRM) provides counterparty credit and related capital markets transaction oversight. This team of risk management professionals works with key business groups that originate and manage counterparty risk. The originating counterparty credit risk business units include Wholesale Corporate Banking, Wells Fargo Securities, Wealth and Investment Management and Consumer Lending Group (Home Mortgage). Capital markets transactional business groups include macro products (FX and derivative), equities, and securities trading, amongst other groups.

ECRM Equity Desk Risk Officer (DRO) Group is responsible for independently overseeing the management of counterparty risk (inclusive of price risk) exposures (including monitoring and reporting on aggregate market and counterparty risk exposures across groups, legal entities, geographies, and jurisdictions), and the quality of market risk management practices specifically for the Equity Derivatives and Investment Solutions Desk.

Role of Market Risk Consultant 3

The primary responsibilities of this position will be to provide risk oversight for the Market Division’s Equity desk. This position will assist the Equity DRO in risk oversight responsibilities by ensuring that LOB policies and procedures remain in compliance with corporate level policies and procedures, monitoring and reviewing all transactions ensuring exceptions are appropriately approved or escalated, and ensuring consistent underwriting standards across the various Line of Businesses. A successful candidate will be highly motivated and have the ability to work independently with limited supervision in handling day-to-day issues while being an active team member.

Responsibilities of this position include, but are not limited to:

  • Independent identification, monitoring and reporting of counterparty credit risk factors and trends
  • Ensuring consistent credit risk underwriting standards across the organization and products
  • Establishment and monitoring of corporate level risk appetite metrics
  • Ensuring line of business compliance with corporate and child level credit policies
  • Reviewing, approving and reporting all transactions which are exceptions to policy
  • Special projects to address Internal/External Audit or Regulatory Issues and/ or Senior Management inquires


Required Qualifications

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

Desired Qualifications

  • Intermediate Microsoft Office skills
  • Strong analytical skills with high attention to detail and accuracy
  • Excellent verbal, written, and interpersonal communication skills
  • Ability to work independently
  • Ability to consult, build, and maintain solid working relationships in and outside of immediate department
  • Excellent verbal, written, and interpersonal communication skills
  • Strong analytical skills with high attention to detail and accuracy
  • Intermediate Microsoft Office skills

Other Desired Qualifications
  • Firm understanding of credit, counterparty and market risk concepts (i.e. – VaR, stress, Greeks, sensitivity measures and Monte Carlo simulation) specifically in the OTC Derivatives space.
  • Working knowledge of SQL, VBA or other scripting language
  • Industry certification(s): FRM, PRM and/or CFA
  • Basic knowledge of OTC derivatives, preferably in equities, and the associated documentation (ex. ISDA)


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.