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Quantitative Analytics Auditor 2

Job Description

At Wells Fargo, we want to satisfy our customers’ financial needs and help them succeed financially. 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.

Audit Services conducts audits and reports the results of our work to the Audit & Examinations Committee of the Board of Directors. We provide independent, objective assurance and consulting services delivered through a highly competent and diverse team. As a business partner, Audit helps the Company accomplish its objectives by bringing a systematic disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

Wells Fargo Audit Services (WFAS) has a challenging opportunity on the highly-visible Quantitative Model Risk Audit Team within the Corporate Risk Audit group. We are looking for an individual with quantitative education and experience to provide audit coverage of analytical models used in the company. This individual will be a subject matter expert leading the daily operations and support the audit coverage approach with the team.

This position provides a unique opportunity to gain a broad understanding of the risk management of models across the company, including areas such as market risk, credit risk, counterparty risk, and operational risk. The individual will play an instrumental role in the audit of the models used to meet the regulatory requirements of Basel, CCAR, and the Market Risk Rule. In particular, this individual will primarily conduct in-depth quantitative audit reviews of financial derivative trading and market risk management models.

This opportunity requires significant knowledge of financial products and associated cash flows across at least two lines of business and the impact that related modeling approaches may have at the level of the line of business and in aggregate for the company. Responsibilities include the following:

  • Executing technical reviews of moderately complex models, including validation effectiveness, model conceptual soundness, model development quality, and model risk management processes
  • Planning and executing targeted quantitative testing of horizontal review topics.
  • Understanding model risk supervisory guidance, model risk policy and current industry practices in an area of expertise
  • Building and maintaining relationships with model validators, model developers, and risk managers
  • Providing expert technical guidance and support on model questions to Wells Fargo Audit Services staff and business partners
  • Providing leadership and credibility in the challenge of modeling practices in the company, including performing replication analyses with data mining and coding
  • Championing opportunities and recommendations for process improvement

Occasional travel expected (up to 10%).



Required Qualifications

  • 6+ years of experience in an advanced scientific or mathematical field
  • A master's degree or higher in a quantitative field such as mathematics, statistics, engineering, physics, economics, or computer science





Other Desired Qualifications
  • 6+ year’s analytical experience in an advanced scientific or mathematical field.
  • 3+ years of experience in a banking business or risk management area.
  • Demonstrated persuasion, negotiation and influencing skills.
  • Strong technical, non-technical, and executive verbal and written communication skills.
  • A Ph.D. degree in a quantitative or scientific discipline such as mathematics, physics, statistics, engineering, finance, or economics.
  • Hands-on knowledge and experience with one or more technical tools such as C/C++/C#, Matlab, R, SPlus, Guass, or SAS.
  • 6+ years of experience in model development, model validation, or model risk auditing in the financial services industry.
  • Experience building or validating financial derivative pricing/hedging models and market risk management models.
  • Working knowledge of SR 11-7 and OCC 2011-12 supervisory guidance.




Disclaimer


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.


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