Quantitative Analytics Consultant 3 - Market Risk Model Validator in Charlotte, North Carolina | DiversityInc Careers
 
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Quantitative Analytics Consultant 3 - Market Risk Model Validator

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.

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 Corporate Market & Institutional Risk (CMIR) group is responsible for independently overseeing the management of market and 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 across the company.

The Corporate Model Risk (CMoR) group is responsible for independently overseeing the management of model risk exposures and the quality of model risk management practices across the company. Market risk models are used to measure the potential loss from adverse changes in market risk factors such as interest rates, credit spreads, foreign exchange rates, equity and commodity prices, as well as market volatility and liquidity dynamics. Market risk model includes, but is not limited to, Market Risk time Series, Value at Risk, Specific Risk, Incremental Default Risk, Initial and Variation Margin, as well as derivative pricing models, which are used as tools for Market risk models.

Quantitative Analytics Consultant 3 - Market Risk Model Validator responsibilities include, but are not limited to:

  • Performing model validations and clearly documenting evidence of validation activities
  • Providing effective challenge to models developed in the lines of business
  • Identifying conceptual weaknesses in a model and understanding tradeoffs with other approaches
  • Communicating model issues and limitations to key stakeholders
  • Providing leadership and consultation to less experienced validators
  • Interacting with senior management and regulators on key modeling issues, including the identification, management, and mitigation of model risk


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
  • PhD in a quantitative discipline such as mathematics, statistics, engineering, physics, economics, or computer sciences
  • Knowledge of financial industry practices and regulatory standards applied model development, model validation, and capital
  • Knowledge and understanding of derivatives valuation methodologies for various product types: IR, Equity, FX, Credit, and Commodities
  • Knowledge and understanding of market risk measures and calculations (Delta, Vega, and Gamma)
  • Hands-on experience in building or validating stochastic or statistical models in financial corporate environment, specifically the models for Value-at-Risk, Incremental Default Risk Charge, CVA, and CCAR/Stress test
  • Knowledge and understanding of regulatory compliance requirements surrounding Dodd Frank, Basel II and III
  • C++, Python, and SQL experience
  • Strong mathematical, statistical, analytical, and computational skills
  • Ability to communicate to different audiences (other technical staff, senior management and regulators) both verbally and in writing
  • Capability to multi-task and finish work within strict timelines, and provide timely requests for information and follow-up questions
  • Ability to work independently on complex model validations from start to finish
  • Skill in managing relationships with key model stakeholders
  • Eagerness to contribute collaboratively on projects and discussions
  • Perpetual interest in learning something new, but being comfortable with not knowing the all the answers
  • Attention to detail in both analytics and documentation
  • Aptitude for synthesizing data to 'form a story' and align information to contrast/compare to industry perspective
  • Intellectual curiousity, enjoyment of solving problems




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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