Market Risk Cons 2 - Counterparty

  • Wells Fargo
  • $81,513.33 - 181,590.00 / Year *
  • 4223 David Cox Rd, Charlotte, NC 28269
  • Full-Time



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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.

Market Risk Consultant 2 - Counterparty Risk


The Corporate Credit & Market Risk group is responsible for independently overseeing the management of credit risk exposures (including monitoring and reporting on aggregate credit exposures across groups, legal entities, geographies, and jurisdictions) and the quality of credit risk management practices across the company. This oversight extends to all phases of a loan s life cycle, including origination, underwriting, risk analysis, approval, documentation, boarding, monitoring, loss recognition, modification, and collection activities. Corporate Credit & Market Risk is responsible for delegating and/or removing credit and investment approval authorities to the lines of business.


More specifically, Corporate Credit & Market Risk develops, maintains and ensures adherence to enterprise-wide credit risk frameworks, policies, and procedures that are aligned with Board-approved risk appetite.


The Enterprise Counterparty Risk Management (ECRM) organization within Corporate Credit & Market Risk is responsible for ensuring an appropriate Risk Management framework exists for products offered by the primary trading and lending desks, with particular emphasis on Counterparty Credit Risk. A Risk Management framework includes the identification, measurement, approval, pricing, aggregation and reporting of counterparty credit risk.


The CVA/IDL team within the ECRM organization is responsible for implementing a governance framework and control structure commensurate with the heightened regulatory expectations, reviewing CCR incurring activities to determine appropriate CVA measures, and providing effective challenge to the CVA Trading Desk. An additional area of focus is on oversight of trading and counterparty IDL. While it has historically only been part of the stress test exercises, the focus is being extended to include BAU. The CVA/IDL team leads monthly CVA portfolio review meetings and partners with the CVA FO to respond to regulator concerns and requests on an ongoing basis. The team also works closely with the ECRM Stress Testing team throughout the year and in the execution of the bi-annual CCAR exams.


The CVA/IDL team is seeking an individual that will utilize their attention to detail and effective communication skills to partner effectively across various lines of business including Quants, FO, Technology, Risk partners and other stakeholders to ensure a robust risk oversight program.


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

  • Gain expertise within the ECRM CVA/IDL team whose primary focus will be to provide effective oversight of the CVA desk and the IDL process, with a focus on models
  • Provide an analytical viewpoint to credibly challenge decisions related to CVA and IDL risk management
  • Work closely with traders, credit and market risk managers, and quantitative teams to analyze, review, measure, test and challenge results
  • Understand the variables and market factors that impact the firm s counterparty credit risk processes and identify changes or errors in model valuation inputs
  • Understand relevant business, regulatory and risk requirements pertaining to CVA/IDL as well as maintain an awareness of current regulatory trends and resulting impacts
  • Collaborate with ECRM Stress testing team to analyze effect of stresses on CVA/IDL portfolio
  • Develop into an SME on Risks not in Model/Stress and collaborate on stress loss model overlays
  • Work with technology and reporting functions to build out quantitative analysis
  • Learn the risk reporting process and monitor key metrics and trends; escalate issues
  • Review data, risk reporting and commentary for accuracy, clarity, and completeness
  • Review monthly reconciliations, documenting findings and tracking to resolution
  • Maintain updated documentation for Governance and Oversight (G&O) requirements
  • Contribute to firm-wide initiatives on XVA and regulatory requirements
  • Respond to ad-hoc requests for data and/or presentations from senior managers, regulators, auditors, and other sources


Required Qualifications

  • 2+ years of capital markets experience, desk analyst experience, or a combination of both



Desired Qualifications

  • Intermediate Microsoft Office skills
  • Strong analytical skills with high attention to detail and accuracy
  • Excellent verbal, written, and interpersonal communication skills
  • SQL experience
  • Knowledge and understanding of risk management in credit, market, or operations
  • Risk management experience
  • Knowledge and understanding of model review and validation
  • VB (Visual Basic) experience
  • Knowledge and understanding of Investment tools such as Bloomberg or Factset application
  • Ability to interact effectively and confidently with senior management
  • Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment



Other Desired Qualifications
  • Undergraduate degree in finance, mathematics, engineering or related field, with an Advanced degree in related field highly preferred
  • CFA/FRM certification
  • Knowledge and understanding of counterparty and/or market risk measures and calculations
  • Knowledge of capital markets with a variety of asset classes and traded products, including sensitivities of counterparty risk
  • Comfort using large data sets and queries and applying them to analytical analysis
  • Familiarity with various mathematical, statistical and risk packages
  • Familiarity with trading desk operations and systems
  • Ability to generate and format presentations within specific standards for senior management
  • Exposure to regulatory framework for traded products, including Dodd-Frank and Basel




Street Address

NC-Charlotte: 301 S College St - Charlotte, NC



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.



* The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.