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Wells Fargo is seeking a Lead Market Risk Officer for its Enterprise Counterparty Risk Management (ECRM) Team. The Enterprise Counterparty Risk Management (ECRM) Team within Market and Counterparty Risk Management (MCRM) is responsible for providing independent identification, monitoring, and credible challenge of counterparty risks across the Wells Fargo Enterprise for all capital markets traded products. ECRM professionals work with the business groups that originate and manage counterparty risk including Corporate and Investment Bank, Commercial Bank, Wealth and Investment Management, Consumer Lending, and Treasury. Capital markets transactions include Derivatives (Rates, FX, Commodities, CDS, and Equities), Securities Trading, and Securities Financing.
Job Responsibility:
Support all counterparty risk oversight activities for Equities (Prime Brokerage, OTC Derivatives, Securities Financing and Trading, and Clearing) including credit limit oversight, new transactions and new products approvals.
Assist in day-to-day troubleshooting, including investigating counterparty credit risk systems, limit excesses, or model issues then propose potential improvements.
Develop, enhance and generate counterparty risk reports for traded product portfolios.
Execute RCSA controls and ensure that all procedures are comprehensive and updated.
Ensure that non-standard trade structures and documentation can be properly supported by risk systems and models.
Perform ad-hoc analysis (stress testing, scenario analysis) to support risk management decision making and/or management inquiries.
Work with various internal trading desks and credit and risk teams to remediate issues and implement enhancements.
Apply credible challenge constructively to identify areas of improvement in the standard approaches to risk management, demonstrating strong expertise in the areas of Equities.
Work closely with counterparty and market risk oversight, governance, underwriting and infrastructure teams to deliver strategic projects timely and accurately for counterparty risk management.
Other leadership responsibilities include providing oversight and undertaking model ownership responsibilities for counterparty credit exposure models, including but not limited to: Propose, review, and sign off on model enhancements based on emerging business needs and/or market environments
Serve as the primary ECRM Subject Matter Expert (SME) for counterparty exposure measurement and methodology inquiries and initiatives: pre-trade estimations, model calibrations, exposure reviews
Review and sign off quarterly model calibration results and impact.
Provide opinion for counterparty credit risk methodology and system readiness for new products
Build and manage relationships with multiple business partners across lines of business, risk management, internal product control, technology, and risk analytics groups.
Requirements:
5+ years of experience in one or a combination of the following: trading, desk analyst, Capital Markets, market risk, interest rate risk or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education.
Demonstrated experience in counterparty and market risk management of Derivatives, Futures/Options, Securities Financing, and Securities Trading, Prime Brokerage with focus on Equities.
Experience in risk management, risk modeling, and trading systems architecture.
Experience in quantitative risk methodologies including statistical testing.
Strong understanding of counterparty risk concepts (i.e. PFE, EL, credit capital) and/or market risk (i.e. valuation, Monte Carlo, Greeks, VaR) methodologies.
Experience with reviewing and approving credit terms included in governing documentation (ISDA, MRA, MSFTA, MSLA) of traded products is preferred.
Advanced Microsoft Office Skills (Excel VBA).
Proficiency in Microsoft SQL.
Strong analytical skills with high attention to detail.
Excellent verbal, written, and interpersonal communication skills.
Highly organized and able to prioritize multiple tasks, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment.
Ability to work independently, assess issues, make quick decisions, implement solutions, build relationships across teams, and influence change.
Familiarity with trading desk operations and systems (i.e. Calypso, Endur) is preferred.
Financial Risk Management Certificate (FRM), Chartered Financial Analyst (CFA), or Advanced Degree in Finance, Business Administration, or a quantitative field is preferred.
Willingness to work on-site at stated location on the job opening.
This position is not eligible for Visa sponsorship.
This position is subject to FINRA background screening requirements. Candidates must successfully complete and pass a background check prior to hire.
Successful candidates must also meet and comply with ongoing regulatory obligations, which include periodic screening and mandatory reporting of certain incidents.
Nice to have:
Experience with reviewing and approving credit terms included in governing documentation (ISDA, MRA, MSFTA, MSLA) of traded products is preferred.
Familiarity with trading desk operations and systems (i.e. Calypso, Endur) is preferred.
Financial Risk Management Certificate (FRM), Chartered Financial Analyst (CFA), or Advanced Degree in Finance, Business Administration, or a quantitative field is preferred.
What we offer:
Health benefits
401(k) Plan
Paid time off
Disability benefits
Life insurance, critical illness insurance, and accident insurance