Job Description:
Wells Fargo is seeking a Quantitative Analytics Director . The role is within the Model Risk Management (MRM) group and will operate in a dual role: 1. Team Oversight: To oversee teams of validators responsible for model risk management of Capital, Liquidity, Allowance & Planning (CLAP) models. 2. Model Risk Officer (MRO): To serve as the Model Risk Officer for Business Planning models in the bank. Model Risk Management: MRM is responsible for validating and monitoring models, independently overseeing the management of model risk exposures across the enterprise, including governing, monitoring, and reporting on aggregate model risk exposures. This oversight extends to all phases of a model’s life cycle, including model identification, development, validation, implementation, resolution of model risk findings, model usage, performance monitoring, documentation, and retirement. The model inventory of the bank is partitioned into groups each headed by a Group Model Risk Officer (GMRO), who is assisted by a team of Model Risk Officers each managing a subgroup of models with the help of model validation teams located in the US and in India. Capital, Liquidity, Allowance & Planning: Within MRM, the CLAP group is headed by the CLAP GMRO assisted by MROs for model subgroups including models from Retail Credit, Commercial Credit, Mortgages, Wealth & Investment Management, Treasury, Finance and Business Planning. In the CLAP Oversight capacity, the candidate will head the India CLAP team, working with multiple downstream managers on MRM agenda, GMRO priorities, strategic initiatives and personnel matters. Business Planning team: This team within CLAP oversees model risk in business planning models across all lines of business to make decisions around staffing, capacity planning, revenue and expense forecasting, optimization of operations, inventory management, recovery resolution and planning. The responsibilities of this team include end-to-end model risk management over the entire model lifecycle adhering to guidance and goals set by the CLAP GMRO and MRM policies and procedures. As MRO, the candidate will have the functional responsibility of managing model risk across all business planning models, aided by a team of model validators covering this area. This highly visible position requires strong risk management and technical expertise, along with the ability to build strategic partnerships across the enterprise. Effective communication with technical staff, senior management, auditors, and regulators is crucial. The role operates in a fast-paced environment, necessitating multitasking and meeting strict deadlines to ensure policy adherence and effective model risk management.
