Job Description:
Wells Fargo is seeking a Model Risk Officer for oversight of models in the Marketing areas. Model Risk Management (MRM): Model Risk Management 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. Marketing team: this team oversees model risk in marketing models. Marketing models are designed to support marketing campaigns and decision-making. They include various types, such as response models and approval models, and can be categorized by business portfolio (e.g., home lending, consumer credit cards, personal loans, deposit products), by channel (e.g., Invitation to Apply vs. firm offer), and by target population (e.g., prospects vs. existing customers). The responsibilities of this team include end-to-end model risk management over the model lifecycle including risk tiering, validation, and performance monitoring, etc. The role will receive model risk management guidance and goals from the Group Model Risk Officer (GMRO). 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.
