Market Risk Officer

Wells Fargo Minneapolis , MN 55415

Posted 2 months ago

Job Description:

Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message. In order to receive text message invitations, your profile must include a mobile phone number designated as "Personal Cell" or "Cellular" in the contact information of your application.

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. The team focuses on several key risk types, including conduct, credit, financial crimes, information security, interest rate, liquidity, market, model, operational, regulatory compliance, reputation, strategic, and technology risk. The group provides leadership, enhances communications, assists with problem identification and solutions, and shares best practices. In addition, the group provides an enterprise-wide view of risk, assists management and our Board of Directors in identifying and monitoring risks that may affect multiple lines of business, and takes appropriate action when business activities exceed the risk tolerance of the company.

ALM Risk is a unit of the Enterprise Finance Risk team, responsible for governance and oversight of the Company's Interest Rate Risk from an independent risk management perspective. The group covers the net risk at the enterprise level resulting from market fluctuations in interest rates, credit spreads, or FX that may cause a loss of the company's earnings or capital stemming from mismatches in WFC's asset/liability cash flows or changes in the market value of the company's investment securities. The group also provides governance and oversight for Wells Fargo's investment portfolio, reinsurance and COLI & BOLI activities.

ALM Risk has a Market Risk Officer role available. In this position, the successful candidate will drive cross functional work in relation to the $350Bn Macro Investment Portfolio (MIP) and will be responsible for to the day to day execution of the challenge function across all portfolios in IP Risk.

Additional responsibilities will include, but not be limited to, the following:

  • Participates in cross functional communications with Market and Counterparty Risk Management (MCRM),Treasury and Corporate Finance Oversight (TCFO), ALM Risk Analytics & Infrastructure, and Front Line teams to drive insight

  • Delivers meaningful information to leadership around macroeconomic, industry and WFC businesses trends

  • Drives and builds presentations to tell a story

  • Provides challenge to and independent assessment of the front line with respect to Business Group and Enterprise Function decisions and strategic initiatives to balance risk and reward and align with the Company's approach to risk, and if it is not satisfied, it may request additional analysis or a modification of the proposed front line action

  • Establishes a risk type-specific statement of risk appetite and associated measures aligned with the risk measurement program

  • Provides challenge and independent assessment with respect to risk identification and assessment approaches and outputs

  • Performs and documents independent risk assessments consistent with laws and regulations and escalates as appropriate where differences exist between independent risk assessments and the front line self-assessments

  • Provides relevant and comprehensive risk information to senior management and the Board, as appropriate

  • Establishes and maintains risk monitoring and risk reporting strategies

  • Provides challenge and independent assessment and monitors front line monitoring and other self-assurance activities

Required Qualifications

  • 7+ years of experience in one or a combination of the following: market risk, capital markets, trading, or interest rate risk

Desired Qualifications

  • Advanced Microsoft Office skills

  • Excellent verbal, written, and interpersonal communication skills

  • Strong analytical skills with high attention to detail and accuracy

Other Desired Qualifications

  • Experience in Agency MBS research, forecasting, market risk, or analysis

  • Experience forecasting or analyzing conforming mortgages and Agency MBS

  • Good working knowledge of sophisticated modeling frameworks, including modeling for products that exhibit behavior risk such as mortgage prepayment

  • Experience with third party vendor prepayment models such as Andrew Davidson Co (ADCO), Loan Performance, etc.

  • Significant experience with the CCAR stress testing process at a large financial institution

  • Experience forecasting Other Comprehensive Income (OCI) and Net Interest Income (NII)

  • Proven ability to foster constructive relationships with regulatory agencies and business leaders

  • Ability to develop elegant and common-sense solutions to complex business challenges (decisive, business-oriented and quick)

  • Exceptional capability in collaborating with a breadth of stakeholders and constituents including line of business and functional leaders across a complex, matrixed environment

  • Ability to be proactive in terms of identifying and addressing risk and management issues that are arising

  • Strong ability to execute in an ever-evolving environment and successfully address multiple, high-priority matters

Job Expectations

  • Ability to travel up to 5% of the time

Street Address

MN-Minneapolis: 600 S 4th St

  • Minneapolis, MN

NC-Charlotte: 550 S Tryon 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.

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Market Risk Officer

Wells Fargo