Model Risk Officer (Quantitative Analytics Director) – Model Risk Management, Trading and Markets Risk

Model Risk Management (MRM) is responsible for the enterprise-wide oversight and risk management of models across all phases of the model lifecycle. This includes identification, development, validation, implementation, usage, performance monitoring, documentation, and risk reporting of models. The team plays a critical role in defining governance processes, assessing and mitigating model risk by enforcing robust controls, resolving model risk findings, and ensuring models are used appropriately and effectively throughout the bank.

Trading and Market Risk Division of MRM is responsible for the model risk management of models used by Corporate Investment Banking (CIB) Marekts for front office trading and risk management activities and by Market and Counterparty Risk Management (MCRM) for market and counterparty risk exposure management. CIB Markets models cover all asset types: Asset back securities (CMBS and ABS), Commodity, Counterparty Valuation Adjustment (CVA)s, Credit, Equity, FX, Rates, RMBS, and electronic trading.  MCRM risk exposure models cover Basel (VaR and FRTB), Capital Planning (CCAR), counterparty exposures (margin, potential future exposures,), and risk management purposes.

About the Role:

Wells Fargo is seeking Model Risk Officer for the areas of Counterparty Credit Risk that covers both CIB CVA models and MCRM Counterparty Credit Risk exposure models.  As a Model Risk Officer (MRO), you will be managing a team of quantitative professionals responsible for ensuring that models used for these areas are conceptually sound, appropriately implemented, and used in a manner consistent with their intended purpose.

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.

Key Responsibilities:

• Model Risk Oversight:
  • Lead end-to-end model risk management across the lifecycle, including risk tiering, validation, performance monitoring, issue remediation, and compensating controls, in alignment with firm-wide policies.
  • Identify and mitigate model risk in accordance with internal standards and regulatory expectations.
• Model Validation:
  • Perform independent validations of models used for CVA and Counterparty Risk Exposure models across asset classes (e.g., fixed income, FX, commodities, equities).
  • Lead the team to enhance validation processes vis standardization, automation and GenAI tools to improve efficiency and effectiveness.
• Stakeholder Engagement:
  • Serve as the primary point of contact for assigned model portfolios, collaborating with model developers, risk managers, internal audit, and regulators.
  • Communicate validation processes, findings, effective challenges, and model risk profiles clearly to both technical and non-technical audiences.
• Team & Infrastructure Leadership:
  • Manage and mentor a team of quantitative analysts, overseeing project execution, resource planning, and quality assurance.
  • Lead the development of model libraries and infrastructure to support scalable, repeatable validation processes.

Required Qualifications:

• 8+ years of Quantitative Analytical experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education.
• 4+ years of management experience
• Master's degree or higher in a quantitative discipline such as mathematics, statistics, engineering, physics, accounting, finance, economics, or computer science

Desired Qualifications

• 10+ years of experience in financial institutions with a strong background in either front office model development or model validation.
• Expert knowledge and understanding of modeling approaches for counterparty credit risk management and derivatives products and pricing approaches across all asset classes
• A Ph.D. /M.S. in a quantitative field such as Mathematics, Statistics, Engineering, Physics, Mathematical Finance/Economics or Computer Science, with experience in numerical methods such as Monte Carlo, PDE, etc. 
• Knowledge in regulatory requirements: SR 11-7, CCAR, and Basel capital rules
• Excellent verbal, written, and interpersonal communication skills, with an ability to communicate to non-technical audience and present to senior leaders.
• Strong organizational skills, attention to detail, ability to work