Senior Market Risk Specialist - Corporate and Investment Banking Risk

About this role:

Wells Fargo is seeking a Senior Market Risk Specialist 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 transactional include Derivatives (Rates, FX, Commodities, CDS, and Equities), Securities Trading, and Securities Financing.

Primary responsibilities for the position include, but are not limited to, the following:

• Lead or participate in risk program development and maintenance.

• Leverage solid understanding of risk management practices and provide input and challenge with focus on risk disclosures, remediation, due diligence, suitability, and reputation risk.

• Implement enhancements to transactional approval frameworks for counterparty credit risk in close collaboration with Banking, Credit, and Legal.

• Review and approve ISDA/MSFTA/MRA credit terms.

• Execute RCSA controls and ensure that all procedures are comprehensive and updated.

• Review and explain counterparty risk metrics and models (PFE, VaR, Stress Testing)

• Support new business initiatives in close collaboration with Change Management.

• Develop, enhance and generate counterparty risk reports for traded product portfolios.

• Assist in day-to-day troubleshooting, including investigating counterparty credit risk system or model issues then provide potential improvement.

• 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.

• Assist in the preparation of counterparty credit risk presentations and internal credit documents (policies, procedures, memos)

• Foster strong relationships with business partners in Sales and Trading, Banking, Credit, Control, Legal, Operations, Technology, and Risk Analytics.

Required Qualifications:

• 4+ 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

Desired Qualifications:

• Experience working with a broad range of capital markets business partners including trading, quantitative partners, finance, operations, and technology, to complete shared business objectives.

• Experience in Traded products, pricing models and markets.

• Ability to work independently, meet deadlines and work under pressure in a dynamic and fast-paced working environment.

• Strong understanding of derivative pricing models and risk measurement calculations such as PFE, VaR, stress scenarios and risk factor sensitivities. 

• Advanced Microsoft Office Skills (Excel VBA).

• Proficiency in Microsoft SQL.

• Strong analytical skills with high attention to detail.

• Strong spoken and written communication skills.

• Financial Risk Management Certificate (FRM) or Chartered Financial Analyst (CFA) preferred.

Job Expectations:

• This position currently offers a hybrid work schedule

• 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, including successful completion and clearing of a background check. Internal transfers are subject to comply with 17 CFR 240.17f-2 of the Securities Exchange Act of 1934 and FINRA Bylaws, Article III, Section 3, which states that Associated Persons should not be subject to statutory disqualification. Successful candidates must also meet ongoing regulatory requirements including additional screening and are required to report certain incidents.

Posting End Date: 

9 Jan 2025

*Job posting may come down early due to volume of applicants.

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