Model Risk Management: The Model Risk Management team is responsible for end-to-end oversight and risk management of models used across the enterprise. This includes the assessment and mitigation of risk created by models throughout the model lifecycle including development, validation, usage and ongoing monitoring.
The Model Methodology and Research team plays a critical role in developing methodologies and tools that enhance the robustness and reliability of models leveraged by the company. This team collaborates closely with the Model Risk Officers to integrate these advanced methodologies into the overall risk management strategy, ensuring consistency and alignment with enterprise-wide objectives. This synergy enhances the effectiveness of model validations and contributes to the continuous improvement of modeling standards and practices across the company.
Want more jobs like this?
Get jobs in Minneapolis, MN delivered to your inbox every week.
About this role:
Wells Fargo is seeking a talented head of our model methodology and research group to lead the group that is responsible for pioneering the development of cutting-edge models, algorithms, visualization tools, and computing environment to advance modeling practices across the company. This individual will set the vision, strategy and execution plans for the development of state-of-the-art methods in statistical modeling, numerical methods, machine learning, Artificial Intelligence (AI) including GenAI/LLM practices, and optimization as well as implementing them in fast and efficient algorithms. This role reports to the Head of Enterprise Model Risk Management of Wells Fargo.
In this role, you will:
- Set the vision and strategy to conduct applied research to drive the development of methodology and algorithms.
- Identify state-of-the-art techniques in modeling (statistics and ML) as well as optimization for application in risk management.
- Design, implement and automate model replication, benchmarking and testing with model risk's advanced computing platform to improve effectiveness and efficiency. Develop model library and platform to support model validation process.
- Present and publish best practices and research across the quantitative modeling community within the bank.
- Collaborate with internal and external quantitative communities to keep abreast of latest developments and practices in quantitative risk.
- Evaluate, recommend, and implement strategies for developing and modeling resources to predict, improve, measure the success of fundamentals and new initiatives.
- Recommend and implement strategies for developing and utilizing model resources to predict, improve fundamentals and new initiatives.
- Manage teams of highly skilled quantitative analysts in mathematical or scientific disciplines and managers of such groups
- Exercise usual authority of an experienced manager.
- Develop and guide a culture of talent development to meet business objectives and strategy.
- 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
- In-depth knowledge of ML methodologies such as ensemble algorithms, neural networks, supervised and unsupervised learning.
- Strong computing and programming background and knowledge of one or more languages such as Python and Java.
- Experience with ML/AI computing platforms and tools such as TensorFlow and Keras.
- Experience with GPU programming, multi-core, or distributed programming.
- Strong conceptual and quantitative problem-solving skills and demonstrated ability to contribute independently; and
- Ability to work in cross-organizational projects and collaboratively with other groups.
- Meet the company's return to office strategy of at least 3 days a week in the office.
- 401 S Tryon St Charlotte, NC
- 600 S 4th St, Minneapolis, MN
- 1753 Pinnacle Dr, MCLEAN, VA
- 250 E John Carpenter Frwy, IRVING, TX
Reflected is the base pay range offered for this position. Pay may vary depending on factors including but not limited to achievements, skills, experience, or work location. The range listed is just one component of the compensation package offered to candidates.
$207,900.00 - $431,900.00
Benefits
Wells Fargo provides eligible employees with a comprehensive set of benefits, many of which are listed below. Visit Benefits - Wells Fargo Jobs for an overview of the following benefit plans and programs offered to employees.
- Health benefits
- 401(k) Plan
- Paid time off
- Disability benefits
- Life insurance, critical illness insurance, and accident insurance
- Parental leave
- Critical caregiving leave
- Discounts and savings
- Commuter benefits
- Tuition reimbursement
- Scholarships for dependent children
- Adoption reimbursement
15 Oct 2024
* Job posting may come down early due to volume of applicants.
We Value Diversity
At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo .
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.
Wells Fargo Recruitment and Hiring Requirements:
a. Third-Party recordings are prohibited unless authorized by Wells Fargo.
b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.