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

Required Qualifications for Europe, Middle East & Africa only:

• Experience in Quantitative Analytics, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

About Wells Fargo India

Wells Fargo India enables global talent capabilities for Wells Fargo Bank NA., by supporting business lines and staff functions across Technology, Operations, Risk, Audit, Process Excellence, Automation and Product, Analytics and Modeling. We are operating in Hyderabad, and Bengaluru locations.

Corporate Risk:

As the company's second line of defense, Corporate Risk provides independent oversight of risk-taking activities. Independent Risk Management establishes and maintains Wells Fargo's risk management program and provides oversight, including challenges to and independent assessment of the frontline's execution of its risk management responsibilities. We manage risk according to the Risk Management Framework and ensure all employees understand their individual accountability for managing risk.

Model Risk Management:

Wells Fargo's Model Risk Management (MRM) is responsible for independently overseeing the management of model risk exposures across the enterprise (including governing, monitoring, and reporting on aggregate model risk exposures, model validations, and model oversight across enterprise). This oversight extends to all phases of a model's life cycle, including identification, development, validation, implementation, finding resolution, usage, performance monitoring, documentation, and retirement. In banks, financial/ regulatory models are an important tool which enable business ideas and risks to be estimated in a cost-effective way. The Model Validation team is responsible for the managing the model risk.

Treasury Asset Liability and Liquidity (TALL) Model Validation:

The Treasury Asset Liability and Liquidity (TALL) Model Validation group is part of the wider Capital, Liquidity, Allowance, and Planning (CLAP) model validation group and is responsible for validating and approving qualitative and quantitative models used across Wells Fargo in the areas of Treasury, Asset liability, Liquidity, and Business planning. The team's responsibilities include performing model validations (E.g., Initial validation, Revalidation, and Target scope validation etc.), writing validation reports, approving model usage, annual reviews, performance monitoring, and risk rank approval. The team works closely with model users, developers, and model governance teams to manage model risk to the firm and facilitate the model approval process.

The Role:

MRM operates in a fast-paced work environment with continuously changing policies and technologies. The successful candidate as a Senior Quantitative Analytics Specialist is expected to be self- motivated, require minimal supervision, and produce model validation work that is consistent with MRM's recognized high standards. Effective model validation work will involve familiarity with source systems of record, analytical data and sampling plans, model replications, model performance assessments, and test model development as effective challenges, benchmarking, stress testing, sensitivity analysis of Liquidity and Capital models, Loans, Deposit models, Stress testing models (ILST, LCR), Short term cash forecasting model, recovery and resolution planning models across geographies (US, EMEA, APAC etc.), other forecasting models. It further requires strength in writing detailed standard analytical reports to ensure Wells Fargo's compliance with governance policies and regulations. Each validation report will include assessments of the specific business, model purpose and history, the model methodology, data integrity, model development, performance, implementation, and monitoring. These documents are read by a broad audience, including auditors and regulators.

In this role, you will:

• Execute the Validation processes based on model risk supervisory guidance, Model Risk Management Policy and procedures, and current industry best-practices in one or more of the above-named areas. In particular:
  • Ensure credible challenge of models through validation process
  • Evaluate all relevant components of models and assess model soundness across lifecycle
  • Identify areas of weakness and work with model owners, risk partners, and other key stakeholders to ensure risk commensurate remediation
  • Demonstrate strong knowledge of subject matter area of focus, as well as sound validation and analysis techniques
  • Deliver high quality and timely validation reports combining intellectual rigor, analytical depth, and key model risk perspective
  • Support timely resolution of model weaknesses
• Develop benchmarking and alternative models in Python/R/Matlab/SAS
• Conducting model replication and review of model documentation
• Managing and mitigating model risk to meet or exceed regulatory and industry standards.
• Providing leadership and consultation to less experienced validators and business partners
• Communicating model risk findings and limitations to key stakeholders
• Contributing to the improvement of model building and model use practices
• Providing analytical support and offering insights regarding a wide array of business initiatives
• Interacting with senior management and regulators on key modeling issues, including the identification, management, and mitigation of model risk
• Proactively following the industry trend to apply and develop new technology as part of R&D to improve efficiency.
• Ensure all models within scope are independently validated per expected standards and schedule

Required Qualification and Skills:

• 4 to 7 years of experience (Masters), 2 to 3 years of experience (Phd) in model validation or model development with Masters / Phd in a quantitative field such as applied math, statistics, engineering, physics, accounting, finance, economics, econometrics, computer sciences, or business/social and behavioral sciences with a quantitative emphasis.

• Able to demonstrate first-hand knowledge of advanced topics in various mathematical and numerical methods such as linear algebra, applied probability, and statistics (Logistic regression, Time Series and Machine learning techniques);

• Familiarity in one or more of the following areas: Liquidity and Capital models, Stress testing models (ILST, LCR), Recovery and resolution planning models, Asset-liability risk management, Deposit models, Predictive modelling with Logistic regression, Time Series and Machine learning techniques.

• Strong mathematical, statistical, analytical, and computational skills along with programming experience in SQL, Python, SAS, R, and comfortable working with large datasets

• Strong communication skills for a variety of audiences (other technical staff, senior management, and regulators) both verbally and in writing
• Capability to multi-task and finish work within strict timelines and provide timely requests for information and follow-up questions

• Ability to work independently on complex model validations from start to finish
• Attention to detail in both analytics and documentation

Desired Skills

• Eagerness to contribute collaboratively on projects and discussions and support the development of high performing teams
• Capability to multi-task and finish work within strict timelines and provide timely requests for information and follow-up questions
• Aptitude for synthesizing data to 'form a story' and align information to contrast/compared to industry perspective.
• Intellectually curious, enjoys solving problems.

Posting End Date:
29 Jan 2025
*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.

Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.

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.