Job Description

About Wells Fargo Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $2.0 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,500 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 273,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune\'s 2017 rankings of America\'s largest corporations. Wells Fargo\'s vision is to satisfy our customers\' financial needs and help them succeed financially. News, insights and perspectives from Wells Fargo are also available at . About 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. Corporate Model Risk: Wells Fargo\'s Corporate Model Risk 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 animportanttool 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. Qualitative Model Validation: The Qualitative Model Validation group is responsible for validating and approving qualitative models used across Wells Fargo . The team\'s responsibilities include performing model validations, writing validation reports, and approving model usage, annual reviews, and performance monitoring. The team works closely with model users, developers, model governance, and Corporate Functional Model Oversight (CFMO) teams to manage model risk to the firm and facilitate the model approval process. The Role: The Qualitative Model Validatoris responsible for completion of high-quality model validations to support business activities in the following areas: Capital, Credit (Both Retail and Wholesale including counterparty), Liquidity, Market, Operational, Pre-Provision Net Revenue (PPNR), Finance, Asset-Liability Management, Balance Sheet, including Stress Testing (DFAST/CCAR) and Recovery and Resolution Planning (RRP) as applicable. Specifically this individual will have responsibility to: 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 Follow reporting and escalation protocols of review results and follow up on identified risks/observations Continually work to improve efficiency, consistency, and quality of independent model validation Ensure all models within scope are independently validated per expected standards and schedule Build and maintain effective working relationships with key partners and stakeholders across Wells Fargo Understand model risk supervisory guidance, Model Risk Management Policy, and current industry best-practices Required Qualifications and Experience: Degree in statistics, math, engineering, physics, accounting, finance, economics, econometrics, computer sciences, or business/social and behavioral sciences with a quantitative emphasis preferred 2+ years of experience model validation /model implementation/ model development in financial risk across any area Strong analytical skills with high attention to detail and accuracy Experience in producing work of highest quality within tight timelines, as well as creating, maintaining, and supporting processes subject to intense regulatory scrutiny. Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment Technical or academic writing skills and experience Excellent communication skills and experience in building and maintaining partnerships, collaborating across lines of business as well as with corporate partners Proficiency managing databases, spreadsheets, or programming (understanding code and coding including one or more of SAS, Python, R, VBA, C, Java, or C++) Desired Qualifications: License certifications in finance and risk such as CFA, FRM, preferred Understanding of model risk supervisory guidance and model validation requirements for large and complex institutions, across geographies Knowledge of Wells Fargo systems and process, and industry standard practices for CCAR/DFAST, RRP, etc. 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, age, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran. 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.

foundit