Lead Enterprise Risk Officer- Financial Risk Model Validation

Wells Fargo is seeking a Lead Enterprise Risk Officer to join Model Risk Management team

• Wells Fargo's Corporate Model Risk is the second line of defense and is responsible for validating models, 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.
• The team is responsible for validating and approving various models used across Wells Fargo including Liquidity and Capital Risk, Deposits, Operational, Finance, Balance Sheet, and Business Planning to name a few. The team's responsibilities include performing model validations (independent reviews, writing validation reports, and approving model usage), annual reviews, performance monitoring, and model risk findings management. The team works closely with model users, developers, model governance, Corporate Functional Model Oversight (CFMO), and financial risk oversight teams to manage model risk to the firm and facilitate the model approval process.

In this role, you will:

• The officer will be responsible for the end-to-end model risk management of models in defined subject matter areas. This will include supporting model identification and risk ranking, thorough and rigorous model validation, robust model monitoring and change management. This role will cover models in the following areas, among others: Liquidity Risk, Capital Risk Planning, including Stress Testing (e.g. DFAST/CCAR), Recovery and Resolution Planning usages across legal entities
• Specifically, this individual will have responsibility to:
• Execute the Model Validation processes for his/her area of specialty in accordance with applicable Policies, in particular:
• Ensure credible challenge of models through validation process
• Evaluate all relevant components of models and assess model soundness across lifecycle as applicable
• Identify areas of weakness and work with Model Owners, second line and third line partners, and other key stakeholders to ensure risk commensurate remediation
• Ensure delivery of well written and timely validation reports outlining conceptual soundness of model, in-depth review of the data, rigorous testing, and effective challenge of the model
• Continually work to improve 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 LOB Model Governance, Model Owners, Model Program team members, across Wells Fargo.
• Understand model risk supervisory guidance, Model Risk Management Policy, and current industry best-practices
• Lead and train junior team members

Required Qualifications:

• 5+ years of Risk Management experience (Compliance, Financial Crimes, Operational Risk, Audit, Legal, Credit Risk, Market Risk, IT Systems Security, Business Process Management) or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Desired Qualifications:

8+ years of experience performing in depth analytics, modelling or risk management of one or a combination of the following areas:

• Liquidity Risk, Capital Planning, Recovery and Resolution Planning usages, Stress testing. Deep understanding and experience in liquidity and capital management metrics, asset monetization, forecasting
• Financial Planning and Assets and Liability Management. Understanding of banking balance sheet dynamics including drivers of change in book value, market value, portfolio mix, product pricing/spreads, multiple currency dynamics, interest rate driven optionality, etc. across stress scenarios and varying interest rate environments
• Deposits, with interest rate and liquidity dynamics
• Capital markets, investment portfolio, securities products

In addition to:

• Mature understanding of Model Risk Management framework and regulatory guidance including understanding of validation of models in treasury and finance for large G-SIB banks
• Deep familiarity with Wells Fargo's data and information systems, functional areas of liquidity, capital, deposits, and ALM, legal entities, and operating environment.
• CFA, FRM certifications highly desired
• Degree in statistics, math, engineering, physics, accounting, finance, economics, econometrics, computer sciences, or business/social and behavioral sciences with a quantitative emphasis Technical or academic writing skills and experience
• Strong analytical skills with high attention to detail and accuracy
• Proficiency managing databases, spreadsheets or programming (understanding code and coding)
• Experience in producing work of highest quality within tight timelines, prioritizing work as well as creating, maintaining, and supporting processes subject to intense regulatory scrutiny in a dynamic and complex environment
• Excellent communication skills and experience in building and maintaining partnerships, collaborating across lines of business as well as with corporate partners
• Knowledge and experience with SQL, Python, SAS, QRM, Python and/or R

Pay Range

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.
$111,100.00 - $197,500.00

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

Posting End Date:

21 Apr 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.

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.