Lead Quantitative Analytics Specialist - Model Risk Auditor (Credit Risk)

About this role:

Wells Fargo Internal Audit is seeking a skilled and experienced Lead Quantitative Analytics Specialist to provide audit coverage of models/model risk management with a focus on, but not limited to, credit risk models used by the company.

This individual will be a subject matter expert supporting the daily operations and the audit coverage approach for credit risk models. This position provides a unique opportunity to gain a broad understanding of the risk management of models supporting retail and wholesale credit risk analysis and forecasting, originations, and account management. The individual will play an instrumental role in the ongoing auditing of models used to meet the regulatory requirements of Basel and CCAR, and the CECL accounting standard.

In this role, you will:   

•    Provide leadership and credibility in the third line of defense challenge of modeling practices in the company, focusing on credit risk models. This includes evaluation of development documentation, validation activities, and ongoing monitoring.
•    Plan, execute, and lead model audit engagements and technical reviews of models.
•    Serve as subject matter expert to Wells Fargo Internal Audit staff, senior management, and business partners on regulatory expectations, model risk policy, and current industry modeling practices pertaining, but not limited to, credit risk models.
•    Develop knowledge of business areas using credit risk models.
•    Produce quality audit deliverables suitable for senior management and external distribution.
•    Communicate findings and conclusions verbally and in writing to key stakeholders.
•    Build and maintain relationships with internal and external stakeholders.
•    Develop an understanding of Wells Fargo audit methodology and policy.
•    Train, mentor, and provide direction to junior team members and support their development.
•    Work effectively independently and within a team.
•    Champion opportunities and recommendations for process improvement and innovation.

Required Qualifications, US:

• 5+ 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

Desired Qualifications:

•    Experience performing model audit engagements
•    A PhD in a quantitative discipline 
•    Working knowledge of SR 11-7 and OCC 2011-12 supervisory guidance, Basel – Credit Risk, and CECL ASU 2016-3.
•    5+ years of experience in the development, validation, or auditing of credit risk models in the financial services industry, preferably with a large bank
•    Solid understanding of credit risk products
•    Working knowledge of stress testing and scenario design
•    Hands-on knowledge and experience with Python, C/C++/C#, SQL, R, Matlab, SPlus, Gauss, or SAS
•    Experience in data analysis and application of machine learning to credit risk modeling
•    Ability to work independently
•    Attention to detail in both analytics and documentation
•    Demonstrated ability to lead junior team members
•    Excellent technical, non-technical, and executive verbal and written communication skills

Job Expectation:

This position does not offer Visa sponsorship

Hybrid work schedule

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.

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:

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

We Value Equal Opportunity

Wells Fargo is an equal opportunity employer. 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.

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.

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.