Market Risk Sr. Officer - Asset Liability Mgmt. at Wells Fargo in West Des Moines, Iowa

Posted in Other 12 days ago.





Job Description:

Job Description

Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message.  In order to receive text message invitations, your profile must include a mobile phone number designated as 'Personal Cell' or 'Cellular' in the contact information of your application.

At Wells Fargo, we want to satisfy our customers' financial needs and help them succeed financially. We're looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you'll feel valued and inspired to contribute your unique skills and experience.

Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

Corporate Risk helps all Wells Fargo businesses identify and manage risk. The team focuses on several key risk types, including conduct, credit, financial crimes, information security, interest rate, liquidity, market, model, operational, regulatory compliance, reputation, strategic, and technology risk. The group provides leadership, enhances communications, assists with problem identification and solutions, and shares best practices. In addition, the group provides an enterprise-wide view of risk, assists management and our Board of Directors in identifying and monitoring risks that may affect multiple lines of business, and takes appropriate action when business activities exceed the risk tolerance of the company.

Asset Liability Management Risk is a unit of the Market and Counterparty Risk Management (MCRM) group, responsible for governance and oversight of the Company's Interest Rate Risk from an independent risk management perspective.  The group covers the net risk at the enterprise level resulting from market fluctuations in interest rates, credit spreads, or Foreign Exchange (FX) that may cause a loss of the company's earnings or capital stemming from mismatches in WFC's asset/liability cash flows or changes in the market value of the company's investment securities. 

The position is a highly visible role leading the interest rate risk oversight for the total Commercial Loan portfolio ( $500Bn) and the Trading Asset and Liabilities portfolio ( $100Bn).  The successful candidate will coordinate enterprise reporting of the Interest Rate Risk (IRR) metrics and key risk trends to senior forums including Asset Liability Committee (ALCO) and Enterprise Risk & Control Committee (ERCC).  In addition, the person would represent and provide analytical leadership to the cross functional programs including negative rates readiness and London Inter-Bank Offered Rate (LIBOR) transition. 

Additional responsibilities will include, but not be limited to, the following:
  • Participates in cross functional communications with Market and Counterparty Risk Management, ALM Risk Analytics & Infrastructure, and Front Line teams to drive insight
  • Delivers meaningful information to leadership around macroeconomic, industry and WFC businesses trends
  • Drives and builds presentations to tell a story
  • Provides challenge to and independent assessment of the front line with respect to Business Group and Enterprise Function decisions and strategic initiatives to balance risk and reward and align with the Company's approach to risk, and if it is not satisfied, it may request additional analysis or a modification of the proposed front line action
  • Establishes a risk type-specific statement of risk appetite and associated measures aligned with the risk measurement program
  • Provides challenge and independent assessment with respect to risk identification and assessment approaches and outputs
  • Performs and documents independent risk assessments consistent with laws and regulations and escalates as appropriate where differences exist between independent risk assessments and the front line self-assessments
  • Provides relevant and comprehensive risk information to senior management and the Board, as appropriate
  • Represents ALM Risk at the negative rates program, providing challenge and independent assessment of the business strategies and modeling assumptions
  • Provides support to back-up and assist the Manager in fulfillment of the team's responsibilities
  • Provide thought leadership in assessing the risk due to LIBOR transition, assessing front line's strategy and highlighting risks
  • Establishes and maintains risk monitoring and risk reporting strategies
  • Provides challenge and independent assessment and monitors front line monitoring and other self-assurance activities

Preferred locations for this position are Charlotte, NC; Minneapolis, MN; Des Moines, IA; New York, NY; Phoenix, AZ; Saint Louis, MO; Dallas, TX.   Relocation assistance is not available for this position

Required Qualifications

  • 10+ years of experience in one or a combination of the following: market risk, capital markets, trading, or interest rate risk

Desired Qualifications

  • Advanced Microsoft Office (Word, Excel, Outlook and PowerPoint) skills
  • Excellent verbal, written, and interpersonal communication skills
  • Strong analytical skills with high attention to detail and accuracy
  • Experience with trading and investment portfolios, assets and liabilities, including forecasting, performing financial analysis, and analyzing interest income and balance sheet behavior
  • Knowledge and understanding of risk management or quantitative modeling
  • Ability to represent the company/business units to internal and external auditors, RECOR, OCC, or other regulatory agencies
  • Ability to grasp complex business issues quickly, recommend solutions, and drive for resolutions
  • Ability to develop partnerships and collaborate with other business and functional areas
  • Ability to influence and collaborate at all internal organizational levels
  • Ability to identify and evaluate exposures and potential risks
  • Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment

Other Desired Qualifications
  • Experience in Financial Valuations of commercial loans or financial structures
  • Significant experience with the CCAR stress testing process at a large financial institution
  • Experience forecasting Net Interest Income (NII)
  • Industry standard ALM tools like Quantitative Risk Managment (QRM), Bancware, Essbase
     

Street Address

NC-Charlotte: 301 S College St - Charlotte, NC
MN-Minneapolis: 600 S 4th St - Minneapolis, MN
IA-West Des Moines: 7001 Westown Pkwy - West Des Moines, IA
NY-New York: 150 E 42nd St - New York, NY
AZ-PHX-Central Phoenix: 100 W Washington St - Phoenix, AZ
MO-Saint Louis: 1 N Jefferson Ave - Saint Louis, MO
TX-DAL-Old Town: 5809 E Lovers Lane - Dallas, TX

Disclaimer

All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.

Relevant military experience is considered for veterans and transitioning service men and women.

Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.