Quantitative Analytics Specialist Model Validation

About this role:

Wells Fargo is seeking a Quantitative Analytics Specialist.

Wells Fargos 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 models life cycle, including identification, development, validation, implementation, finding resolution, usage, performance monitoring, documentation, and retirement. In banks, financial/ regulatory models arean important toolwhich 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.

In this role, you will:

• Develop, implement, and calibrate various analytical models
• Perform highly complex activities related to financial products, business analysis and modeling
• Perform basic statistical and mathematical models using Python, R, SAS, C++ and SQL
• Perform analytical support and provide insights regarding a wide array of business initiatives
• Provide solutions to business needs and analyze workflow processes to make recommendations for process improvement in risk management
• Collaborate and consult with peers, colleagues, managers, and regulators to resolve issues and achieve goals.

Required Qualifications:

• 2+ 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 statistics, mathematics, physics, engineering, computer science, economics, or quantitative discipline.

Desired Qualifications:

• The Model Validator is responsible for completion of

  high-quality model validations

  to support business activities in the following areas:

  Treasury, Capital, Liquidity, Operational, Pre-Provision Net Revenue (PPNR), Finance, Asset-Liability Management, Balance Sheet, Business Planning, including Stress Testing (DFAST/ CCAR) and Recovery and Resolution Planning (RRP)

  as applicable
• 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
• Good experience in

  Python

  .
• Exposure to

  Balance sheet Models, Risk Rank Models, Qualitative

  experience preferred.
• Hands on

  model development/validation

  experience by using some of the

  quantitative methodologies including time series, logistic regression, linear programming and some of the tree technologies such as GBM, Random Forest

  , etc .
• 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
• 2+ years of practical quantitative programming experience with

  SAS, SQL, Python, R

  and comfortable working with large datasets.
• 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.

Job Expectations:

• A PhD in statistics, mathematics, engineering, computer science, economics, or quantitative field; or a Master s degree in the above areas with 2+ years of experience in one or a combination of the previously mentioned fields above.
• Shift Timings: 1:30 PM to 10:30 PM.

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