About this role:The Corporate Market Risk Group (CMRG) within Market and Counterparty Risk Management (MCRM) is responsible for providing independent identification, monitoring, and credible challenge of market risks across Wells Fargo Corporation. Market risk officers work closely with multiple lines of business and Corporate and Investment Bank (CIB) business partners, including Risk Analytics, Technology, Finance and Operations. Team members are responsible for ensuring the completeness and accuracy of all market risk measurements, including risk factor sensitivities, Value-at-Risk (VaR) and stress scenarios.
Wells Fargo is seeking a Senior Market Risk Specialist for the Rates, Commodities and Foreign Exchange (FX) Market Risk Oversight team,
focused primarily on the FX Trading business.
In this role, you will:- Utilize market risk measures such as VaR, stress scenarios and risk factor sensitivities to monitor, report and constrain market risk exposures originating from the market-making activities of the FX Trading business.
- Collaborate with CMRG management, FX Market Risk Oversight and FX Trading team members to maintain an effective and comprehensive market risk mandate.
- Maintain and enhance market risk reporting routines to effectively communicate risk concentrations, market risk limit usage and sources of trading profit/loss.
- Engage with FX Trading team members and CIB business partners to ensure sufficient market risk support for new business initiatives.
- Analyze complex models and products to ensure comprehensive market risk capture, consistent with the market risk mandate and higher-level risk management policies.
- Participate in recurring regulatory and risk management engagements such as Comprehensive Capital and Analysis Review (CCAR), stress scenario design and Volcker metric review.
Required Qualifications:- 4+ years of experience in one or a combination of the following: trading, desk analyst, capital markets, market risk, interest rate risk, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education.
Desired Qualifications:- Experience working with a broad range of capital markets business partners including trading, quantitative partners, finance, operations, and technology, to complete shared business objectives.
- Experience in foreign exchange products, pricing models and markets.
- Ability to work independently, meet deadlines and work under pressure in a dynamic and fast-paced working environment.
- Strong understanding of derivative pricing models and risk measurement calculations such as VaR, stress scenarios and risk factor sensitivities.
- Advanced Microsoft Office Skills (Excel VBA).
- Proficiency in Microsoft SQL.
- Strong analytical skills with high attention to detail.
- Strong spoken and written communication skills.
- Financial Risk Management Certificate (FRM) preferred.
- Chartered Financial Analyst (CFA) preferred.
- BS/BA degree or higher.
Job Location:- 500 W. 33rd Street - New York, New York
Job Expectations:- Ability to work at one of the approved locations in the job posting.
- This position is not eligible for Visa sponsorship.
- Compliance with in-office policy.
Pay RangeReflected 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.
$133,300.00 - $237,100.00
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:2 Dec 2024
* Job posting may come down early due to volume of applicants. We Value DiversityAt 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 DisabilitiesTo request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo .
Drug and Alcohol PolicyWells 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.
