What are the responsibilities and job description for the Market Risk Specialist - Corporate and Investment Banking, Chief Risk Officer Group position at Wells Fargo?
About This Role
Wells Fargo is seeking a Market Risk Specialist within the Corporate Market Risk Group (CMRG). This role will be primarily focused on the reporting, monitoring and what-if pricing associated with the Standard Initial Margin Model (SIMM) requirements. This includes interaction with external counterparties around SIMM reconciliation as well as working with internal business partners to explain observed changes or differences. In addition, a successful candidate will also be expected to work with other members on the team for reporting related to xVA Trading, Structured Solutions Trading and Fixed Income Structured Notes Trading.
In This Role, You Will
13 Apr 2025
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.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
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
R-448166
Wells Fargo is seeking a Market Risk Specialist within the Corporate Market Risk Group (CMRG). This role will be primarily focused on the reporting, monitoring and what-if pricing associated with the Standard Initial Margin Model (SIMM) requirements. This includes interaction with external counterparties around SIMM reconciliation as well as working with internal business partners to explain observed changes or differences. In addition, a successful candidate will also be expected to work with other members on the team for reporting related to xVA Trading, Structured Solutions Trading and Fixed Income Structured Notes Trading.
In This Role, You Will
- Analyze vendor generated IM amounts based on our submitted sensitivities to confirm consistency and to accurately attribute
- Run and maintain daily reporting related to initial margin, including calculation comparisons with counterparties and aggregate initial margin risk sensitivities. Detect, analyze and explain the daily changes.
- Work with various business partners (Collateral, Front and Middle Office, Technology and other Market Risk team members) to investigate differences with counterparties around population or sensitivities and contribute to the resolution process
- Provide commentary to senior management as it relates to the associated initial margin exposures
- Assist other CMRG team members and the business areas they cover for all matters related to initial margin on un-cleared derivatives, which includes estimating margin portfolio impacts for potential trades
- Provide cross coverage of the xVA, Structured Solutions and Fixed Income Structured Notes reporting needs when necessary
- 2 years of market risk, Capital Markets, desk analyst, trading, interest rate risk or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
- Highly organized and able to prioritize multiple tasks, meet deadlines, achieve goals, and deliver in a dynamic and complex environment
- Strong analytical skills with high attention to detail and accuracy
- Strong interpersonal and communication skills, and the ability to work effectively with a wide range of business partners including Front Office, operations and technology
- Understanding of derivative trading products across multiple asset classes as well as market risk management concepts
- Intermediate MS Office skills, particularly Excel
- Working knowledge of systems, grasp over SQL and programming languages
- Bachelor's degree in finance, math, physics, economics, statistics, computer science, or engineering
- 550 S. Tryon - Charlotte, North Carolina
- This position currently offers a hybrid work schedule.
- Ability to work on-site at the stated location in the job opening.
- This position is not eligible for VISA sponsorship.
- This position is subject to FINRA Background Screening Requirements, including successful completion and clearing of a background check. Internal transfers are subject to comply with 17 CFR 240.17f-2 of the Securities Exchange Act of 1934 and FINRA Bylaws, Article III, Section 3, which states that Associated Persons should not be subject to statutory disqualification. Successful candidates must also meet ongoing regulatory requirements including additional screening and are required to report certain incidents.
- Specific compliance policies may apply regarding outside activities and/or personal investing; affected employees will be expected to provide information to the Wells Fargo Personal Account Dealing Team and abide by applicable policy requirements if hired. Information will be shared about expectations during the recruitment process.
13 Apr 2025
- Job posting may come down early due to volume of applicants.
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.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
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
- Third-Party recordings are prohibited unless authorized by Wells Fargo.
- Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.
R-448166
