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.
Commercial Credit approves, coordinates, and oversees credit and related risk management activities for the enterprise's commercial credit practices, serving as a critical element of the organization's independent risk management. Together with line of business partners, Commercial Credit owns and is accountable for understanding credit, model, and reputational risks associated with the enterprise's commercial credit activities and for ensuring business activities do not exceed the risk tolerance of the company.
Commercial Credit leads the setting of credit policies and credit risk tolerance for Corporate Credit and Market Risk in alignment with corporate statements of risk appetite and the monitoring of current and emerging risks against those limits. We ensure practices established by Wholesale businesses are consistent with applicable frameworks, policies, and standards, and escalate instances of excessive risk and misalignment to appropriate levels. We monitor and sometimes lead remediation actions designed to reduce credit risk or correct instances of misalignment.
The group is seeking a Credit Oversight Senior Officer to provide senior credit officers with insights into emerging credit trends and risk concentrations.
This role will be responsible for various activities and will include, but not be limited to, the following:
Perform detailed credit research of company and industry fundamentals
Monitor portfolio, financial, market and economic data and assess the impacts to commercial credit fundamentals
Prepare analysis of credit migration and concentration risks across the portfolio
Identify emerging credit trends that could potentially impact earnings and capital
Work closely with quantitative analysts to develop structural and reduced form credit loss models
Respond promptly to key stakeholders' requests for data and analysis regarding commercial loan exposures
Partner with enterprise risk groups and commercial credit CCAR team
Present analysis, findings and recommendations to regulators and executive management
Develop portfolio risk mitigation strategies in partnership with credit officers and the lines of business
Develop and implement BAU stress testing procedures that inform risk identification and risk appetite
Conduct loss sensitivity and 'what if' analysis on portfolio names and sectors
10+ years of experience in risk role
Ability to present complex material in a digestible, consumable manner to all levels of management
Advanced Microsoft Excel skills
Knowledge and understanding of credit or portfolio management
Knowledge and understanding of regulatory compliance requirements surrounding BASEL, Risk Appetite and stress testing
Outstanding problem solving and analytical skills with ability to turn findings into strategic imperatives
Knowledge and understanding of structured products or market linked investments
Strong commercial credit analysis skills
Other Desired Qualifications
Familiarity with the Merton model, economic capital and portfolio theory
Familiarity with statistical and/or programming languages including R, Matlab or Python a plus
Bachelor degree in finance, accounting, business or quantitative discipline
Strong knowledge of debt markets, debt instruments and commercial loan products
Experience with corporate credit relative value and market-based pricing a plus
Firm understanding of bond math and options pricing
Formal credit training a plus
CFA or FRM a plus
Ability to travel up to 10% of the time
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.
Internal Number: 5546324
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,400 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 260,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
www.wellsfargo.com | Twitter: @WellsFargo