Overview

Corporate Risk helps all Wells Fargo businesses identify and manage risk. The team focuses on several key risk types, including 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.

Responsibilities

About this role:

This is a key role within the Legal Entity Interest Rate (IRR) Risk team, and reports to Head of Legal Entity IRR and Insurance Risk.  The position will cover a broad range of items associated with International ALM independent risk oversight for the EMEA and APAC region including interest rate risk and foreign exchange risk.  This position will support ALM risk assessment of multiple EMEA and APAC branches and legal entities in the context of balance sheet risk, local ALM risk regulatory expectations, as well as ensure adherence with Wells Fargo’s Risk Management Framework.  A successful candidate will possess self-initiative along with strong market or interest rate risk management expertise, analytical capabilities, and robust verbal and written communication skills.

ALM/IP Risk

ALM/IP Risk is a unit of the Finance Risk Management group providing governance and oversight of the Company’s ALM risk and Investment Portfolio. It consists of 5 teams:

• Enterprise Interest Rate Risk oversees ALM risk across the company

• Investment Portfolio/Treasury Market and Product Risk oversees risk associated with fixed-income investment activity across the company

• Legal Entity Interest Rate Risk and Insurance Risk oversees International ALM risk , Reinsurance and BOLI risk

• Investment Portfolio /Treasury Credit and Counterparty Risk coverage is asset class centric and is oversees exposures in the Investment Portfolio and Treasury

• Data, Reporting and Governance Support provides the team’s risk officers with analytics support, governance, and reporting

Roles & Responsibilities include:

• ALM Risk assessment and continuous monitoring of various EMEA and APAC branches and legal entities, including respective ALM risk measurements and analytics. 

• Communication with multiple business partners including risk and line of business staff, risk management partners in treasury, market, credit, investment, and technology functions. Work with these teams to understand the business, risk appetite, risk profile and risk metrics of the entities.

• Support development of appropriate ALM risk measurements and limits, work with reporting and analytics teams to ensure proper communication and escalation of risk issues to stakeholders and oversight committees.

• Work with stakeholders to ensure compliance with local ALM risk regulatory expectations and the firm’s Risk Management Framework

• Support stress testing, regular review and formal challenge sessions in the context of business as usual  and stress testing analysis.

Desired Qualifications:

• 5-10 years of balance sheet-wide interest rate risk management experience in either a front line, independent risk management (IRM), audit or regulatory capacity. Experience should include risk measurement, reporting and analysis.

• Demonstrate a strong understanding of IRR management tools (e.g. economic value of equity and earnings at risk), capital markets, wholesale funding and hedging. Experience with financial and accounting concepts (particularly as it relates to international ALM)

• Prefer experience in IRM, foreign exchange, international banking operations

• Demonstrate familiarity with IRR models in theory and practice. QRM experience is a plus.

• Demonstrate capabilities in leadership, relationship building, proactive management skills as well as experience with project management tools and approaches

• Possess strong analytical skills with high attention to detail and accuracy as well as the ability to understand problems, identify solutions and develop clear options and recommendations

• Ability to work with others collaboratively for team success

• Demonstrate excellent verbal, written, and interpersonal communication skills; experience presenting to senior management.

• Ability to synthesize information to identify key risks, customer impact, financial implications, delays that could impact delivery, and issues that pose material risk to the project or business

• Reliable, results driven individual with a track record of completing goals and objectives

• Experience in an environment that requires attention to detail, critical thinking and problem-solving skills.

• Ability to work independently and build relationships across teams.

• Should possess advanced Microsoft Office skills

• Bachelor’s degree in a quantitative discipline, such as Economics, Finance, Math, Accounting or similar quantitative major. Advanced degree in a related area preferred.