Collateral & Netting Agreement Specialist - Sr. Market Risk Specialist
3 weeks ago
Wells Fargo is seeking a Senior Market Risk Specialist.
Market and Counterparty Risk Management (MCRM) develops, maintains and provides oversight of market, interest rate and counterparty risk activities across the enterprise. MCRM oversees capital adequacy, ensures risk remains within established risk appetite, and assists regulators in understanding how we manage market risks. The Credit Administration team under MCRM is seeking an experienced and motivated individual to join the Enterprise Credit Risk Netting Team (ECRN) within Credit Administration and Enterprise Counterparty Risk Management (ECRM). ECRN conducts firm-wide reviews to evaluate and confirm the application of netting and collateral enforceability within Wells Fargo. The Group's review and CoRS information drives the firm-wide, portfolio level aggregation calculations for all credit reporting, including business-as-usual risk management as well as critical senior management and regulatory reporting. Comprehensive, transparent, and sustainable processes related to the application of netting are necessary to ensure a successful risk management framework. To successfully sustain and create a more efficient netting process, the Credit Administration team is looking for a highly motivated candidate maintaining the skills to assist in the daily ECRN process, assist and take charge in a variety of critical projects and work effectively independently and within a team environment.
In this role, you will:
• Lead or participate in risk program development or maintenance and provide oversight of market, interest rate and counterparty risk activities within Market Risk.
• Contribute to evaluating and approving risk models related to risk management framework.
• Evaluate and approve moderately complex trading models, market risk, basis risk, delivery risk and counterparty aggregated credit risk exposure on a daily or long-range basis for specific financial products.
• Consult and implement initiatives with moderate to high risk and lead team to meet market risk deliverables.
• Leverage solid understanding of risk management challenges and provide input with focus on risk disclosures, remediation, due diligence, suitability, and reputation risk.
• Collaborate and consult with management and board of directors to provide periodic or scheduled risk reports that present a companywide view of risk management.
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 in Capital Markets, trading or interest rate risk, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education.
- Work closely with several internal groups that support Wells Fargo's netting processes, including but not limited to, the Legal Netting Enforceability Team (Legal NET), the WFS Documentation and Negotiator Teams, the Collateral Management Team and others.
- Responsible for identifying the relevant data elements from master netting and collateral agreements to conduct a review and formulate a netting conclusion in line with internal procedures.
- SQL skills - experience with understanding and editing existing SQL queries.
- Advanced MS Excel skills including pivot tables, graphs and formulas.
- Review master netting agreements and credit support documentation for pre-defined information, assessing the completeness and accuracy of the information for a netting determination, ensuring agreement data elements in CoRS are appreciate for netting and collateral sets.
- Interface with the attorneys in Legal NET to request and obtain bespoke netting and collateral enforceability opinions and ensure those terms are reflected accurately in CoRS.
- Lead exercises related to regulatory requirements, as well as requirements relative to internal/external audits, internal COSO testing and walkthroughs of the netting.
- Identify, understand and strive to become Subject Matter Expert (SME) regarding regulations impacting Close-out and/or Collateral Netting.
- Apply critical thinking principles to advance ECRNs current processes to create more efficiency and effectiveness; evaluate outside processes that impact ECRN.
- 8+ years of work experience in the field of Banking and Finance preferably in understanding data hierarchy, lineage etc.
- Basic understanding of capital markets and risk.
- Understanding of collateral and netting and margins.
- Excellent verbal, written and interpersonal communication skills.
- Good attention to detail and perseverance in completing tasks.
- Strong problem solving skills to perform root cause analysis, identify and define patterns, collaborate with stakeholders to design sustainable and logical production processes for the ECRN Team.
- Capability of working under pressure to meet deadlines, prioritize work and achieve goals in a dynamic and complex work environment.
- Ability to articulate and document complex concepts in a clear, concise manner.
- Quick learner, with the capability of adapting to dynamic situations.
- Ability to perform their own research and analysis while identifying problems and able to suggest potential solutions.
*Job posting may come down early due to volume of applicants.
We Value Diversity
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.
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Bengaluru, Karnataka, India WELLS FARGO BANK Full timeAbout this role:Wells Fargo is seeking a Senior Market Risk Specialist.Market and Counterparty Risk Management (MCRM) develops, maintains and provides oversight of market, interest rate and counterparty risk activities across the enterprise. MCRM oversees capital adequacy, ensures risk remains within established risk appetite, and assists regulators in...
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