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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.
Wholesale Banking provides financial solutions to businesses across the United States and globally. Our four major business lines include Corporate & Investment Banking, Commercial Banking, Commercial Real Estate, and Wells Fargo Commercial Capital. We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses.
Successful candidate is to assume a front office quant role in NYC to support the XVA and structured solutions trading desk and take on regulatory projects, such as SA CVA. The quant would be working closely with the XVA and structured solutions traders and other quant team members in order to participate in the development of new XVA models and platform. He/she would be in close contact with IT developers in order to ensure best practice and coherent implementation. This candidate is also to lead the modeling efforts of fair value structured notes, including non-USD fair value structured notes.
Help design practical pricing and risk management solutions.
Help brainstorm with the desks on methodological questions.
Provide prototype solutions and work through robust implementations in the systems along with XVA and structured solutions quant team and other teams (trading, MO, IT etc.).
Perform core mathematical model development and the model implementation in C++.
Participate in the model deployment in the system.
Understand business needs and provide possible solutions by explaining in a clear verbal and/or written communication to traders and/or management.
Understand processes and work flows to make recommendations for process improvements. Bring closure to issues, questions and requests. Solve problems independently.
Consistently learn new systems, applications, processes and techniques.
Participate in advanced CVA/XVA modeling for
Wrong-way risk (WWR) and right-way risk (RWR).
Cross-asset CVA models and modeling framework.
Lead the modeling efforts of fair value structured notes, including non-USD fair value structured notes
Properly formulate and implement the DVA methodology in fair value structured notes.
Proficient in analyzing hedge effectiveness.
Properly model the structured features, such as callability, zero/accreter swaps cross-currency basis, funding volatility.
Team members 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.
7+ years of experience in capital markets, industry experience within the specific sector of the position, or a combination of both
8+ years of derivatives experience
8+ years of C++ experience
8+ years of quantitative development experience
PhD in quantitative field such as mathematics, statistics, engineering, physics or computer science.
8+ years of interest rate derivatives modeling experience
Strong analytical and quantitative skills
Effective organizational, multi tasking, and prioritizing skills
Knowledge and understanding of finance, investment accounting, fixed income securities, bond math, and fixed income portfolio risk measures
Knowledge and understanding of financial products and associated mathematical concepts
Strong math skills
Strong, clear and concise written and oral communication skills
Knowledge of financial mathematics, such as stochastic calculus
NC-Charlotte: 550 S Tryon St - Charlotte, NC NY-New York: 30 Hudson Yards - New York, NY
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: 5553915-2
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