Bengaluru,

About Wells Fargo


Wells Fargo & Company (NYSE: WFC) is a leading global financial services company headquartered in San Francisco (United States). Wells Fargo has offices in over 20 countries and territories. Our business outside of the U.S. mostly focuses on providing banking services for large corporate, government and financial institution clients. We have worldwide expertise and services to help our customers improve earnings, manage risk, and develop opportunities in the global marketplace. Our global reach offers many opportunities for you to develop a career with Wells Fargo. Join our diverse and inclusive team where you will feel valued and inspired to contribute your unique skills and experience. We are looking for talented people who will put our customers at the center of everything we do. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.



Market Job Description


About Wells Fargo India


Wells Fargo India enables global talent capabilities for Wells Fargo Bank NA., by supporting business lines and staff functions across Technology, Operations, Risk, Audit, Process Excellence, Automation and Product, Analytics and Modeling. We are operating in Hyderabad, Bengaluru and Chennai locations.

Department Overview:
Corporate Model Risk: Wells Fargo's Corporate Model Risk is responsible for independently overseeing the management of model risk exposures across the enterprise (including governing, monitoring, and reporting on aggregate model risk exposures, model validations, and model oversight across enterprise). This oversight extends to all phases of a model's life cycle, including identification, development, validation, implementation, finding resolution, usage, performance monitoring, documentation, and retirement.
Qualitative Model Validation: The Qualitative Model Validation group is responsible for validating and approving all qualitative models used across Wells Fargo including Credit, Liquidity, Market, Operational, Pre-Provision Net Revenue (PPNR), Finance, Balance Sheet, and Financial Crimes to name a few. The team's responsibilities include performing model validations (independent reviews, writing validation reports, and approving model usage), annual reviews, performance monitoring, and issue management. The team works closely with model users, developers, model governance, and Corporate Functional Model Oversight (CFMO) teams to manage model risk to the firm and facilitate the model approval process.

About the Role:


As Business Analytic Consultant 2 you will be responsible for the quality, and completion of model validation to support business activities in the area of Financial Crimes, which includes Fraud forecasting.


Responsibilities:

  • Execute the Validation processes for his/her area of specialty in accordance to applicable Policies, in particular:

    • Ensure credible challenge of models through validation process.

    • Evaluate all relevant components of models and assess model soundness across lifecycle as applicable

    • Identify areas of weakness and work with Model Owners, CFMO, and other key stakeholders to ensure risk commensurate remediation,

    • Ensure timely validation delivery

  • Establish reporting and escalation protocols of review results and follow up on identified issues/observations.

  • Continually work to improve consistency and quality of independent model validation

  • Ensure all models within scope are independently validated per expected standards and schedule.

  • Build and maintain effective working relationships with LOB Model Governance, Model Owners, Model Program team members, and CFMOs across Wells Fargo.

  • Understand model risk supervisory guidance, Model Risk Management Policy, and current industry best-practice



Market Skills and Certifications


Essential Skills:
* 2+ years of experience in one or a combination of: Bank Secrecy Act, Anti-Money Laundering, Fraud, or monitoring of financial transactions/accounts for policy violations.
* Degree in statistics, math, engineering, physics, accounting, finance, economics, econometrics, computer sciences, or business/social and behavioral sciences with a quantitative emphasis preferred
* Strong analytical skills with high attention to detail and accuracy

* Proficiency managing databases, spreadsheets or programming (understanding code and coding).

* Experience in the model development or validation.


Desired Skills:

  • High degree of knowledge of government and regulatory requirements regarding BSA/AML, CDD and EDD.

  • Knowledge of financial crimes monitoring processes and methodologies used to detect high-risk customers

  • Very familiar with types of fraud and variety of methodologies used to forecast operational risk losses



We Value Diversity


At Wells Fargo, we believe in diversity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national or ethnic origin, age, disability, religion, sexual orientation, gender identity or any other status protected by applicable law. We comply with all applicable laws in every jurisdiction in which we operate.

62483

Bengaluru,

At Wells Fargo, we’ve been proudly supporting military veterans and their families for more than 170 years.

We value the leadership, discipline, and skills you’ve gained through your service to our country and recognize the contributions our veteran team members bring to the table. We’re so committed to hiring and retaining military veterans, veterans with disabilities, National Guard members, and Reservists that we’ve made it our goal is to employ 20,000 veterans by 2020.

As a Wells Fargo team member, you’ll find a work culture that is team-oriented, collaborative, structured, and challenging. We support veterans transitioning from military service with a variety of job options, confidential resources, educational information, and career guidance. You may choose to join our Veteran’s Team Member Network, a group of thousands who share an interest in veterans’ matters, and that promotes greater awareness and job development within the veteran community. To learn more about opportunities at our company, please visit wellsfargojobs.com/military. Let’s talk about turning your military experience into a great civilian career.

Similar jobs