Managing Director, Front Office Markets Model Oversight Director

Wells Fargo & Company•New York, NY

1d•$250,000 - $420,000

About The Position

Corporate & Investment Bank (CIB) delivers a comprehensive suite of banking, capital markets and advisory solutions, including a full complement of sales, trading and research capabilities, to corporate, government and institutional clients. We focus on our clients' overall financial needs, with consideration and respect for their total relationship with Wells Fargo. Markets provides solutions to clients with the means to manage their exposure through various derivatives, lending and cash products across Structured Products Group, Rates, Equities, Foreign Exchange, Municipal Products Group, Credit Sales & Trading. About this role: The Model Oversight Director is a Managing Director level role within the Corporate & Investment Banking organization (CIB). The successful candidate will lead a model governance team and provide direction on all aspects of model policy and governance across all asset classes. The candidate will be responsible to coordinate timely completion of model maintenance requirements between model owners, developers, and other relevant stakeholders, and represent Front Office in interactions with second line functions such as model risk management, model audit, etc.. In this role, you will: Ensure proper and timely maintenance of Front Office models including pricing models, market data model, PnL models, and risk models. Review the model governance framework and identify improvements to achieve a more efficient model approval process. Collaborate with relevant stakeholders to obtain agreement on model governance improvements and oversee their implementation Communicate with model owners, model developers, and other stakeholders regarding model policy changes and requirements Represent Front Office in model governance-related discussions with second line functions such as MRM and audit. Collaborate with asset class quant and Technology teams to ensure adequate testing of model code Review internal policy and procedures around data management in connection with model governance

Requirements

8+ years of Securities Quantitative Analytics experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
4+ years of management or leadership experience

Nice To Haves

8+ years demonstrated experience in front office model oversight management
5+ years of experience in model governance of front office pricing models across multiple asset classes
5+ years of experience in model validation of front office and risk models
5+ years of model development experience for front office or Risk applications.
4+ years of management experience at the relevant level with direct reports responsible for annual reviews, employee production, staffing and recruitment
Excellent understanding of quantitative modeling in several asset classes.
Solid experience with risk modeling: VaR, PFE, backtesting, Capital calculations.
Excellent verbal, written, and interpersonal communication skills with the ability to effectively communicate complex technical concepts to both technical and non-technical audiences
Ability to effectively interact with senior Front Office quants and Traders
Demonstrated ability to recruit, lead, mentor, and manage a team of quantitative analysts.
Ability to drive change in large organizations
Master's or higher degree or equivalent in computer science, computational finance, mathematics or similar technical fields.

Responsibilities

Ensure proper and timely maintenance of Front Office models including pricing models, market data model, PnL models, and risk models.
Review the model governance framework and identify improvements to achieve a more efficient model approval process.
Collaborate with relevant stakeholders to obtain agreement on model governance improvements and oversee their implementation
Communicate with model owners, model developers, and other stakeholders regarding model policy changes and requirements
Represent Front Office in model governance-related discussions with second line functions such as MRM and audit.
Collaborate with asset class quant and Technology teams to ensure adequate testing of model code
Review internal policy and procedures around data management in connection with model governance