Lead Market Risk Officer -Enterprise Counterparty Risk Management (ECRM)

Wells Fargo Bank•Charlotte, NC

6d•Hybrid

About The Position

Wells Fargo is seeking a Lead Market Risk Officer for the Enterprise Counterparty Risk Management (ECRM) organization within Market and Counterparty Risk Management (MCRM) . ECRM is responsible for the governance, oversight, monitoring and reporting of counterparty credit risk generated by the primary trading and sales businesses. The successful candidate will be a key leader in the Governance team within ECRM, engaged the development and monitoring of counterparty credit risk policies, support for the management of a number of counterparty governance routines and the execution of related controls. In this role, you will: Develop and update counterparty credit policies and associated documents which align with regulatory expectations, are consistent with the bank’s risk appetite, are clearly understood by all stakeholders, and adhere to the company’s Policy Management Policy. Develop and maintain a comprehensive policy monitoring framework for counterparty policies to ensure policy requirements are being met effectively. Work closely with ECRM Approvers and CIB Markets line of business credit officers to manage the inventory of counterparty business policies and procedures, including content development, subject matter expert (SME) review, and liaison with the Wholesale credit policy management team. Engage with other members of ECRM and the lines of business to ensure awareness of new and modified business initiatives, coordinate counterparty credit risk-related feedback on initiatives, understand the potential implications of such initiatives for counterparty credit policies and procedures, ensure any policy or procedure implications are clearly incorporated into the new business process, and develop and implement the required policy and procedure changes. Engage with the Wholesale credit policy team to ensure awareness of potential counterparty implications of any changes to the Wholesale credit policies which impact counterparty credit; communicate such changes to the relevant members of ECRM and line of business counterparty credit underwriting teams and provide feedback to the Wholesale policy team. Act as the primary policy-related SME for ECRM team members, responding to questions, assessing the impacts of policy changes, communicating policy-related material, and coordinating changes to counterparty policy requirements. Execute policy- related activity in the Policy Management Platform as required by the Policy Management Policy and maintain familiarity with the Enterprise Policy Office and Risk Policy Liaison processes. Execute relevant policy-related risk control self-assessment (RCSA) controls, maintain and assess policy-related control and procedure infrastructure and recommend changes as appropriate. Support counterparty governance-related activities such as governing body management and administration (e.g. councils, committees and working groups) and associated control execution. Support the administration and management of counterparty credit risk key risk indicator and risk appetite metrics.

Requirements

5+ 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

Nice To Haves

Extensive experience in the development and management of policies and procedures, preferably including credit and/or counterparty-related policies in a large financial services organization.
Understanding of credit risk and counterparty credit risk management frameworks , practices and tools such as exposure management systems and policy management platforms .
Familiarity with counterparty credit products such as derivatives, foreign exchange, and securities financing activity, and with processes for the review and approval of modifications or additions to product capabilities.
Excellent written and oral communication skills and an ability to work effectively across multiple groups including front office and independent risk management teams.
Experience working with internal audit and with external regulatory agencies.

Responsibilities

Develop and update counterparty credit policies and associated documents which align with regulatory expectations, are consistent with the bank’s risk appetite, are clearly understood by all stakeholders, and adhere to the company’s Policy Management Policy.
Develop and maintain a comprehensive policy monitoring framework for counterparty policies to ensure policy requirements are being met effectively.
Work closely with ECRM Approvers and CIB Markets line of business credit officers to manage the inventory of counterparty business policies and procedures, including content development, subject matter expert (SME) review, and liaison with the Wholesale credit policy management team.
Engage with other members of ECRM and the lines of business to ensure awareness of new and modified business initiatives, coordinate counterparty credit risk-related feedback on initiatives, understand the potential implications of such initiatives for counterparty credit policies and procedures, ensure any policy or procedure implications are clearly incorporated into the new business process, and develop and implement the required policy and procedure changes.
Engage with the Wholesale credit policy team to ensure awareness of potential counterparty implications of any changes to the Wholesale credit policies which impact counterparty credit; communicate such changes to the relevant members of ECRM and line of business counterparty credit underwriting teams and provide feedback to the Wholesale policy team.
Act as the primary policy-related SME for ECRM team members, responding to questions, assessing the impacts of policy changes, communicating policy-related material, and coordinating changes to counterparty policy requirements.
Execute policy- related activity in the Policy Management Platform as required by the Policy Management Policy and maintain familiarity with the Enterprise Policy Office and Risk Policy Liaison processes.
Execute relevant policy-related risk control self-assessment (RCSA) controls, maintain and assess policy-related control and procedure infrastructure and recommend changes as appropriate.
Support counterparty governance-related activities such as governing body management and administration (e.g. councils, committees and working groups) and associated control execution.
Support the administration and management of counterparty credit risk key risk indicator and risk appetite metrics.