Senior Quantitative Model Validator, Rates & FX Model Validation

Wells Fargo•St. Louis, MO

1d•$139,000 - $239,000•Hybrid

About The Position

The Markets Model Risk Management team is seeking an experienced quantitative analytics specialist to independently validate derivative pricing models used by the Macro trading desk within Corporate & Investment Banking, with a primary focus on Rates and FX derivatives. The role supports the expansion of the Macro Trading Desk and the development and implementation of new and enhanced models, including term structure models, curves, and volatility surfaces for products such as single-currency and cross-currency Bermudan options, callable instruments, range accruals, collateralized inflation-linked floaters, and hybrids. The position operates at the intersection of front-office quantitative modeling and regulatory model risk management, partnering with trading, quantitative research, risk, and senior stakeholders. The validator assesses models across their lifecycle, challenges assumptions and methodologies, designs testing scenarios, implements model components, conducts and analyzes testing, and develops alternative models. Work and conclusions must be documented with risk-based rationale and aligned with model purpose, usage, governance, and applicable standards. The role involves communicating model risks and validation conclusions to technical staff, senior management, and regulators, as well as building strategic partnerships in a fast-paced environment with strict timelines. The position also provides guidance to junior validators and contributes to improvements in the MRM framework. The work schedule is hybrid, with an expectation of working onsite at the location stated in the posting.

Requirements

At least 4 years of Quantitative Analytics experience, or equivalent demonstrated through work experience, training, military experience, or education.
Bachelor's degree or higher in a quantitative discipline such as mathematics, statistics, engineering, physics, economics, or computer science.
Willingness to work onsite at the location stated in the job posting.
Ability to communicate verbally and in writing with technical staff, senior management, and regulators.
Ability to build and maintain strong strategic partnerships, multitask, and meet strict timelines.

Nice To Haves

PhD in a quantitative discipline such as Quantitative Finance, Computational Finance, Mathematics, Physics, Engineering, or Computer Science.
Deep expertise in quantitative model development or validation within financial markets, a strong theoretical foundation in derivatives pricing, and applied quantitative research experience contributing to model design, enhancement, and validation methodologies.
Advanced knowledge of term structure modeling, volatility modeling, and curve construction across single-currency and cross-currency frameworks.
Strong programming capabilities in Python, C++, or Java, with experience building and implementing production-grade models.
Experience partnering closely with front-office quantitative and trading teams.
Hands-on experience with Rates and/or FX derivatives in a trading or front-office-adjacent environment.
Solid understanding of regulatory model risk frameworks.

Responsibilities

Perform independent validation of front-office pricing and risk models across Rates and FX businesses, documenting validation conclusions and risk assessments.
Provide effective challenge to models developed by lines of business, particularly CIB front-office quantitative teams.
Validate models for products including single-currency and cross-currency Bermudan options, callable instruments, range accruals, collateralized inflation-linked floaters, FX options, and hybrids.
Review and assess term structure models, including multifactor interest rate models, and stochastic or local volatility frameworks.
Develop benchmark or alternative models, or replicate front-office implementations, to support validation conclusions.
Identify conceptual weaknesses, limitations, and model assumptions, and communicate associated risks to stakeholders.
Validate spreadsheet-based and non-library models, including controls, calculations, and governance standards.
Ensure models meet regulatory expectations and internal model risk standards.
Interact with front-office quants, risk managers, senior management, and regulators on model-related topics.
Provide guidance and mentorship to junior validators.
Contribute to process improvements within the MRM framework.
Challenge modeling choices and assumptions, design testing scenarios, numerically implement model components, conduct and analyze comprehensive testing, and document risk-based rationale.