Vice President, Counterparty Credit Management - Central Clearing Counterparties & Financial Market Infrastructure Credit Manager

Wells Fargo•Charlotte, NC

3d•Onsite

About The Position

Wells Fargo is seeking a Lead CIB Portfolio Manager to join our CIB Markets Counterparty Credit Management (CCM) Underwriting and Portfolio Management team. This role sits within the Corporate & Investment Banking (CIB) Markets Division and is part of the front line team responsible for underwriting, grading, and ongoing monitoring of certain institutional client types, primarily non-bank financial institutions such as Broker Dealers, Mortgage REITs, mortgage originators, Central Clearing Counterparties (CCPs), Government-Sponsored Enterprises (GSEs), and municipalities, as well as regulated funds, hedge funds, and private equity funds, with a focus on entities that transact with the CIB Markets Division.

Requirements

5+ years of Experience in CIB Portfolio Management, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Nice To Haves

An understanding (or curiosity) of how systemic tail risk may impact the Financial Market Infrastructure and how losses may impact the clearing industry.
Understanding of the default liquidation process and risk to clearing members.
Expertise in Securities Financing Transactions and repo clearing, including the SEC’s US Treasury Clearing Mandate.
Experience with non-bank financial institutions (knowledge of CCP firms a plus)
Knowledge of capital markets and counterparty credit risk, including the major financing, listed, and cleared OTC traded products
Experience with Prime Brokerage, FCM, Repo, Foreign Exchange, and other financing or clearing businesses
Knowledge of and experience with negotiating credit points in master trading legal documentation (ISDA, MRA, PBCA, FCSA, etc.)
Experience with financial statement and legal document analysis
Intermediate Microsoft Office skills (Outlook, Word, Excel, PowerPoint)
Ability to execute in a fast paced, high demand environment while balancing multiple priorities
Ability to partner with a wide range of colleagues including sales, trading, legal, market risk, counterparty credit risk, and operations teams
Demonstrated commitment to risk management and core values of the organization
Personal ability to understand and operate successfully in a complex, heavily matrixed corporate environment

Responsibilities

Lead underwriting, grading, and risk management of a portfolio of non-bank financial institutions that are active in capital markets trading with various Wells Fargo entities.
Manage relationships with Central Clearing Parties and assess clearinghouse risks (membership, margin, default fund, default waterfall, and recovery/resolution exposures); evaluate CCP governance, financial resources, and risk frameworks.
Support the continued expansion and formalization of Wells Fargo’s CCP underwriting and portfolio management capabilities, including engagement with internal stakeholders on regulatory, governance, and risk oversight matters related to clearinghouse exposures.
Recommend and justify credit limits for capital markets trading businesses, negotiating master documentation, escalating limit exceptions, and reacting to the credit quality of assigned sector(s)
Research complex clearing and Financial Market Infrastructure business models, including systemic tail-risk and unprecedented factors.
Make decisions in complex and multifaceted situations requiring exceptional understanding of the function, policies, procedures, and compliance requirements that influence and lead a broader work team to meet deliverables and drive new initiatives
Identify opportunities for process improvements within scope of responsibilities or functional area
Collaborate and consult with peers, colleagues, and mid-level to more experienced managers to resolve issues and achieve goals
Lead projects, teams, or serve as a peer mentor