The Wells Fargo Investment Portfolio (“IP”) comprises public and private investments for Principal Investments (“PI”) and public investments for Treasury Investments (“TI”). With dual reporting to Wholesale (PI) and Treasury (TI), IP manages a portfolio of AFS and HTM investments.
The Portfolio Analytics Group is a unit of the Wells Fargo Investment Portfolio (“IP”) group, which invests in liquid products such as Agency MBS, Treasuries and Swaps and is also responsible for the evaluation of credit-driven investment opportunities across a broad spectrum of asset classes such as Corporates, Municipals, ABS, CMBS, loans, and off-balance sheet instruments.
Job Description / Responsibilities:
- Assist with complex investment portfolio modeling, reporting and analytics on the Wells Fargo Investment Securities, derivatives and loan portfolios, ensuring accurate portfolio modeling for interest rate risk, income/strategy analysis, stress testing and capital planning along with ad-hoc scenario analysis.
- Develop tools and reporting to provide insight concerning changes in the securities portfolio risk profile and contributes to the evaluation of risk management strategies. Contributes to broader Corporate Asset Liability Management simulations for short-term (Earnings-At-Risk) and long-term interest rate risk measures (EVE, Duration Gap, OCI Sensitivity) and reporting.
- Contributes to portfolio strategy through ongoing analysis of external market conditions, product availability and existing portfolio makeup and leads development of dynamic securities forecasting tools to support decision making regarding portfolio size, product mix, and investment actions
- Support projects or analysis of the investment portfolio that involves working with multiple functions and teams across the Portfolio Analytics group, Asset Liability Management, Investment Portfolio group as well other groups across Treasury and the Bank. Acts as a technical expert on the Bank’s fixed income securities for various stress test exercises including CCAR / DFAST.
- Partners with modeling experts to evaluate and analyze modeling of residential prepayment behavior for Agency and Non-Agency Mortgage Backed Securities under various interest rate and economic scenarios and providing insight into portfolio prepayment behavior to guide portfolio strategy and impact on the Bank’s interest rate sensitivity metrics
Other roles and responsibilities:
- Regulatory / audit interactions: participate in monthly and quarterly meetings in addition to other examinations and audits
- Model validation / compliance: focus on change control, model validation, annual policy reviews, etc.
The ideal candidate has sharp analytical skills, demonstrated attention to detail, sound critical thinking, and solid problem-solving capabilities. We are looking for a self-motivated person who learns quickly and thrives in a challenging environment. Ability to work independently, prioritize multiple tasks, and take on new challenges is crucial.
Team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.
- 1+ year of experience in portfolio analysis, finance, or have participated in a Wells Fargo analyst or intern training program
Other Desired Qualifications
- A BS/BA degree or higher in Accounting, Finance, or Economics
- Progress towards Chartered Financial Analyst (CFA) designation
- Excellent verbal, written, and interpersonal communication skills
- Advanced Microsoft Office skills and SQL or similar programming/database experience
- Strong analytical skills with high attention to detail and accuracy
- Ability to work effectively in a team environment and across all organizational levels, where flexibility, collaboration, and adaptability are important
- Experience with valuation models for fixed income securities and derivatives pricing: Blackrock, QRM, Bloomberg, Calypso
- Experience working with prepayment models
- Prior experience analyzing and modeling fixed income securities across multiple asset classes
All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.
Relevant military experience is considered for veterans and transitioning service men and women.
Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.