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Wells Fargo · 1 day ago

Market Risk Director - Head of Governance for Counterparty Credit Risk

New York, NY

Full-time

Hybrid

Senior Level, Lead/Staff

$215K/yr - $355K/yr

8+ years exp

Wells Fargo is seeking a strategic leader for the role of Market Risk Director, who will head the Governance for Counterparty Credit Risk. The role involves shaping and overseeing the governance framework for counterparty credit risk, ensuring effective risk management while supporting business growth and regulatory compliance.

BankingFinancial ServicesFinTechInsurancePayments

No H1B

Responsibilities

Manage and lead the development, implementation, and continuous improvement of the counterparty credit risk governance framework and key initiatives in ECRM and MCRM

Oversee the design and execution of policies, standards, and procedures to ensure effective risk identification, measurement, monitoring, and reporting

Collaborate with business lines, risk management, and key support functions to align governance practices with regulatory requirements and industry best practices

Structure, manage and chair relevant risk committees, councils and working groups, providing clear and informed guidance on counterparty credit risk matters

Manage the counterparty risk appetite program to ensure metrics and measures align with business strategies and risk tolerance

Determine and coordinate counterparty assessments and responses for new business initiatives

Maintain oversight of the management and testing of counterparty credit close-out and offboarding events

Serve as a key point of contact for internal and external auditors, as well as regulatory agencies, on matters related to counterparty credit risk governance

Manage the execution of governance-related controls in accordance with enterprise standards and policies

Foster a strong risk culture, providing leadership, mentorship, and training to team members and stakeholders

Qualification

Counterparty credit risk governanceRisk management leadershipRegulatory compliance knowledgeGovernance framework developmentStakeholder managementAnalytical skillsCommunication skillsProblem-solving abilitiesLeadership skills

Required

8+ years of experience in one or a combination of the following: market risk, Capital Markets, trading, or interest rate risk experience or equivalent experience demonstrated through one or a combination of the following: work experience, training, military experience, education

4+ years of management or leadership experience

Preferred

Deep knowledge of counterparty credit risk governance and oversight frameworks, regulatory requirements and/or guidance (e.g., OCC, Federal Reserve, Basel), and industry standards, including the BCBS guidelines for counterparty credit risk management

Detailed knowledge of counterparty credit risk aspects of traded products across asset classes

Familiarity with approaches to counterparty credit risk quantification

Proven track record of developing and executing governance structures and risk policies in a complex, matrixed organization

Exceptional leadership, communication, and stakeholder management skills, including the ability to present effectively, both in person and in writing

Ability to communicate effectively and knowledgably with a range of stakeholders from across the counterparty lifecycle, including front office, operations, legal, and credit underwriters and approvers

Experience and comfort in representing the counterparty governance function with internal audit and external regulatory agencies

Strong analytical and problem-solving abilities, with keen attention to detail and the ability to synthesize complex information for executive audiences

Familiarity with risk and control self-assessment framework at a large financial institution

Ability to lead challenging discussions with stakeholders for effective and timely decision making and as appropriate