Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message. In order to receive text message invitations, your profile must include a mobile phone number designated as 'Personal Cell' or 'Cellular' in the contact information of your application.
At Wells Fargo, we want to satisfy our customers' financial needs and help them succeed financially. We're looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you'll feel valued and inspired to contribute your unique skills and experience.
Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.
Wells Fargo Home Lending is the largest home mortgage lender and servicer in the U.S., funding one of every nine loans and servicing one of every seven loans. In 2018, we helped 582,000 homeowners purchase or refinance their homes, and we provide mortgage servicing for more than 8 million customers. NeighborhoodLIFT, CityLIFT, and HomeLIFT are distinct programs that complement each other with a common purpose to create sustainable homeownership. In recent years, Wells Fargo has announced diverse lending commitments to increase homeownership in the African American and Hispanic communities.
Our Capital Markets team manages the interest rate and operational risks associated with the origination, sale and servicing of mortgage loans, and provides liquidity for the mortgage assets originated by Wells Fargo. All quantitative modeling related to market and interest rate risk on the bank's mortgage products is concentrated in the Mortgage Modeling Center of Excellence. This group does not only support the consumer banking mortgage activities, but also the bank's trading activities and investment portfolio positions in mortgage products.
The senior quantitative modeler will be in charge of the development of interest rate and other models to support the pricing of mortgage products, ongoing monitoring and research related to mortgage model performance and the all end implementation and testing of and research into the group's internal and vendor pricing models. Depending on experience and background, the candidate may focus on a subset of these areas. A successful candidate must have strong expertise in interest rate products modeling and be familiar with Residential Mortgage-Backed Securities (RMBS) valuation, OAS framework and risk analysis.
Key duties and responsibilities of this position include, but may not be limited to:
Working independently on development, testing, and implementation of OAS valuation, Risk Management and Statistical models for Mortgage Servicing Rights, Mortgage Backed Securities and Vanilla and Exotic Interest Rate Derivatives using Polypaths and C++
Conducting ongoing maintenance and research on models for risk management of mortgage and fixed-income products
Developing model performance metrics like statistical back tests or P&L explanation analysis
Handle and evaluate extensive varied database from multiple internal and external sources
Work with traders and portfolio managers to define and prioritize business requirements
Translate business requirements to practical and well defined research projects
Interacting with regulators on high visibility models in order to resolve regulatory MRAs (Matters Requiring Attention)
4+ years of experience in an advanced scientific or mathematical field
A master's degree or higher in a quantitative field such as mathematics, statistics, engineering, physics, economics, or computer science
Other Desired Qualifications
2+ years of mortgage or fixed income experience
Solid understanding of financial mathematics and models including, OAS framework, Monte Carlo simulation, LMM model, (exotic) interest rate derivatives models and mortgage analytics
Experience in more than one programming language (Python, C++, Java, C#, R)
Understanding of data structures, algorithms and design patterns
Experience in a mortgage banking environment
Ability to thrive in a deadline-oriented environment with a demanding workload
Knowledge of Business Intelligence tools (Tableau, Datawatch)
Ability to communicate across multiple audiences (Technology, Quants, Senior Management)
An impeccable reputation for integrity, accuracy, consistency, big picture orientation and business acumen
Ability to travel up to 5% of the time
This position requires compliance with all mortgage regulatory requirements and Wells Fargo's compliance policies related to these requirements including acceptable background check investigation results. Successful candidates must also meet ongoing regulatory requirements including additional screening and required reporting of certain incidents.
NC-Charlotte: 401 S Tryon St - Charlotte, NC MO-Saint Louis: 1 N Jefferson Ave - Saint Louis, MO MN-Minneapolis: 600 S 4th St - Minneapolis, MN NY-New York: 100 Park Ave - New York, NY
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.
Internal Number: 5546481-3
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,400 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 260,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
www.wellsfargo.com | Twitter: @WellsFargo