Market Risk Director - Head of Governance for Counterparty Credit Risk
About the position
About this role: Enterprise Counterparty Credit Risk Management (ECRM) is seeking a strategic leader, Market Risk Director (Executive Director), to serve as the head of Governance for Counterparty Credit Risk at Wells Fargo. ECRM is part of Market and Counterparty Risk Management (MCRM) and provides independent risk oversight for Wells Fargo’s counterparty credit risk across all lines of businesses, domestic and international. ECRM opines on the strategy and performance of all counterparty activities and provides a companywide view of counterparty credit risk to senior management and the Board of Directors. The ECRM Head of Governance leadership role is pivotal in shaping, implementing, and overseeing the governance framework for counterparty credit risk across the enterprise. The ideal candidate will be responsible for the comprehensive governance framework, policies, procedures and controls to effectively manage and mitigate risk, while supporting business growth and regulatory compliance. In this role, you will: 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.
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.
Requirements
• 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
Nice-to-haves
• 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.
Benefits
• Health benefits
• 401(k) Plan
• Paid time off
• Disability benefits
• Life insurance, critical illness insurance, and accident insurance
• Parental leave
• Critical caregiving leave
• Discounts and savings
• Commuter benefits
• Tuition reimbursement
• Scholarships for dependent children
• Adoption reimbursement
Apply Now
Apply Now
About this role: Enterprise Counterparty Credit Risk Management (ECRM) is seeking a strategic leader, Market Risk Director (Executive Director), to serve as the head of Governance for Counterparty Credit Risk at Wells Fargo. ECRM is part of Market and Counterparty Risk Management (MCRM) and provides independent risk oversight for Wells Fargo’s counterparty credit risk across all lines of businesses, domestic and international. ECRM opines on the strategy and performance of all counterparty activities and provides a companywide view of counterparty credit risk to senior management and the Board of Directors. The ECRM Head of Governance leadership role is pivotal in shaping, implementing, and overseeing the governance framework for counterparty credit risk across the enterprise. The ideal candidate will be responsible for the comprehensive governance framework, policies, procedures and controls to effectively manage and mitigate risk, while supporting business growth and regulatory compliance. In this role, you will: 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.
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.
Requirements
• 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
Nice-to-haves
• 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.
Benefits
• Health benefits
• 401(k) Plan
• Paid time off
• Disability benefits
• Life insurance, critical illness insurance, and accident insurance
• Parental leave
• Critical caregiving leave
• Discounts and savings
• Commuter benefits
• Tuition reimbursement
• Scholarships for dependent children
• Adoption reimbursement
Apply Now
Apply Now