Senior Audit Manager – Model Risk Management

Wells Fargo
October 31, 2020
San Francisco, CA
Job Type


Job Description

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.

Internal Audit conducts audits and reports the results of our work to the Audit & Examinations Committee of the Board of Directors. We provide independent, objective assurance and consulting services delivered through a highly competent and diverse team. As a business partner, Audit helps the Company accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

Internal Audit is seeking a talented individual to fill a Senior Audit Manager of Model Risk Management. This individual will lead an audit team focused on oversight of model risk management and compliance with supervisory guidance and internal policy. The role will have model risk oversight responsibilities in the areas of market risk, counterparty credit risk, trading, operational risk and compliance, financial crimes, and wealth and investment management. The ideal candidate will demonstrate comprehensive knowledge and understanding of supervisory guidance, the model validation and governance processes within Wells Fargo, and a wide variety of financial model types and uses.  This individual provides advice and offers credible challenge to business partners regarding the effectiveness of the control environment, business trends, issues, and operating and regulatory environment changes related to the development, validation, ongoing monitoring and use of models. The Model Risk audit team is part of the broader Capital and Models team within Wells Fargo Audit Services.  

A strong Model Risk Senior Audit Manager candidate will demonstrate professionalism and organizational savvy during regular contact with key stakeholders including executive management, regulators, peers and professional organizations.  As a Senior Audit Manager on the Model Risk audit team, you will play an important and dynamic role in building and maintaining a high-performing team, connecting with our business partners and regulators, and executing the audit plan.  You will monitor the business to identify key emerging risks and will support team member development and engagement.

As an employee, you are expected to achieve success by leading yourself, your team, and the business. Specifically you will:

  • Lead your team with integrity and create an environment where your team members feel included, valued, and supported to do work that energizes them.
  • Accomplish management responsibilities which include sourcing and hiring talented team members, providing ongoing coaching and feedback, recognizing and developing team members, identifying and managing risks, and completing daily management tasks.

Key functions of this position include the following:

  • Identify and manage effective risk-based audit coverage for model risk management activities. 
  • Work in a very dynamic, demanding, fast-paced environment and respond appropriately to rapid change sometimes based on imperfect information.
  • Demonstrate subject matter expertise in the areas of model risk, Basel, and/or CCAR/DFAST stress testing.
  • Work across organizational lines and model the "One Wells Fargo" mind set.
  • Professionally cultivate relationships with external regulators to clearly articulate our audit approach and results.
  • Create, manage and maintain a high performing geographically dispersed team of 8-12 individuals, while providing effective coaching and team member development.
  • Consistently demonstrate the ability to go above and beyond expectations.
  • Drive for superior results and quality.
  • Evaluate and provide creative solutions for complex problems. 
  • Maintain a "no surprises" environment with business partners as well as with peers and WFAS management by fostering an environment of open communication.
  • Display a sense of urgency while focusing on issues that truly make a difference.
  • Demonstrate excellent leadership skills and the ability to assess risks and controls.
  • Exhibit strong critical judgment regarding issue notification and escalation of issues to business partners and executive management.
  • Provide appropriate credible challenge to management in escalating significant risks and issues in an objective, professional and unbiased manner.
  • Understand and communicate highly technical issues to technical and non-technical stakeholders.
  • Work closely and credibly with highly technical quantitative analysts in audit and in the business.

Required Qualifications

  • 8+ years of experience in one or a combination of the following audit or risk functions: leading teams covering risk identification, mitigation and management (includes audit, legal, operational risk, compliance risk, credit risk, market risk, technology risk, or the management of a process or business with accountability for risk.)
  • 2+ years of management experience

Desired Qualifications

  • Experience at a financial institution or accounting firm
  • A BS/BA degree or higher
  • Leadership experience
  • Solid knowledge and understanding of audit or risk methodologies and supporting tools
  • Strong understanding of financial regulatory environment
  • Certification in one or more of the following: CPA, CAMS, CRCM, CIA, CISA or Commissioned Bank Examiner designation
  • Excellent verbal, written, and interpersonal communication skills
  • Strong organizational, multi-tasking, and prioritizing skills
  • Ability to work effectively in a team environment and across all organizational levels, where flexibility, collaboration, and adaptability are important
  • Ability to execute in a fast paced, high demand, environment while balancing multiple priorities
  • Solid problem solving skills
  • Good analytical skills with high attention to detail and accuracy

Other Desired Qualifications

  • Experience in market risk, counterparty credit risk, trading, operational risk and compliance, financial crimes or wealth and investment management
  • Comprehensive knowledge of model risk management and/or model validation
  • Demonstrated experience leading and enthusiastically motivating 8-12 individuals across the country to complete key audit deliverables timely with superior quality
  • Strong knowledge of FRB SR11-7 and OCC 2011-12 guidance
  • Capable of attracting, mentoring, retaining and promoting talented and productive staff.
  • Proven skills as a strong risk advisor and respected business partner
  • Ability to provide real time feedback to business partners regarding internal controls and emerging risk

Job Expectations

  • Ability to travel up to 10% of the time


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.

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