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                        Quantitative Analytics Specialist 4/ Senior Mortgage Quantitative/ Prepayment Modeler

                        Wells Fargo Bank
                        Ardsley On Hudson, NY 10503
                        Full-time, Part-time

                        Job Description

                        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.

                        Consumer Banking is an industry leader in supporting homeowners and consumers in addition to operating one of the most extensive banking franchises in the country. We serve mass market, affluent, and small business customers; as well as provide home and personal lending. Our focus is on delivering an exceptional experience for our customers through financial advice and guidance coupled with providing the products and services that will help them realize their financial hopes and dreams. We've built our team of top professionals by rewarding their accomplishments and ensuring they have what's needed to succeed.

                        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 developing prepayment and default behavior models for agency and non-agency mortgages,and the development of mortgage products and risk models. This includes 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 prepayment and default modeling and/or the development of mortgage pricing and risk models, as well as be familiar with Agency and Non-Agency Database 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:

                        • Design, estimate, implement, test, document and maintain statistical models for prepayment, default, loss severity forecasting, HPI forecasting of agency and non-agency mortgages
                        • 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
                        • Deliver business-oriented communications for internal and external counterparts
                        • Interacting with regulators on high visibility models in order to resolve regulatory MRAs (Matters Requiring Attention).


                        Required Qualifications

                        • 4+ years of quantitative development experience
                        • A master's degree or higher in a quantitative field such as mathematics, statistics, engineering, physics, economics, or computer science
                        • 4+ years of experience in an advanced scientific or mathematical field





                        Other Desired Qualifications
                        • Experience in developing prepayment and default models OR experience in developing mortgage risk and valuation models.
                        • Demonstrated experience in handling mortgage database (1010/embs/loan performance corelogic)
                        • Solid understanding of statistics, financial mathematics and models including, OAS framework, Monte Carlo simulation, LMM model, (exotic) interest rate derivatives models and mortgage analytics
                        • Excellent demonstrated experience with Python/R and working knowledge of SAS or  SQL and relational databases.
                        • Knowledge of C++ and VBA.
                        • Ability to communicate across multiple audiences (Technology, Quants, Senior Management)
                        • An impeccable reputation for integrity, accuracy, consistency, big picture orientation and business acumen


                        Job Expectations

                        • 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.
                        • Ability to travel up to 10% of the time



                        Street Address

                        NC-Charlotte: 401 S Tryon St - Charlotte, NC
                        NY-New York: 100 Park Ave - New York, NY



                        Disclaimer


                        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.

                        Posting ID: 561724554Posted: 2020-07-01