IrvingRecruiter Since 2001
the smart solution for Irving jobs

Quantitative Analytics Specialist 3 - Financial Crimes Model Development

Company: Wells Fargo
Location: Irving
Posted on: June 6, 2021

Job Description:

Job Description

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 are looking for talented people who will put our customers at the center of everything we do. We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired.

Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

As the company's second line of defense, Corporate Risk - or Independent Risk Management - provides independent oversight of risk-taking activities. Independent Risk Management establishes and maintains Wells Fargo's risk management program and provides oversight, including challenges to and independent assessment of, the frontline's execution of its risk management responsibilities. We manage risk according to the Risk Management Framework and ensure all employees understand their individual accountability for managing risk.

Corporate Risk helps all Wells Fargo businesses identify and manage risk. We focus on three key risk areas: credit risk, operational risk and market risk. We help our management and Board of Directors identify and monitor risks that may affect multiple lines of business, and take appropriate action when risks posed by business activities exceed the company level of risk tolerance.

The Financial Crimes Model Development (FCMD) team is part of Risk Modeling Group (RMG) and is responsible for developing Financial Crimes models in support of the Financial Crime Risk Management Analytics group. FCMD model activities include developing code and analysis through tools such as SAS Python, R and SQL. FCMD combines quantitative and statistical results with business knowledge to tune and maximize model performance as well as comply with Model Validation policies and guidelines.

FCMD is currently searching for a Quantitative Analytics Specialist 3 who will focus on developing models in the area of AML monitoring and surveillance, customer due diligence and enhanced due diligence (CDD/EDD), transaction and front line monitoring. The models are based on statistical modeling techniques such as logistic regression, cluster analysis, time-series analysis, Machine Learning techniques, and other methods. Customer population across various WF LOBs such as regional banking, wealth management, wholesale, customer lending, etc. are all included in the potential modeling profile.

The main job responsibilities include, but will not be limited to:

  • Lead develop, analyze, and present methodologies to improve current FCMD models
  • Lead model development efforts to improve the detection of Financial Crime activity based target events
  • Present and document model development results including data analysis, calibrations and model improvement details.
  • Closely work with model owners to tweak model results to satisfy business judgement on risk factor selection and outcomes.
  • Design model monitoring methodologies and investigate performance issues through regular testing and monitoring.
  • Provide model document compliant with Wells Fargo model validation and governance requirements.
  • Work with Corporate Model Risk Management team and model owners to address any issues associated with a particular model.
  • Work with other regulators to address any questions and concerns.
  • Mentoring junior team members to improve their modeling methodologies and AML knowledge understanding

Required Qualifications

  • 2+ 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

Desired Qualifications

  • A PhD in a quantitative discipline
  • Ability to execute in a fast paced, high demand, environment while balancing multiple priorities
  • Excellent verbal, written, and interpersonal communication skills
  • Strong project management skills
  • Ability to effectively assess stakeholder, partner, or client needs while consulting, building solutions, and developing processes

Other Desired Qualifications

  • End-to-end experiences in working with raw data to completing analysis/model development and documentation
  • AML Financial Crime project leadership experience of applying quantitative and statistical approaches to AML and financial crime risk
  • In-depth understanding of various statistical and modeling approaches and utilize them when needed in the model development process
  • In-depth knowledge of Financial Crime Investigation process and data flow
  • Model risk management experiences to address potential model issues and regulator's concerns
  • Proficiency in Python, R, SQL, SAS, SAS macro, SAS STAT procedures


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.

Benefits Summary


Visit for benefits information.

Keywords: Wells Fargo, Irving , Quantitative Analytics Specialist 3 - Financial Crimes Model Development, Other , Irving, Texas

Click here to apply!

Didn't find what you're looking for? Search again!

I'm looking for
in category

Log In or Create An Account

Get the latest Texas jobs by following @recnetTX on Twitter!

Irving RSS job feeds