Derived from job-description analysis by Serendipath's career intelligence engine.
Original posting from Federal Reserve System
Lead Specialist Examiner, LIS Credit Risk
The Wells Fargo & Co. (WFC) Dedicated Supervisory Team (DST) operates as part of the Federal Reserve's GSIB supervisory program. The GSIB program is designed to combine firm-specific, safety-and-soundness perspectives with a broader view of the industry to anticipate and mitigate threats to financial stability. A core component of the GSIB Program is the Capital Program which consists of core assessments of all areas of financial risk including wholesale credit risk, retail credit risk, and counterparty credit risk. The Capital Program is conducted through a range of supervisory activities, including firm-specific examinations, continuous monitoring events, coordinated interagency reviews, and supervisory issues follow-up.
The Lead Specialist Examiner, LIS Credit Risk position is an excellent opportunity to join the WFC DST on the Capital team! This role is responsible for leading ongoing monitoring activities and examinations that evaluate the effectiveness of credit risk management practices at WFC, including the remediation of credit and broader financial risk management weaknesses identified.
As our Lead Specialist Examiner you will assess and monitor credit risk holistically across wholesale credit, retail credit, and counterparty credit, and any increases in risk appetite and growth in wholesale and retail portfolios and business lines. You will also be considered a subject matter expert in this risk domain and will be responsible for the identification of material financial risk as outlined in the Statement of Supervisory Operating Principles (SSOP).
As a member of the DST, you will assess inherent risks, and associated risk management programs, through participation in on-site examinations and regular monitoring of business activities. The Lead Risk Specialist will work closely with DST and system colleagues to support GSIB supervisory priorities. As such, the successful candidate will be expected to work collaboratively within and across teams, collectively generating new ideas, problem-solving, sharing expertise, and actively supporting others to achieve goals.
Essential Responsibilities:
- Lead or participate in supervisory activities to evaluate the quality and effectiveness of WFC's credit risk management practices related to wholesale credit, retail credit, counterparty credit and attendant credit models in relation to the inherent risks of WFC and supervisory expectations.
- Evaluate the effectiveness of WFC's credit risk framework across WFC's three lines of defense.
- Lead or participate in the development and execution of a supervisory strategy across a range of credit-related activities at the firm.
- Review management and risk reporting; conduct recurring analysis to guide supervisory assessments across the DST as well as the formulation of supervisory priorities.
- Plan and lead recurring meetings with firm senior management to understand key developments and identify emerging risks.
- Formulate comprehensive assessments covering credit risks; present complex, well supported supervisory findings and messages clearly and concisely to Federal Reserve and WFC senior management.
- Serve as a subject matter expert in credit and attendant financial and model risk and maintain a current understanding of industry trends, regulatory changes, and industry practices related to credit risk areas of expertise.
- Build and lead relationships with external collaborators, including Federal Reserve colleagues, staff at other supervisory agencies, and firm senior management. At Lead level you will also:
- Coordinate efforts with other regulators (e.g. OCC, FDIC, SEC) and drive these relationships and ensure sufficient coverage of credit risk holistically across the firm.
- As available, lead or participate at a System level through committees and/or initiatives in areas aligned with subject matter expertise and/or team objectives.
- Leverage broad and deep subject matter and supervisory expertise and supervisory experience, by contributing to local and System efforts related to information sharing, training, and thought leadership.
- As needed, serve in a leadership role on the team, participating in mentoring and coaching, including reviewing the work products of more junior staff.
Requirements:
- Bachelor's degree in business, finance, or related fields of study, or equivalent work experience is required; advanced degree is preferred but not required.
- Knowledge of and experience evaluating credit risks facing complex financial institutions and prudent practices for managing those risks, using applicable regulatory guidance.
- Typically requires ten or more years of experience in credit risk management, preferably in the context of large banking supervision, or comparable experience in banking, financial services, or related industries (e.g., consulting).
- Working knowledge of large banking business lines/products, organizational structures, operations,
Source: Federal Reserve System careers