About this role
Wells Fargo is seeking talent to join the Summer Internship, Early Careers - Quantitative Analytics (PhD) Program. Learn more about the career areas and lines of business at wellsfargojobs.com
The internship program provides participants with a ten-week overview of Wells Fargo’s company operations, business strategies, and prepare them to develop or validate various quantitative models. The program is designed to provide graduate students with a blend of business and professional developmental training opportunities that incorporates real-world experiences and prepares you for a career at Wells Fargo. The internship program is a pipeline program where successful interns will receive an offer to return the following year for a second internship or full-time fellow program.
There are two tracks:
- The Capital Markets track deals with mathematical models for pricing, hedging and risking complex financial instruments. Wells Fargo trading portfolios include products in all traded asset classes such as credit, commodity, Equity, FX, Rate, Mortgages, and Asset-Backed Finance.
- The Risk Analytics & Decision Science track deals with statistical, econometric, and machine learning/AI models for a variety of applications, including loss and revenue forecasting, credit decisions, financial crimes, fair lending, operational risks, and analysis of unstructured data such as text and audio.
Placement group includes:
- Artificial Intelligence Machine Learning Model Development
- Traded Products Model Development
- Risk Modeling Group
- Market and Counterparty Risk Analytics
- Mortgage Model Development
- Corporate Model Risk
- Commercial Banking Model Development
- Consumer Modeling
- Wealth and Investment Management Modeling
In this role you will:
- Use Python, R, C++, SAS, SQL or other programming languages as well as mathematical/statistical packages for model development and validation (risk assessment)
- Perform mathematical model development and validation under the direction of experienced team members
- Produce required documentation to evidence model development or validation
- Understand business needs and provide possible solutions through clear verbal and written communications to management and fellow team members
- Stay up to speed on industry challenges and new and innovative modeling techniques used across Wells Fargo to solve business problems or enhance business capabilities.
- Participate in model related projects for varying purposes, methodologies and relevant lines of business
Program Dates: June - August 2024 (10 weeks, 40 hours per week)
- 6+ months of work experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
- Enrolled in a PhD program in: Statistics, Applied or Computational Mathematics, Computer Science, Economics, Physics, Quantitative Finance, Operations Research, Data Science, Engineering or related quantitative field or a related quantitative field
- Excellent computer programing skills and use of statistical software packages such as Python, R, SAS, SQL, Spark, Java, and C++
- Excellent verbal, written, and interpersonal communication skills
- For the Capital Markets Track : Experience and demonstrated knowledge in mathematical and numerical methods including Monte Carlo methods, differential equations, linear algebra, applied probability, and statistics
- For the Risk Analytics & Decision Science Track : Experience and demonstrated first-hand knowledge in a number of these areas: data analysis, statistical modeling, machine learning/AI models, data management, and computing
Program Location: Charlotte, NC; Additional locations may be added based on business needs.
Based on the volume of applications received, this job posting may be removed prior to the indicated close date. If you do not apply prior to the closing of this posting, we encourage you to apply for other opportunities with Wells Fargo. After submitting your application, please monitor your e-mail for future communications.
We Value Diversity
At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.