About this role:
APAC Independent Risk Management group is responsible for the risk governance, leadership, and oversight of all activities in the region, ensuring compliance with established risk programs and policies. The group is seeking a Senior Market Risk Specialist for its APAC Wholesale Counterparty Credit Risk team, responsible for underwriting and risk managing a portfolio of non-bank financial institutions (NBFIs) that are active in capital markets trading with the various affiliates of Wells Fargo. Wholesale Counterparty Credit Risk (WCCR), a unit of Independent Risk Management (IRM) within Market and Counterparty Risk Management (MCRM), is responsible for underwriting counterparty credit limits for certain institutional client types - mostly non-bank financial institutions. The role will focus in particular on credit analysis of counterparties in APAC such as insurance companies, broker/dealers, and asset managers.
In this role, you will:
- Underwrite credit and approve traded product limits for counterparties in APAC which are not covered by any other line of business. Counterparty types include Hedge Funds, Asset Managers, Broker/Dealers and Insurance Companies.
- Preparation of credit packages and annual reviews;
- Work with multiple sales/trading desks to understand the business and risks being undertaken with these counterparties;
- Performing ongoing monitoring of counterparty quality and exposures including investigating trade excesses and exposure variations; limit increases; quarterly certification of existing ratings.
- Conduct due diligence calls
- Negotiate and providing guidance in the negotiation of ISDA/CSAs, GMRAs/MRAs
- Take responsibility for developing region specific counterparty risk reports
- Daily monitoring of counterparty risk limits
- 4+ years of experience in one or a combination of the following: trading, desk analyst, Capital Markets, market risk, interest rate risk or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
- University Degree
- At least 5 plus years of experience in credit underwriting/analysis
- Experience in dealing with traded products including derivatives, financing trades and structures
- Experience negotiating legal documentation (ISDAs/CSAs, MSFTAs, GMRAs/ MRAs)
- Strong Microsoft Office skills – Excel/PowerPoint/Word
- Strong verbal and written communication skills in English
- Ability to partner with a wide range of colleagues including sales, trading, legal, operations
- Strong analytical and process skills
- Ability to write, organize, and present information in a clear and understandable format to a wide range of audiences
- Ability to multi-task and work on a variety of time-sensitive tasks / meet deadlines
- Ability to read Chinese or Japanese is a plus
- Prior capital markets risk experience in a global financial institution
Posting End Date:28 Mar 2024
*Job posting may come down early due to volume of applicants.
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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.
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