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Credit Underwriter NBFI (Counterparty Credit Risk)

About this role:

Join our dynamic EMEA Independent Risk Management group and contribute to the success of a rapidly growing global bank with an award-winning culture. As a Senior Market Risk Specialist in our EMEA Wholesale Counterparty Credit Risk team, you'll play a pivotal role in underwriting and managing the risk of a diverse portfolio of non-bank financial institutions engaged in capital markets trading with Wells Fargo affiliates.

In the heart of Wholesale Counterparty Credit Risk (WCCR), a key unit within Independent Risk Management, your focus will be on assessing credit for institutional clients in EMEA, including insurance companies, hedge funds, private equity sponsors, broker/dealers, pension funds, and asset managers. Collaborate with various business lines to drive our product growth strategy and be part of a team dedicated to maintaining robust risk governance and ensuring compliance with established programs and policies. Elevate your career with us – join a bank that's not only growing but also recognized for its exceptional workplace culture.

In this role, you will:

  • Evaluate counterparty credit risk based on an understanding of the clients’ risk profiles encompassing quantitative and qualitative measures of credit worthiness. Client types comprise Non-Bank Financial Institutions, such as insurance companies, hedge funds, private equity sponsors, broker/dealers, pension funds, and asset managers.
  • Prepare and submit credit requests, including relevant trading limits, to support counterparty trading relationships in EMEA.
  • Preparing written counterparty annual reviews/transactional credit proposals.
  • Spearhead independent portfolio and client due diligence meetings.
  • Negotiate and provide guidance in the negotiation of ISDA/CSAs, GMRAs/MRAs, MSFTA and other legal documentation.
  • Monitor, identify and escalate limit overages, documentation trigger breaches, margin disputes and missed calls
  • Escalate any counterparties/issues of concern as necessary.

Required Qualifications:

  • Experience in Capital Markets, trading or interest rate risk, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
  • Prior experience in credit underwriting/analysis with a focus on NBFIs.
  • 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.
  • Ability to partner with a wide range of colleagues including sales, trading, legal, operations.
  • Strong analytical and process skills.
  • Excellent communication skills – the 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.
  • University Degree in a relevant subject

Desired Qualifications:

  • Prior capital markets risk experience in a global financial institution.
  • An industry body qualification such as CFA, FRM, CAIA.

Posting End Date: 

28 May 2024

*Job posting may come down early due to volume of applicants.

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, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.

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.

Applicants with Disabilities

To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo.

Drug and Alcohol Policy


Wells Fargo maintains a drug free workplace.  Please see our Drug and Alcohol Policy to learn more.

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