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Head of Consumer Credit Loss Forecasting

Company: Wells Fargo
Location: Saint Louis
Posted on: November 19, 2021

Job Description:

Job Description About Wells Fargo Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies and small businesses in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 30 on Fortune's 2020 rankings of America's largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy. Corporate Risk Corporate Risk helps all Wells Fargo businesses identify and manage risk. The team focuses on several key risk types, including conduct, credit, financial crimes, information security, interest rate, liquidity, market, model, operational, regulatory compliance, reputation, strategic, and technology risk. The group provides leadership, enhances communications, assists with problem identification and solutions, and shares best practices. In addition, the group provides an enterprise-wide view of risk, assists management and our Board of Directors in identifying and monitoring risks that may affect multiple lines of business, and takes appropriate action when business activities exceed the risk tolerance of the company. Credit Risk Credit Risk independently oversees the management of credit risk exposures (including monitoring and reporting on aggregate credit exposures across groups, legal entities, geographies, and jurisdictions) and the quality of credit risk management practices across the company. This oversight extends to all phases of a loan's life cycle, including origination, underwriting, risk analysis, approval, documentation, boarding, monitoring, loss recognition, modification, and collection activities. Credit Risk develops, maintains, and ensures adherence to companywide credit risk frameworks, policies, and procedures that are aligned with the Board-approved risk appetite. The group also partners closely with credit officers and business leaders in the front line. Consumer Lending Wells Fargo's Consumer Lending businesses empower millions of customers to achieve their dreams every day. Whether it's buying a home, purchasing a car, funding a significant purchase, or making important daily credit card purchases, Consumer Lending provides important credit products and services that help our customers succeed. The group includes Home Lending; Auto; Cards, Retail and Merchant Services; Personal Lending; Consumer Lending Control; and Consumer Lending Shared Services. The Consumer Lending team partners with other businesses across Wells Fargo to create and deliver transformational experiences that help customers gain access to credit. The vision for the Consumer Lending business is to leverage technology and data to make it simple for customers to easily access credit when and where they need it. Consumer Lending serves customers across the country through our distribution network of more than 5,300 retail banking branches and Home Lending offices, as well as online and digital channels. Position Overview This Head of Consumer Credit Loss Forecasting will report to the Head of Consumer Credit Risk and will be responsible for leading a team that provides both oversight as well as centralized ownership, in certain cases, for consumer credit loss forecasting. They will partner closely with Finance, CROs, Modeling and Risk Capital teams. Forecasts include: routine business line forecasts, stress testing, CCAR, CECL, MYFA, climate, and ad hoc forecasts as necessary. These forecasts have high visibility, which may include interaction with CFO, CRO, CCO, LOB CEOs, GCROs, and LOB CROs, and other leaders. They will lead a team in accomplishing overall strategic priorities and ensuring that Credit provides senior management with an independent perspective of the level of credit to which the business is exposed across all business lines. They will lead this team with integrity and create an environment where team members feel included, valued, and supported to do work that energizes them. Specific responsibilities include: * Provide coordination across various functions to optimize the forecast process and make it efficient. * Aggregate the forecasts across the various products into a Consumer Lending, as well as, consumer-level forecast and ensure its accuracy. * Improve the quality of loss forecast reporting and "tell the story" each time. * Develop a deep understanding of business and loss drivers, and maintain active lists of risks and opportunities. * Oversee sensitivity analyses that provide bounds around the current forecast view. * Create climate risk forecasting capabilities for consumer credit products. * Review all CAP and NBI forecasts or strategic plan-related forecasts to ensure their accuracy. The Candidate Leadership, integrity, and credibility will be determining factors in selection. Successful candidates will be articulate and possess a demonstrated leadership capability; they will be impressive in their inter-personal effectiveness and with regard to their accomplishments. This role requires leaders with strong relationship management, influencing, vision, and execution skills. A key differentiator will be the ability to understand and operate successfully in a complex, heavily matrixed corporate environment. This role requires a sense of urgency, passion for results, and personal accountability for achievement. Required Qualifications * 10+ years of risk reporting experience, risk analytics experience, or a combination of both * 7+ years of management experience, in a risk environment Other Desired Qualifications * Extensive experience with loss forecasting processes for consumer loan products. * Deep knowledge of related loss forecasting processes and requirements, including CECL, CCAR/MYFA, and use of loss forecasting models. * Demonstrated success driving initiatives to include: continuous improvement and efficiency, including the ability to manage and prioritize potentially competing objectives to achieve optimal customer, shareholder, and/or employee outcomes. * Proven communication skills with the ability to influence, develop, partner with, and maintain collaborative relations at all levels within the organization and externally with customers, regulators, partners, and communities. * Proven experience building, leading, and engaging high-performing, diverse, and inclusive teams across a geographically dispersed organization. Evidence of ensuring team has the right capabilities and number of resources. * Demonstrated ability to operate independently and effectively build relationships within a matrixed environment to influence outcomes both within the business and Independent Risk Management. * Results driven approach to work with a demonstrated ability to meet stringent deadlines. * Capable of working under great pressure with equanimity to manage a considerable volume of information and priorities. * Strong analytical skills with high attention to detail and accuracy. * Ability to manage and prioritize multiple initiatives simultaneously. * Ability to apply strategic and critical thinking in describing multiple risks into a single risk landscape. * Strong organizational, multi-tasking, and prioritizing skills. * Strong educational credentials with an M.B.A. or Master's degree, preferred. * Advanced Microsoft Office skills. Disclaimer 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.

Keywords: Wells Fargo, St. Louis , Head of Consumer Credit Loss Forecasting, Accounting, Auditing , Saint Louis, Missouri

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