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Featured Employers
Quantitative Analytics Spec 3 - Front Office Quant
Company: Wells Fargo
Location: Mclean, VA
Employment Type: Full Time
Date Posted: 05/30/2020
Expire Date: 07/27/2020
Job Categories: Banking, Computers, Software, Finance/Economics, Financial Services, Information Technology, Installation, Maintenance, and Repair, Insurance, Military, Executive Management, Quality Control, Research & Development
Job Description
Quantitative Analytics Spec 3 - Front Office Quant
Job Description

Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message.  In order to receive text message invitations, your profile must include a mobile phone number designated as 'Personal Cell' or 'Cellular' in the contact information of your application.

At Wells Fargo, we want to satisfy our customers' financial needs and help them succeed financially. We're looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you'll feel valued and inspired to contribute your unique skills and experience.

Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

Our Capital Markets team manages the interest rate and operational risks associated with the origination, sale and servicing of mortgage loans, and provides liquidity for the mortgage assets originated by Wells Fargo. All quantitative modeling related to market and interest rate risk on the bank's mortgage products is concentrated in the Mortgage Modeling Center of Excellence. This group does not only support the consumer banking mortgage activities, but also the bank's trading activities and investment portfolio positions in mortgage products.

The quantitative modeler will be in charge of the development of interest rate and other models to support the pricing of mortgage products, ongoing monitoring and research related to mortgage model performance and the all end implementation and testing of and research into the group's internal and vendor pricing models. Depending on experience and background, the candidate may focus on a subset of these areas. A successful candidate must have strong expertise in interest rate products modeling and be familiar with Residential Mortgage-Backed Securities (RMBS) valuation, OAS framework and risk analysis.

Key duties and responsibilities of this position include, but may not be limited to:

  • Working independently on development, testing, and implementation of OAS valuation, Risk Management and Statistical models for Mortgage Servicing Rights, Mortgage Backed Securities and Vanilla and Exotic Interest Rate Derivatives using Polypaths and C++
  • dvise on or participate in the discussion related to analytical strategies, performing analytical support and/or modeling and offering insights regarding a wide array of business initiatives
  • Conducting ongoing maintenance and research on models for risk management of mortgage and fixed-income products
  • Developing model performance metrics like statistical back tests or P&L explanation analysis
  • Handle and evaluate extensive varied database from multiple internal and external sources
  • Work with traders and portfolio managers to define and prioritize business requirements
  • Translate business requirements to practical and well defined research projects

Required Qualifications

  • 2+ years of experience in an advanced scientific or mathematical field
  • A master's degree or higher in a quantitative field such as mathematics, statistics, engineering, physics, economics, or computer science

Other Desired Qualifications
  • 2+ years of mortgage or fixed income experience
  • Solid understanding of financial mathematics and models including, OAS framework, Monte Carlo simulation, LMM model, (exotic) interest rate derivatives models and mortgage analytics
  • Graduate degree in Quantitative Finance, Computer Science or Math
  • Passion for Math and Algorithms
  • Experience in more than one programming language (Python, C++, Java, C#, R)
  • Experience in a mortgage banking environment
  • Understanding of interest rate derivatives models and mortgage analytics
  • Understanding of data structures, algorithms and design patterns
  • Knowledge in Software Lifecycle Management (test driven development, continuous integration)
  • Ability to thrive in a deadline-oriented environment with a demanding workload
  • Knowledge of Business Intelligence tools (Tableau, Datawatch)
  • Ability to communicate across multiple audiences (Technology, Quants, Senior Management)
  • An impeccable reputation for integrity, accuracy, consistency, big picture orientation and business acumen

Job Expectations

  • Ability to travel up to 10% of the time
  • This position requires compliance with all mortgage regulatory requirements and Wells Fargo's compliance policies related to these requirements including acceptable background check investigation results. Successful candidates must also meet ongoing regulatory requirements including additional screening and required reporting of certain incidents.


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.

Contact Information
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