Wells Fargo Group Placement
I recently accepted an internship (Summer2022) offer from Wells Fargo and was given the option to rank which group I would like to intern in .
These are the groups:
- Model Risk
- CRO Consumer Lending
- Independent Testing & Validation
- CRO Consumer & Small Business Banking
- Wealth & Investment Management CRO
- Strategic Enterprise Risk Management
- Credit Risk
- CRO Finance
- Operational Risk Management
Which group would you guys say would give me the best experience and help me in the long run (I want to get into IB at some point)
Currently a Junior.
Thank You for your response!!!
Credit Risk. This will be looking at counterparts of some sort. If it is credit risk for lending to businesses, then you will be learning skills that could transfer to corporate or certain parts of investment banking. Model risk may be good if it is quantitative, but unclear what that is. CRO finance could be ok if you are looking at the bank balance sheet. Anything else that is just general rise stuff will be all about rules and regulations and won't be particularly useful.
Thank You for the advice . These are the descriptions for each group you mentioned.
Credit Risk Management - 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.
Corporate Model Risk Management-independently over sees the management of model risk exposures(includingmonitoring design or coding errors and appropriate model usage) and the quality of model risk management practices.
Finance Risk Management-brings together enterprise functions that drive WellsFargo's financial management,including accounting and control, financial planning and analysis, line of business finance, asset-liability management, treasury, tax management, and the company's investment portfolios. Finance also informs shareholders, regulators, taxing authorities, employees, and leaders of the company's financial performance through earnings releases, investor meetings and conferences, and meetings with regulators and credit rating agencies, following appropriate reporting guidelines
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