[Hiring] Vice President, Model Risk Management @BNY Mellon

Role Description

The Bank of New York Mellon seeks Vice President, Model Risk Management II in Los Angeles, CA, to contribute to highly visible enterprise-wide model development function in the organization.

• Make estimates that are a key input to management decisions and are reported to Senior Management and the Board of Directors on a regular basis.
• Execute enterprise standards for model validation.
• Responsible for leading work to identify and evaluate model risk as well as proposed controls to manage that risk.
• Investigate the weaknesses of a framework and set the scope and design tests for a validation effort, appropriate to that framework.
• May work in one of five disciplines, each responsible for a different type of modeling:
  • Credit Risk Modeling
  • Treasury Modeling
  • Market Risk Modeling
  • Pricing Modeling
  • Forecasting
• Design the tests and review activities necessary to evaluate a model.
• Evaluate the strengths and weaknesses of a model's conceptual framework to identify situations where a model may become less useful.
• Review risks and formulate the proposed controls into a plan of action for management.
• Provide technical direction, accuracy, and soundness of quantitative methods in the assigned area.
• Remote work may be permitted within a commutable distance from the worksite.

Qualifications

• Master’s degree, or foreign equivalent, in Financial Mathematics, Finance, Business Analytics, Statistics, Econometrics, or a related field.
• Two (2) years of experience in the job offered or in a related quantitative occupation.

Requirements

• Performing quantitative modelling, numerical analysis, and computational methods using programming languages including C/C++, C#, Java, FORTRAN, MATLAB, SAS as well as mathematical or statistical software packages.
• Performing financial modeling techniques, including value-at-risk type of models, interest rate models, risk quantification and forecast models, stochastic calculus for model evaluation, and model risk identification.
• Using data summary and visualization, hypothesis testing, estimation, regressions, time series analysis, and machine learning.
• Conducting independent research, analyzing problems, developing numerical experimentation and testing, producing results, and assessing complex financial models including in-depth examination of model assumptions, methodologies, and strengths and weaknesses.

Benefits

• Base salary/range for this position is expected to be $129,500.00 - $179,000.00 per year at the commencement of employment.
• Base salary if hired will be determined on an individualized basis, including as to experience and market location.
• Part of the BNY total compensation package, which may also include commission earnings, discretionary bonuses, short and long-term incentive packages, and Company-sponsored benefit programs.

Company Description

BNY is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals with Disabilities/Protected Veterans.