Vice President, Model Risk Management II
2 weeks ago
Responsibilities
:
The Vice president II, Model Risk will contribute to highly visible enterprise-wide model development functions in the organization. The models 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. The role will be to execute enterprise standards for model validation. The incumbent will be responsible for leading work to identify and evaluate model risk as well as proposing controls to manage that risk. This will entail investigating the weaknesses of a framework and setting the scope and designing tests for a validation effort, appropriate to that framework. With large and global operations, model risk underlies much of what we do. The Model Risk Management Group (MRMG) oversees all of the bank's modelling. It sets standards for development and approves all models before they are used in the firm. Through intense interrogation of methodologies andparison with its own models, the team aims to root out how each model will fail and ensure controls are in place.
As a Model Risk Specialist, you will be responsible for reviewing machine learning, artificial intelligence approaches, as well as traditional models. This requires challenging the models built by the model development team and designing and executing tests for conceptual framework and oues. The role may require building benchmarks (shadow frameworks) that run alongside those in production, allowing MRMG to monitor performance in real time. You will be guided by more senior colleagues that help establish the validation scope. The work is highly independent and requires responsibility and accountability for accuracy and quality.
Required Qualifications: Master's Degree/PhD in a quantitative discipline (engineering or mathematics or physics or statistics or econometrics or data science) Minimum 5-8 yearscore tech skills required . The candidate must have a superb quantitative and analytical background with a solid theoretical foundation Understanding of design, development, and implementation of machine learning, artificial intelligence and traditional models Modelling experience required Programming skills in one of those languages: Python, R, Matlab or similar Goodmunication skills. The candidate should have a strong interest in financial engineering or products of financial markets or statistics or econometric modelling or data science or machine learning. Preferred Qualifications: Prior experience in model validation Machine Learning AI. Experience in Credit Risk Modelling/ Treasury Modelling/ Market Risk Modelling/ Pricing Modelling/ Forecasting Exposure to CCAR/CECL/IFRS9 We look for individuals who are extremely focused, detail-oriented, results-oriented and highly productive. A proven track record of being able to efficiently and effectively: conduct independent research, analyze problems, formulate and implement solutions, and produce quality results on time. Prior experience in financial services. At BNY Mellon, our inclusive culture speaks for itself. Here's a few of our awards: Fortune World's Most Admiredpanies & Top 20 for Diversity and Inclusion Bloomberg's Gender Equality Index (GEI) Human Rights Campaign Foundation, 100% score Corporate Equality Index Best Places to Work for Disability Inclusion , Disability: IN - 100% score 100 Best Workplaces for Innovators, Fastpany CDP's Climate Change 'A List' Our Benefits:
BNY Mellon offers highlypetitivepensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life's journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves that can support you and your family through moments that matter.
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.
Employer Description:
For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments and safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admiredpanies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with amitment to doing what is right that continues to set us apart. Make your mark: bnymellon/careers.
Job ID 51003
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