Vice President, Model Risk Management II
1 week ago
Vice President II- Model Risk Management (Machine Learning AI)
At BNY, our culture empowers you to grow and succeed. As a leading global financial services company at the center of the world’s financial system we touch nearly 20% of the world’s investible assets. Every day around the globe, our 50,000+ employees bring the power of their perspective to the table to create solutions with our clients that benefit businesses, communities and people everywhere.
We continue to be a leader in the industry, awarded as a top home for innovators and for creating an inclusive workplace. Through our unique ideas and talents, together we help make money work for the world. This is what #LifeAtBNY is all about.
We’re seeking future team members for our Model Risk Management with roles located in Pune and Chennai, India in hybrid/remote positions.
In this role, you’ll make an impact in the following ways:
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 and comparison 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 outcomes. 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
- Good communication 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, our culture speaks for itself. Here’s a few of our awards:
- America’s Most Innovative Companies, Fortune, 2024
- World’s Most Admired Companies, Fortune 2024
- Human Rights Campaign Foundation, Corporate Equality Index, 100% score, 2023-2024
- Best Places to Work for Disability Inclusion, Disability: IN – 100% score, 2023-2024
- “Most Just Companies”, Just Capital and CNBC, 2024
- Dow Jones Sustainability Indices, Top performing company for Sustainability, 2024
- Bloomberg’s Gender Equality Index (GEI), 2023
Our Benefits and Rewards:
BNY offers highly competitive compensation, 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, including paid volunteer time, that can support you and your family through moments that matter.
BNY is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals With Disabilities/Protected Veterans.
Our ambition is to build the best global team – one that is representative and inclusive of the diverse talent, clients and communities we work with and serve – and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.
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