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 a future team member for the role of Vice President, Model Risk Management II to join our Model Risk team. This role is located in Pittsburgh, PA in a Hybrid work environment.
Title in the contract: Vice President, Model Risk Management II. This role is in Wroclaw (HYBRID- 2 days from home)
About the team:The Vice President, 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.
This role may work in one of five disciplines, each responsible for a different type of modelling:
1) Credit Risk Modelling, 2) Treasury Modelling, 3) Market Risk Modelling, 4) Pricing Modelling, 5) Forecasting
In this role, you’ll make an impact in the following ways:
- Execute enterprise standards for model validation, by setting the scope of a validation effort. This entails designing the tests and review activities necessary to evaluate a model.
- Responsible for evaluating the strengths and weaknesses of a model's conceptual framework to identify situations where a model may become less useful.
- Reviews accuracy of reports and calculations performed by less experienced colleagues.
- Responsible for the technical direction, accuracy, and soundness of quantitative methods in the assigned area. Decisions and assumptions recommended by the incumbent have significant impact on the financial and risk position of the Bank or legal entity supported.
To be successful in this role, we’re seeking the following:
- Master's Degree/PhD in a quantitative discipline, including engineering, mathematics, physics, statistics, econometrics.
- 2-5 years of experience. The candidate must have a superb quantitative and analytical background with a solid theoretical foundation coupled with strong programming, documentation, and communications skills.
- Must have experience with complex quantitative modeling, numerical analysis, and computational methods using programming languages (such as Python, R / R-Studio, C/C++, C#, Java, FORTRAN, MATLAB, SAS) as well as mathematical/statistical software packages.
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.
