Director, Model Risk Management Manager
About The Position
Director, Model Risk Validation At BNY, our culture allows us to run our company better and enables employees’ growth and success. As a leading global financial services company at the heart of the global financial system, we influence nearly 20% of the world’s investible assets. Every day, our teams harness cutting-edge AI and breakthrough technologies to collaborate with clients, driving transformative solutions that redefine industries and uplift communities worldwide. Recognized as a top destination for innovators, BNY is where bold ideas meet advanced technology and exceptional talent. Together, we power the future of finance – and this is what #LifeAtBNY is all about. Join us and be part of something extraordinary. We are seeking a future team member for the role of DIRECTOR to join our MODEL RISK MANAGEMENT team. This role is located in NEW YORK. In this role, you will lead the organization’s enterprise-wide approach to model validation and risk oversight. Lead, mentor, and grow teams responsible for model validation, risk assessment, and compliance with regulatory requirements. Oversee end-to-end model validation activities for high-impact, high-risk models (Credit Risk, Treasury Risk, Market Risk, Pricing, Forecasting, Capital Stress Testing, AI, and Financial Crimes) Approve validation methodologies including conceptual soundness, outcome analysis, benchmarking, and implementation verification. Monitor model performance metrics, remediation progress, and ongoing validation requirements. Serve as a key point of contact for regulators during exams and inquiries. Collaborate with the heads of Modeling, Data Science, Finance, Risk, and Technology to ensure alignment with BNY’s risk management framework and regulatory expectations. Behave ethically and adhere to BNY’s standards, including the Code of Conduct and applicable policies. Serve as a role model in creating and sustaining a strong risk culture and support the development of team members.
Requirements
- Master's Degree or PhD in a quantitative discipline, including engineering, mathematics, physics, statistics, econometrics.
- Strong understanding of regulatory guidance, such as SR 11-7, CCAR, Basel, CECL, etc.
- Experience leading and developing high-performing quantitative teams.
- Possess a strong analytical background with a solid theoretical foundation coupled with advanced programming, documentation, and communications skills.
- Minimum 10 years of responsible experience in model risk, model validation, or quantitative risk management, including several years in leadership roles.
- Demonstrated ability to interact with senior executives, auditors, and regulatory agencies.
- Proficiency in analytical tools (C/C++, C#, Java, FORTRAN, MATLAB, SAS) as well as mathematical/statistical software packages.
Responsibilities
- Lead the organization’s enterprise-wide approach to model validation and risk oversight.
- Lead, mentor, and grow teams responsible for model validation, risk assessment, and compliance with regulatory requirements.
- Oversee end-to-end model validation activities for high-impact, high-risk models (Credit Risk, Treasury Risk, Market Risk, Pricing, Forecasting, Capital Stress Testing, AI, and Financial Crimes)
- Approve validation methodologies including conceptual soundness, outcome analysis, benchmarking, and implementation verification.
- Monitor model performance metrics, remediation progress, and ongoing validation requirements.
- Serve as a key point of contact for regulators during exams and inquiries.
- Collaborate with the heads of Modeling, Data Science, Finance, Risk, and Technology to ensure alignment with BNY’s risk management framework and regulatory expectations.
- Behave ethically and adhere to BNY’s standards, including the Code of Conduct and applicable policies.
- Serve as a role model in creating and sustaining a strong risk culture and support the development of team members.
Benefits
- 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.
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What This Job Offers
Job Type
Full-time
Career Level
Director
