Vice President, Financial Model Audit – Model Risk

BNY•New York, NY

23h•$100,000 - $150,000•Onsite

About The Position

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’re seeking a future team member for the role of Vice President, Auditor to join our Model Risk Audit Team within Internal. This role is located in New York City

Requirements

Advanced degree (Masters or PhD) in Math, Statistics, Physics, Economics or other quantitative fields are required (PhD is preferred).
Strong quantitative and analytical background coupled with strong theoretical foundation and good communication skills preferred.
3+ years working experience in model development, model validation, or model audit in the risk area such as Market Risk, Credit Risk, Interest Rate Risk, Liquidity Risk, Financial Crime Compliance, Artificial Intelligence / Machine Learning, stress testing, and capital planning.
The position requires special skills (eg. mathematical, statistical, quantitative, economic, and business knowledge and modeling experience).
Proficient with programming languages used for model development and validation, such as Matlab, R, C++, Python, etc Additional core skill requirements include understanding of the applied and interpretation of analytics results for Audit, critical thinking and problem solving

Responsibilities

Performing high quality, risk-focused audit testing, in accordance with Internal Audit policies, methodologies, and standards in order to identify meaningful issues, risks and other exposures related to model risk in Finance’s Corporate Treasury functions, and Risk Management areas focusing on the Enterprise-wide management of Market Risk, Credit Risk, Interest Rate Risk, Liquidity Risk, Financial Crime Compliance, and Artificial Intelligence / Machine Learning.
Tests model development and model validation processes as per the Supervisory Guidance on Model Risk Management and the Bank’s Model Risk Management policies, standards, and procedures.
Operates as a team member or independently and has responsibility for specific procedures and results (i.e., head of a project relating to an audit, audit project, or model auditor). Ensures testing (or other tasks as applicable to a specialty) is adequately thorough and accurate to allow an evaluation of the adherence to company policies and procedures, audit methodologies, and all applicable regulations. Identifies existing and emerging risk/ control themes.
Prepare draft audit reports and follow-up of audit actions to ensure corrective actions have been appropriately implemented.
Learns new businesses, processes and regulations.
Work with other audit team members to mentor, guide and collaborate.
Work on projects of great complexity that involves significant understanding of the regulatory requirements, business models and processes for each assignment.
Maintain up to date knowledge of industry best practice and regulatory requirements.
Carry out other ad-hoc tasks and projects as directed by audit senior management.
Represent Internal Audit on projects and at management meetings.
Engages in Continuous Monitoring activities.

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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