Vice President, Model Risk Management
About The Position
Vice President, 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 VICE PRESIDENT to join our MODEL RISK MANAGEMENT team. This role is located in NEW YORK. In this role, you may work in one of five disciplines, each responsible for a different type of modelling: 1) Credit Risk Modeling, 2) Treasury Modeling, 3) Market Risk Modeling, 4) Pricing Modeling, 5) Forecasting, 6) AI
Requirements
- Master's Degree or PhD in a quantitative discipline, including engineering, mathematics, physics, statistics, econometrics.
- The candidate must have a superb quantitative and analytical background with a solid theoretical foundation coupled with strong programming, documentation, and communications skills.
- Minimum 2 years (2 - 5 preferred) of modelling experience in financial services.
- Must have experience with complex quantitative modelling, numerical analysis, and computational methods using programming languages (such as C/C++, C#, Java, FORTRAN, MATLAB, SAS) as well as mathematical/statistical software packages.
Responsibilities
- 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.
- Evaluate 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.
- Complete required training, disclosures, attestations, and certifications within deadlines.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Number of Employees
5,001-10,000 employees
