BNY Mellon Careers

Economic Capital Analyst

Pittsburgh, Pennsylvania

Job Description

The Basel Independent Verification Group plays a critical role in the assessment of BNY Mellon’s Basel Framework. The successful candidate will have broad and deep understanding of the Federal Reserve’s BCC 13-3 Guidance for Independent Verification of a Banking Organization's Advanced Approaches System, and the related U.S. Final Rule to which it applies. The candidate will also demonstrate rich experience with Advanced Internal Ratings-Based (AIRB) systems and in working with framework component owners, senior management, internal audit, and regulators. The incumbent is responsible for executing rigorous verification and testing of Basel-related processes and controls. Independently assess, through verification and testing, the internal control framework to ensure that all internal systems supporting compliance with the rule are properly designed, documented, and working as intended.  
  • Basel Rule Compliance: Assess compliance with the Federal Reserve Board's advanced approaches risk-based capital rule. Document testing results in BNY Mellon's online Basel Independent Verification work paper tool, and draft findings for reporting to management.
  • Internal Control Evaluation: Evaluate the design of controls over the Basel reporting process to ascertain whether control objectives related to accuracy, completeness, validity, and timeliness are adequately addressed. Identify control gaps related to the Basel framework components through verification and testing. Identify risks that could potentially cause a material mistatement
  • Subject Matter Expertise:  On a constant basis, the Senior Basel verification analyst will be responsible for staying abreast of current developments and relgulatory pronoucements related to Basel filings.  Become a SME related to the Basel process.
  • Key Relationships:  The Senior Basel verification analyst must build and maintain key working relationship with professionals including but not limited to Finance and Regulatory Reporting personnel, Basel data providers, model and process owners, Credit Risk Modeling team members, the Head of Basel Governance, the Head of Office of Enterprise Capital Management, Chief Risk Officer, SOX, and Internal Audit.
  This individual must have a strong understanding of the Capital Rules and Basel reporting requirements, and regulatory reporting rules and practices.  Experience in assessing process controls and methods, including leading practices for reporting procedures and controls.  The individual must also have a broad understanding of the businesses within and products offered by the Company that contribute to Basel filings. These businesses include Finance, Treasury, Credit, Market Risk, and Operational Risk. Products include securitization structures, FX, derivatives, etc.  This individual must have a significant understanding of audit techniques and processes used to develop and review high quality work papers.  Excellent knowledge of banking products and their reporting requirements.  Advanced knowledge of business processes and related controls as they pertain to the monitoring of controls in order to reduce the likelihood of material errors.  S/he must understand the regulatory environment and the implications of changes enacted.  S/he must have an excellent understanding of BNYM’s business model. S/he must be able to work with management to identify potential remediation plans for issues identified during testing, establish acceptable remediation plans and timelines, and monitor to ensure management completes remediation within agreed upon timeframes.      


Minimum of 5-7 years of professional experience. BS of BA required but an MBA is strongly preferred. Knowledge of Microsoft Office packages, in particular very strong Excel skills. Very strong analytical skills, strong project-working skills, (i.e. ability to manage tasks to a schedule), willingness to work long hours when required and ability to work within a team. Strong communication skills, in particular the ability to explain complex Economic capital concepts to a non-expert audience in easy to-understand language.

For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments & safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark:

Risk and Compliance provide risk and compliance services across all BNY Mellon businesses. Organizationally, Risk and Compliance includes the following groups: Risk Management, Compliance, Global Corporate Security, Information Risk Management and Global Business Continuity. Risk Management oversees and delivers risk services and ensures new business risks are reviewed and approved. Risk Management is organized through Chief Risk Offices for each core business and critical operation. Risk managers provide shared support to BNY Mellon for operational risk services for Global Corporate Trust, Depositary Receipts, Treasury Services and Global Operations in EMEA. Compliance helps ensure BNY Mellon's businesses maintain appropriate processes to comply with applicable laws, regulations, BNY Mellon policies and ethics. This is accomplished through business- and business partner-specific teams of professionals, under centralized global management.

BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer.
Minorities/Females/Individuals With Disabilities/Protected Veterans.

Primary Location: United States-Pennsylvania-Pittsburgh
Internal Jobcode: 30263
Job: Risk
Organization: Risk-HR06016
Requisition Number: 1715433