BNY Mellon Careers

Group Manager, Model Risk

Wroclaw, Poland
Risk


Job Description

BNY Mellon Science represents the strategic centre of excellence for quantitative and analytical work focused on risk mitigation across BNY Mellon globally, delivering valuable insight and risk quantification across the firm. BNY Mellon Science has grown rapidly and today represents a highly motivated and engaged team of skilled professionals with expertise in financial industry practices and regulation demanding deep quantitative talent. The team works closely with colleagues across BNY Mellon to support the firm’s Capital Adequacy, Market Risk and Enterprise Risk modelling and data analytics; alongside quantitative support for the annual Comprehensive Capital Analysis and Review (CCAR) Stress Test. The resources within BNY Mellon Science are working towards supporting other innovative quantitative and analytical solutions for the wider firm as a part of their strategic objectives for 2018 and into the future.

Within Model Risk Management we are looking  for Model Risk Group Manager who  will be in charge of managing a corporate validation function, dedicated to a specific area of the business.  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 oversee execution of the enterprise standards for model  validation. The incumbent will be responsible for identifying and evaluating model risk and engaging model owners and business users to agree on possible controls.  The incumbent will manage validation and review schedules and issue tracking through the entire model lifecycle.  Incumbent must be able to provide intellectual leadership in terms of conducting cutting-edge research, identifying latest trends and developments in modeling, and recommending alternative solutions to analytically challenging problems. 

The incumbent may lead the work of analysts in one of five areas, each area responsible for a different type of modeling:

  1. Credit Risk Modeling
  2. Treasury Modeling
  3. Market Risk Modeling
  4. Pricing Modeling
  5. Forecasting

 

 

Responsibilities:

  • For a modeling area, creates validation and review schedules and ensure analyst resources are assigned to the project
  • Executes enterprise standards for model validation, by setting the scope of a validation effort for models across a modeling area.  This entails designing the tests and review activities necessary to evaluate a model or suite of models.
  • Evaluates 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.
  • Engages model owners and business users of models to agree on possible controls that have been identified as part of a validation effort by analysts.
  • Has authority to approve changes to existing models and initiations of new models.
  • Manages of a team of analysts to include performance management and coaching.  May manage financial resources/ budget for unit.

Qualifications

  • Master's Degree/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.
  • 5 years with Masters or 3-years with PhD required.  
  • Must have experience with complex quantitative modeling, numerical analysis, and computational methods using programming languages (such as C/C++, C#, Java, FORTRAN, MATLAB, SAS) as well as mathematical/statistical software packages. 
  • Must be extremely focused, detail oriented, results oriented and highly productive. 
  • Must have a proven track record of being able to efficiently and effectively conduct independent research, analyze problems, formulate and implement solutions, and produce quality results on time.
  • The candidate must have excellent scientific and technical documentation and presentation skills, assertiveness & influencing skills, and the skills to explain abstract theoretical concepts to a non-expert audience in easy-to-understand language

 

 

If you apply for this role this means you agree with the following statement:

 

Through my application for a role with BNY Mellon (Poland) sp. z.o.o. (the Company) I hereby authorize the Company to process my personal data for the purposes of recruitment. Furthermore I declare that I am aware of the voluntary submission of data and I am informed about the right to access the data and the right to correct it, pursuant to the Personal Data Protection Act of 29 August 1997 (Journal of Laws [Dz.U] No. 133, item 883)”. I authorise the Company to process my personal data for future recruitment processes.

Furthermore, I authorize BNY Mellon and its’ affiliates, Taleo (UK) Limited to process my personal data.

BNY Mellon and affiliates registration details.-

BNY Mellon (Poland) sp. z.o.o Registered office – Swobodna 3, 50-088 Wroclaw

The Bank of New York Mellon (International) Limited – 1 Canada Square, London, E14 5AL

The Bank of New York Mellon SA/NV – 46 Rue Montoyerstraat, B-1000 Brussels, Belgium

Taleo (UK) Limited Registered office - 78-586 Chiswick High Road, London W4 5RP, United Kingdom,

Please note that during the recruitment process you may be asked to provide further information and supporting documents. The information provided may be verified and reviewed, to the extent permitted by the law, as to their veracity and accuracy.



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: bnymellon.com/careers.

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 Employer.

Primary Location: Poland-Dolnoslaskie-Wroclaw
Job: Risk
Internal Jobcode: 85319
Organization: Risk-HR06016
Requisition Number: 1806045