BNY Mellon Careers

Senior Specialist, Model Development – Market Risk Team

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 Market Risk Modeling Group we are looking for Senior Specialist  who will contribute to highly visible enterprise-wide modeling programs, 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 execute corporate-wide standards for model development. The incumbent will be responsible for leading work to identify problems that can be solved by the application of financial theory and the building of models which improves the firm's operations.  This will entail investigating and selecting frameworks best suited to solve a problem and deciding on the scope of the solution. The incumbent may work in one of five disciplines, each responsible for a different type of modeling:

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

Responsibilities:

  • Executes corporate-wide standards for model validation, by setting the scope of a development effort.  This entails determining the frameworks that will be used, the source data that should be collected, assumptions that must be made, and the outcomes that need to be reviewed.
  • Evaluates  the strengths and weaknesses of framework options and identify which is most likely to meet the needs of the business.
  • Reviews accuracy of reports and calculations performed by less experienced colleagues; ensures proper model documentation is being put in place.
  • Supports the validation of models; the incumbent is expected to provide testing and analysis at the request of Model Risk Management.
  • Supports the use of models; the incumbent is expected to execute models in accordance with approval conditions and communicate results to management.
  • Is responsible for performance monitoring of models, identifying possible deteriorating by comparing outcomes to established thresholds.
  • Is 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.

Qualifications

  • Master's Degree/PhD in a quantitative discipline, including engineering, mathematics, physics, statistics, economics.
  • 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 modeling experience in financial services. 
  • 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: 85358
Organization: Risk-HR06016
Requisition Number: 1806786