BNY Mellon Careers

SrGrpMgr, Model Risk

Pittsburgh, Pennsylvania

Job Description

The Director of Model Risk Management (Head of Validation) will be in charge of managing a function that oversees modeling throughout the corporation.  These models generate key inputs to management decisions and reporting provided to the Board of Directors. The incumbent’s teams identify risks in the firm’s modeling infrastructure as well as propose innovative approaches to manage that risk.  The Director will be responsible for engaging business users to implement appropriate systems to manage model risk and must be able to provide intellectual leadership in terms of conducting cutting-edge research, identifying latest trends and developments in modeling, as well as recommending alternative solutions to analytically challenging problems. The incumbent should have a strong background in at least two of five disciplines: 1) Credit Risk Modeling 2) Treasury Modeling 3) Market Risk Modeling 4) Pricing Modeling, and 5) Investment Forecasting.   Has authority to approve changes to existing models and initiations of new models as well as the start and closure of an investigation. Will make decisions on performance monitoring and issue closure for a modeling area. Direct management of a team of senior professionals and subordinate managers to include performance management and coaching. Responsible for the supervision of managers and coordination of functional resources; contributes to establishment of department priorities, policies, and procedures.


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. 7-10 years of total work experience with at least 1-3 years in management preferred. Experience in financial services, technology and with programming, documentation and communication preferred. Complex quantitative modeling, numerical analysis, computational methods using programming languages (e.g., C/C++, C#, Java, FORTRAN, MATLAB, SAS) and mathematical/statistical software packages experience may be preferred. Applicable graduate/post-graduate sponsored research or work-study programs may be an acceptable substitute for some years of direct work experience.

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: 85320
Job: Risk
Organization: Risk-HR06016
Requisition Number: 1809780