BNY Mellon Careers

SrGrpMgr, Model Risk

Pittsburgh, Pennsylvania
Risk


Job Description

The Senior Group Manager (Model Risk Director) will be in charge of managing a corporate validation function in the organization that covers multiple modeling areas within a discipline or modeling disciplines. 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 work in up to five disciplines, 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 Alternative Title: The incumbent may be called Head of Validation where the responsibilities covers the coordination across all modeling disciplines. For multiple modeling areas, create validation and review schedules and ensure analyst resources are assigned to the project. Execute enterprise standards for model validation, by ensuring the scope of validation efforts across modeling areas is properly set. This entails overseeing the design of tests and review activities necessary to evaluate models. Responsible for ensuring the strengths and weaknesses of frameworks across modeling areas are being properly identified so that the firm can identify situations where models become less useful. Reviews and writes the reporting of validation efforts. Engage 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 as well as the start and closure of an investigation. Decision 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. Manage financial resources/ budget for unit. Responsible for the supervision of managers and coordination of functional resources; establishes department priorities, policies and procedures. Modified based upon local regulations/requirements. 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.

Qualifications

Modified based upon local regulations/requirements. 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: 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/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: 1818697