BNY Mellon Careers

Spec, Model Dev

Pittsburgh, Pennsylvania
Risk


Job Description

ABOUT THE TEAM   The Economic Forecasting Group (EFG) is situated within Risk and Compliance at the Bank of New York Mellon Corporation (the Firm).  The group plays a central role in (1) facilitating the Firm's CCAR/DFAST stress-testing requirement as well as (2) compliance with CECL/IFRS 9 accounting standards.  The results of both efforts serve as valuable input to Senior Management's decision-making process. To maximize the value of its projects, EFG regularly liaises with members of Market Risk, Treasury, Finance, as well as other areas of the Firm providing EFG with substantial visibility within the organization.   ABOUT THE POSITION   EFG seeks a Specialist to serve as a Financial Modeling Analyst.  For a given project, the Specialist will be expected to execute corporate-wide standards for model development by:   - Identifying and collecting the necessary data to solve the modeling problem characterizing the project - Utilizing financial and economic theory to identify options for theoretical frameworks - Supporting the modeling assumptions of the implemented framework - Performing model testing consistent with internal validation standards  - Monitoring model performance by comparing model outcomes to established performance thresholds for potential deterioration - Completing model documentation consistent with internal validation standards - Developing code in R or similar language to implement the modeling framework    The Specialist's work will align to the development scope established by more senior colleagues.  This position entails no formal supervisory responsibility.  The Specialist will primarily be responsible for the accuracy and quality of their own work.  Position responsibilities may be modified based on local regulations/requirements.

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. 0-2 years of experience. 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.
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: 85357
Job: Risk
Organization: Risk-HR06016
Requisition Number: 1900996