BNY Mellon Careers

Senior Specialist, Model Development

Brussels, Belgium
Risk


Job Description

Position Summary:

The Capital Adequacy and Stress Testing team are responsible for ensuring that the capital assessments of overall capital adequacy, in relation to its risk profile, are taken into account when developing the annual capital plans for the European entity. The team are also responsible for conducting the capital stress testing required for ICAAP, Recovery and Resolution plans, EBA stress tests.

The Senior Specialist (Financial Modelling Analyst) will contribute to highly visible enterprise-wide modelling programs. The models make estimates that are a key input to management decisions and are reported to Senior Management and the Board of Directors. 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 will also maintain and run the models in order to provide the entities all analyses needed for their regulatory and managerial requirements.

 

Primary Responsibilities:

  • Execute corporate-wide standards for model development. 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.

  • Evaluate 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.

  • Support the validation of models; the incumbent is expected to provide testing and analysis at the request of Model Risk Management.

  • Support the use of models; the incumbent is expected to execute models in accordance with approval conditions and communicate results to management

  • The incumbent will be responsible for performance monitoring of models, identifying possible deteriorating by comparing outcomes to established thresholds.

Leadership:

No direct reports; provides guidance to more junior analysts.

Job Scope:

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

Education:

Master's Degree/PhD in a quantitative discipline, including engineering, mathematics, physics, statistics, economics. The candidate must have a quantitative and analytical background with a solid theoretical foundation coupled with strong programming, documentation and communication skills.

Experience/skills:

Minimum 2 years (2 - 5 preferred) of modelling experience in financial services.  Must have experience with complex quantitative modelling, numerical analysis, and computational methods using programming languages (Python – preferred, or other such as C/C++, C#, Java, FORTRAN, MATLAB, Python).

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, analyse 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 Employer.

Primary Location: Belgium-Brussels-Capital Region-Brussels
Job: Risk
Internal Jobcode: 85358
Organization: Risk-HR06016
Requisition Number: 1903299