BNY Mellon powers individuals and institutions to succeed in the global economy providing investment management, investment services and wealth management. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).
With a dedicated business presence on six continents and in 35 countries, BNY Mellon delivers global scale at the local level.
The Global Delivery Centre in Wroclaw is a growing location, predominately providing support services to BNY Mellon entities in the areas of fund accounting and investment operations.
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’s Risk and Compliance Modeling and Analytics 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.
We have an exciting opportunity for a talented Group Manager, Model Development to join our team in Wroclaw. As Group Manager, Model Development within Enterprise Risk Analytics we are looking for Group Manager who will be in charge of managing a model development function in the organization, 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 oversee execution of the 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. Incumbent will manage the schedule, scope, and resources of a development area. 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.
As a successful candidate you will be given opportunity to acquire and develop knowledge from related fields:
The incumbent supports enterprise-level quantification of risk to support decision-making by senior management and the board of directors. This risk quantification will include the following areas of responsibility:
1) Risk-adjusted profitability: Develop frameworks, methodologies and tools to support Risk-adjusted profitability in the current regulatory context; such methodologies will include regulatory requirements as constraints as well as capture the economic risks that the firm is exposed to. Answers to key strategic questions posed by senior management.
2) AI/Machine Learning: Lead the work of analysts in one of five disciplines, each responsible for a different type of modelling: Credit Risk Modeling, Treasury Modeling, Market Risk Modeling, Pricing Modeling, Forecasting.
3) Under the direction of the Head of Risk Modeling and Analytics, the Manager will:
• Manage a team of quantitative analysts in Wroclaw
• Lead Enterprise Analytical Engagements, including the development of models and analytical tools, production of impeccable documentation and interaction with the Model Risk Management team
• Effectively partner with other analytical contributors at BNY Mellon to make effective use of existing tool set to serve enterprise needs
4) Lead and manage resources for Risk and Compliance Global Centers to enable the success of the department by:
- managing resources through active management (hold regular one-on-ones), developing our resources (support training goals) and engaging the team (build talent, onboard, recruit)
- communicating with peers and management regularly to proactively surface issues, identify opportunities and escalate when necessary
- conducting responsibilities of the Local Manager in a manner that build a sense of community
-execute on administration within R&C or Corporate guidelines
• Superb quantitative and analytical background, coupled with strong programming, documentation and communications skills.
• Strong managerial skills: time management, multitasking, and effective in high-paced environment.
• Master's Degree/PhD in a quantitative discipline preferred (e.g., Finance, Mathematics, Physics, Statistics or Engineering).
• Deep and diverse experience in Risk & Finance across multiple financial institutions (min. 5-10 years of experience).
• Understanding of Enterprise Risk Management related topics: Economic Capital, Credit Risk, Market Risk, Operational Risk, Capital/Liquidity Risk, Asset & Liability CCAR, the regulatory environment, Enterprise Risk Frameworks, including applications of AI and Machine Learning
• Experience in establishing and maintaining statistical models, monitoring their input parameters, and ensuring that the models are documented and validated consistent with industry best practice and company policy
• Strong programming experience, preferably in R, MATLAB, SAS.
• 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
• Full time contract of employment
• City Centre locations close to main railway station and flexible working arrangements
• Flexible benefits package, including life and medical insurance, health screening, fitness discount programme, employee assistance program
• Award-winning Wellbeing Program supporting you with your unique health and wellbeing needs
• Pension scheme
• On-site childcare and a parental buddy programme
• Exciting opportunities for career and global mobility
• Diverse and inclusive environment
• Employee Referral Program
• Recognition programmes
• A multitude of opportunities to get involved in charity projects and Employee Resource Groups (ERGs)