ABOUT BNY MELLON
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations, or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of March 31, 2021, BNY Mellon had $41.7 trillion in assets under custody and/or administration, and $2.2 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
Remote work is an option.
The Principal (Financial Modeling Project Lead) will direct projects to develop or modify a suite of complex or interconnected models. 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 corporate-wide standards for model development on a large and/or interconnected scale. The incumbent will be responsible for identifying problems that can be solved by the application of financial theory and building models that improve the firm's operation. The incumbent will be expected to plan the timing and resources for significant projects and 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 the work of analysts in one of five disciplines, each responsible for a different type of modeling:
1) Credit Risk Modeling
2) Treasury Modeling
3) Market Risk Modeling 4) Pricing Modeling
For modeling activities that occur on a large or interconnected scale, the incumbent will create development schedules and ensure analyst resources are assigned. Execute corporate-wide standards for model development, by setting the scope of development efforts for complex and/or interconnected models. This entails determining the frameworks that will be used, the source data that should be collected, assumptions that should 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 ensure testing and analysis is provided at the request of Model Risk Management. The incumbent will be responsible for arranging performance monitoring of models, identifying possible deteriorating by comparing outcomes to established thresholds. No direct reports,, provides guidance to more junior analysts. Responsible for the indirect supervision of team members and coordination of resources. Modified based upon local regulations/requirements.
- The candidate must have a superb quantitative and analytical background with a solid theoretical foundation coupled with strong programming, documentation and communications skills.
- 5 years with Masters or 3-years with PhD required.
- Must have experience with complex quantitative modeling, numerical analysis, and computational methods using programming languages (MATLAB, R, Python) as well as mathematical/statistical software packages.
- Understanding of economic capital models for operational risk or credit risk is a must.
- 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.
- The individual might train/manage junior team members.
- No direct reports.
- 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