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.
ECA - Capital Adequacy & Stress Testing
The Capital Adequacy and Stress Testing team are responsible for ensuring that capital adequacy, in relation to its risk profile, is 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 the Internal Capital Adequacy Assessment Process, and Recovery and Resolution plans. The purpose of the team is to assess/analyse the level of capital required to offset the material risk exposures in a business as usual environment and stressed conditions and provide recommendations to the business.
This is a key role supporting the delivery of the Firm-wide Stress Tests , the Internal Capital Adequacy Assessment Process, and the RRP (Recovery and Resolution plan) capital stress testing assessments for the legal entities of BNY Mellon in Continental Europe. The role will have exposure to the wide range of Business Lines and support multiple projects improving the Economic Capital Analysis and the Capital planning processes.
- Analyse/assess the broad range of risks faced by the legal entity and incorporate these into the capital assessments (base case and stressed).
- Assess vendor provided macro-economic stress scenarios, and propose possible scenarios to the Capital and Stress Testing Committees.
- Conduct capital stress testing (economic downturn and ad-hoc), reverse stress testing, and sensitivity analysis to be used as part of the ICAAP, RRP, and ECB stress test.
- Perform on-going monitoring, review, assessment of regulatory changes that affect the Entity`s ability to undertake stress testing/ICAAPs.
- Enhance the stress testing infrastructure to increase efficiency, control and speed of the stress test process (including propose ways to increase efficiency, and lead in its delivery).
- Oversee and guide technology requirements to support automation of the stress testing and capital adequacy tools.
- Participate in projects to further develop the stress test processes including reverse stress testing and leading the improvement of risk models.
- Conduct stress test tool development and analysis.
- Reviewing all relevant policies (stress testing, Basel and Capital Adequacy etc.), monitoring any policy gaps and driving initiatives to ensure compliance.
- Resolve economic capital issues and questions generated from Risk, Treasury and Finance (i.e. in relation to capital management/planning).
- Maintain and expand detailed ICAAP/Stress Testing procedural documentation.
- Organise the ICAAP production, contribute to sections of the ICAAP document and support production of other ICAAP sections as required.
- Contribute to sections of the RRP document and support production of other RRP sections as required.
- Analyse economic capital results (includes preparing stress testing documentation, and relevant committee packs).
- Analyse and challenge the Expected Credit Loss under IFRS9, and prepare the committee approval.
- Anticipates changes in the regulatory environment and the business; conducts applicable research and makes recommendations for responding to emerging/changing regulatory requirements affecting capital adequacy requirements.
- Minimum 2 years (2 - 5 preferred) in financial services, preferably in similar business.
- The person must have good technical skills and master Excel. VBA is a plus.
- Master's Degree in an economic or mathematic related discipline. The candidate must have very good organisation skills, be able to challenge the business in a constructive and efficient way, and must have good communication skills. The person should also not be reluctant for documentation tasks.
- 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
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 and 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.