Overview

• The Specialist (Model Risk Analyst) will contribute to highly visible enterprise-wide model validation function in the organization.
• 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 execute enterprise standards for model validation.
• The incumbent will be responsible for identifying and evaluating model risk and propose controls to manage that risk.
• This will entail following the scope of a validation effort and executing tests and reviews.
• The incumbent may work 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
5. Forecasting

• Execute enterprise standards for model validation by applying techniques and methodologies to test assumptions and review outcomes of a model.
• Tests and reviews align to the validation scope established by more senior colleagues.
• The incumbent will be responsible for identifying and evaluating model risk and proposing controls to manage that risk.
• Subsequent to the validation of a model, the incumbent is expected to lead projects that automate prior testing, allowing risk to be assessed on a dynamic basis.
• The incumbent may be required to construct shadow models that run alongside those in production, allowing Model Risk Management to monitor performance in real time.
• No formal supervisory responsibility.
• Primarily responsible for the accuracy and quality of own work .
• Modified based upon local regulations/requirements.

Requirements

• Master's Degree/PhD in a quantitative discipline, including engineering, mathematics, physics, statistics, econometrics.
• 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. Our ambition is to build the best global team – one that is representative and inclusive of the diverse talent, clients and communities we work with and serve – and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.

Employer Description:

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.