At BNY, our culture empowers you to grow and succeed. As a leading global financial services company at the center of the world’s financial system we touch nearly 20% of the world’s investible assets. Every day around the globe, our 50,000+ employees bring the power of their perspective to the table to create solutions with our clients that benefit businesses, communities and people everywhere.
We continue to be a leader in the industry, awarded as a top home for innovators and for creating an inclusive workplace. Through our unique ideas and talents, together we help make money work for the world. This is what #LifeAtBNY is all about
We’re seeking a future team member for the role of Specialist, Model Development Risk Modelling to join our Risk& Compliance team.
The Model Development Specialist will contribute to highly visible enterprise-wide modelling programs, 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 execute corporate-wide standards for model development. The incumbent will be responsible for identifying 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 Role offers wide range of development opportunities given the incumbent team maintains models from variety of disciplines
- Credit Risk Modelling
- Treasury Modelling
- Market Risk Modelling
- Operational Risk Modelling
In this role, you’ll make an impact in the following ways:
- Development, maintenance and execution of Economic Capital models
- Cooperation with validation team. 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.
- Ensure accuracy of reports and calculations performed, 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.
- Execute models in accordance with approval conditions and communicate results to management.
- Performance monitoring of models, identifying possible deteriorating by comparing outcomes to established thresholds.
The Incumbent is 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. Modified based upon local regulations/requirements.
To be successful in this role, we’re seeking the following:
- 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 communications skills.
- 1 - 5 years of relevant experience in financial services.
- Knowledge and familiarity with various risk concepts, with Credit risk business knowledge would be considered as a plus
- Good programming skills in one of the programming languages: Python/R/C++
- Experience with complex quantitative modelling, numerical analysis, and computational methods would be considered as a plus
- Focused, detail oriented, results oriented and highly productive.
- Being able to efficiently and effectively conduct independent research, analyse problems, formulate and implement solutions, and produce quality results on time.
- Strong scientific and technical documentation and presentation skills, and being able to explain abstract theoretical concepts to a non-expert audience in easy-to-understand language.
At BNY, our culture speaks for itself. Here’s a few of our awards:
- America’s Most Innovative Companies, Fortune, 2024
- World’s Most Admired Companies, Fortune 2024
- Human Rights Campaign Foundation, Corporate Equality Index, 100% score, 2023-2024
- Best Places to Work for Disability Inclusion, Disability: IN – 100% score, 2023-2024
- “Most Just Companies”, Just Capital and CNBC, 2024
- Dow Jones Sustainability Indices, Top performing company for Sustainability, 2024
- Bloomberg’s Gender Equality Index (GEI), 2023
Our Benefits and Rewards:
BNY offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life’s journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves, including paid volunteer time, that can support you and your family through moments that matter.
BNY is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans
