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Model Risk Director

Company: The Bank of New York Mellon Corporation
Location: Pittsburgh
Posted on: September 13, 2020

Job Description:

Job Description The Senior Group Manager (Model Risk Director) manages a risk management function, overseeing modeling areas that drive business decisions and are reported to Senior Management as well as the Board of Directors. The incumbent’s goal is to identify conditions under which these models could fail. Communication is key since the incumbent will engage management to shape controls that prevent or minimize harm. The incumbent manages the validation process for the area, tracking issues through the entire model lifecycle. Directing a team of senior professionals and subordinate managers, the incumbent is responsible for ensuring that the strengths and weaknesses of frameworks are identified. The incumbent has authority to approve changes to existing models and initiations of new models as well as start and close an investigation. The incumbent will make decisions on performance monitoring and the remediation of issues as well as summarize conclusions by reviewing and writing reports for validation efforts. The 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. The incumbent may lead work in one to five disciplines, each area responsible for a different type of modeling: 1) Credit Risk Modeling 2) Treasury Modeling 3) Market Risk Modeling 4) Pricing Modeling 5) Forecasting Modeling. Qualifications Master's Degree/PhD in a quantitative discipline, including financial engineering, engineering, mathematics, physics, statistics, and econometrics. The candidate must have a superb quantitative and analytical background coupled with strong communications skills. 7-10 years of total work experience with at least 1-3 years in management preferred. Experience in financial services, strongly preferred. Knowledge of complex quantitative modeling, numerical analysis, and computational methods. Programming languages that groups work with include, C/C++, python, R, MATLAB, and SAS. Applicable graduate/post-graduate sponsored research or work-study programs may be an acceptable substitute for some years of direct work experience.

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.

Primary Location: United States-Pennsylvania-Pittsburgh

Internal Jobcode: 85320

Job: Risk

Organization: Risk-HR06016

Requisition Number: 2006508

Keywords: The Bank of New York Mellon Corporation, Pittsburgh , Model Risk Director, Other , Pittsburgh, Pennsylvania

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