Senior Vice President, Model Development Manager - BNY Mellon

Overview

Senior Vice President, Model Development Manager 

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 Senior Vice President Model Development Manager to join our BNY Risk team. This role can located in Pittsburgh, PA or Lake Mary, FL in a Hybrid work environment.

 

About the team:

The Model Development team contributes to highly visible enterprise-wide modelling programs, dedicated to a specific area of the business, executing corporate-wide standards for model development. These models calculate key risk metrics that are reported to Senior Management and the Board of Directors on a regular basis as a key input to risk management decision making. This position is responsible for developing, maintaining, and implementing risk models for quantifying Counterparty Credit risk and Treasury Credit risk inherent in the Corporation's business activities and processes. 

 

In this role, you’ll make an impact in the following ways: 

• This role will take the lead in the development, enhancement and documentation of counterparty credit risk and treasury risk modeling methodologies. 
• You will also manage inbound questions, deliverables and ad-hoc requests with an emphasis on accuracy and timeliness of meeting deliverables on prescribed timelines; identify problems that can be solved by the application of financial theory and the building of models which improves the firm's operations 
• Execute corporate-wide standards for model development by creating options for theoretical frameworks, collecting data needed, supporting assumptions, and reviewing outcomes 
• Responsible for performance monitoring of models, identifying possible deterioration by comparing outcomes to established thresholds, and direct projects to develop or modify a suite of complex or interconnected models. 
• This role requires regular (written and verbal) interactions with business, technology, and other stakeholders in the bank such as Finance, Treasury, Model Risk Management. 
• It will be expected of you 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 modelling, and recommending alternative solutions to analytically challenging problems. 

 

To be successful in this role, we’re seeking the following: 

• Master’s degree in a quantitative discipline, including Financial Engineering / Operations Research/ Economics / Econometrics / Statistics / Mathematics, etc. is required; PhD is a plus
• The candidate must have minimum 5 years in quantitative modeling positions for a leading financial institution / central bank, consulting firm or similar, working on complex quantitative modelling, numerical analysis, and computational methods using programming languages (such as Python and R). Experience with databases focused on fixed income and equity pricing is desired.
• Focused on fine detail with ability to synthesize large amounts of data and various viewpoints and summarize key concepts. Production under pressure is necessary for success.
• Excellent organizational and communication (verbal and written) skills
• Must works well individually and in teams, share information, support colleagues, and encourages participation. Good inter-personal, time management, and negotiation skills are a key factor to accomplishing goals when interacting in a complex, multiple-priority environment. 
• Strong programming skills in Python and R is desired. Additional modeling development technologies are a plus

 

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 assesses market data to ensure a competitive compensation package for our employees. The base salary for this position is expected to be between $100,000 and $182,000 per year at the commencement of employment. However, base salary if hired will be determined on an individualized basis, including as to experience and market location, and is only part of the BNYM total compensation package, which, depending on the position, may also include commission earnings, discretionary bonuses, short and long-term incentive packages, and Company-sponsored benefit programs.

 

This position is at-will and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation) at any time, including for reasons related to individual performance, change in geographic location, Company or individual department/team performance, and market factors.

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.

EEO Statement:

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.