Vice President, Model Development II

2-5 years
4 months ago 2 Applied
Job Description

The Senior Specialist (Financial Modeling Analyst) will contribute to highly visible enterprise-wide modeling 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 leading work to identify 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 incumbent may work in one of five disciplines, each responsible for a different type of modeling:1) Credit Risk Modeling2) Treasury Modeling3) Market Risk Modeling4) Pricing Modeling5) ForecastingExecute corporate-wide standards for model validation, by setting the scope of a development effort. 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.Reviews accuracy of reports and calculations performed by less experienced colleagues,, 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,, the incumbent is expected to execute models in accordance with approval conditions and communicate results to management.The incumbent will be responsible for performance monitoring of models, identifying possible deteriorating by comparing outcomes to established thresholds.No direct reports,, provides guidance to more junior analysts. 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.Master's Degree/PhD in a quantitative discipline, including engineering, mathematics, physics, statistics, economics. The candidate must have a superb quantitative and analytical background with a solid theoretical foundation coupled with strong programming, documentation and communications skills.Minimum 2 years (2 - 5 preferred) of modeling experience in financial services. 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.


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.

JOB TYPE

Function

Skills

C#
SAS
C/C++
mathematical/statistical software packages
scientific and technical documentation
computational methods
assertiveness & influencing skills

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