Vice President, Model Risk Management I

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Job description

Vice President, Model Risk Governance I

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 is all about.

We're seeking a future team member for the role of Vice President, Model Risk Governance to join our Model Risk team. This role is located in Pittsburgh, PA in a Hybrid work environment.

About the team:

Model Governance Group within Model Risk Management, is a team that operates on a global level. The position will manage models through different stages of their lifecycle. The incumbent will identify and risk rate models being used in the firm, evaluate the quality of model development, determining whether it may be allowed into validation, and work with the business to craft tailored governance paths for problem models.

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

• Manage the new model identification process, including working with product development and vendor management functions in the firm.
• Manage the Model Submission process. This includes initiations of new models, change requests to existing models, and retirement of old models. Manage the flow of information, analyze submitted materials, and recommend decisions to senior management.
• Work with model owners and modelling officers, translating business needs and requirements into actionable plans from a model-risk standpoint.

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

• An advanced degree in a quantitative discipline, including mathematics, engineering, financial engineering, statics, and econometrics
• 2-5 years of total working experience, preferably in a Model Risk organization within a large bank
• Experience in coordinating moderately sized process with multiple peers.
• Moderate to good in-depth knowledge of models used by banks (credit, treasury, market risk, financial, operational risk)
• Solid knowledge on FED/OCC expectations for models and risk management.
• Communication, partnership, the ability Influence, reliability, and drive are all preferred qualities for the role

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,
• Best Places to Work for Disability Inclusion , Disability: IN - 100% score,
• "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 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.

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