Vice President, Model Risk Management

Job Description

Bank of New York Mellon seeks Vice President, Model Risk Management II in Los Angeles, CA to contribute to a highly visible enterprise-wide model development function. The role involves making estimates that are key inputs to management decisions and are reported to Senior Management and the Board of Directors on a regular basis, executing enterprise standards for model validation, and leading work to identify and evaluate model risk and proposed controls to manage that risk.

• Credit Risk Modeling
• Treasury Modeling
• Market Risk Modeling
• Pricing Modeling
• Forecasting

Investigate weaknesses of a framework and set the scope and design tests for a validation effort appropriate to that framework. Design tests and review activities necessary to evaluate a model, evaluate the strengths and weaknesses of a model's conceptual framework to identify situations where a model may become less useful, review risks and formulate proposed controls into a plan of action for management, and provide technical direction, accuracy and soundness of quantitative methods in the assigned area.

Remote work may be permitted within a commutable distance from the worksite.

• Master’s degree in Financial Mathematics, Finance, Business Analytics, Statistics, Econometrics, or a related field (or foreign equivalent).
• At least 2 years of experience in the job offered or in a related quantitative occupation.
• Experience performing quantitative modelling, numerical analysis, and computational methods using programming languages including C/C++, C#, Java, FORTRAN, MATLAB, SAS and related mathematical or statistical software packages.
• Experience in financial modeling techniques such as value‑at‑risk models, interest‑rate models, risk quantification and forecast models, stochastic calculus for model evaluation, and model risk identification.
• Proficiency in data summary and visualization, hypothesis testing, estimation, regressions, time series analysis, and machine learning.
• Ability to conduct independent research, analyze problems, develop numerical experimentation and testing, produce results, and assess complex financial models with in‑depth examination of model assumptions, methodologies, strengths, and weaknesses.

Qualified applicants please apply online at (Use the "Apply for this Job" box below). and utilize reference code #72772. Please indicate “referral source – advertisement – WEB.”

The base salary range for this position is $ – $ per year pensation 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 the base salary and other discretionary payments at any time.

BNY is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals with Disabilities/Protected Veterans.