Vice President, Model Risk Management

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 in the organization.ResponsibilitiesExecute enterprise standards for model validation and lead work to identify and evaluate model risk.Investigate weaknesses of a framework, set scope and design tests for validation efforts appropriate to that framework.Provide technical direction, ensuring accuracy and soundness of quantitative methods in the assigned area.Review risks, formulate proposed controls into a plan of action for management.Communicate estimates that are key inputs to management decisions and report to Senior Management and the Board of Directors on a regular basis.Remote work may be permitted within a commutable distance from the worksite.DisciplinesCredit Risk ModelingTreasury ModelingMarket Risk ModelingPricing ModelingForecastingQualificationsMaster's degree, or foreign equivalent, in Financial Mathematics, Finance, Business Analytics, Statistics, Econometrics, or a related field.Two (2) years of experience in a related quantitative occupation, including performing quantitative modeling, numerical analysis, and computational methods using programming languages (C/C++, C#, Java, FORTRAN, MATLAB, SAS) and 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 with data summary and visualization, hypothesis testing, estimation, regressions, time series analysis, and machine learning.Conducting independent research, analyzing problems, developing numerical experimentation and testing, producing results, and assessing complex financial models, including in-depth examination of model assumptions, methodologies, strengths and weaknesses.Compensation and BenefitsThe base salary/range for this position is expected to be $129,500.00 – $179,000.00 per year at the commencement of employment. Base salary is determined on an individualized basis and is only part of the total compensation package, which may also include commission earnings, discretionary bonuses, short- and long-term incentive packages, and company-sponsored benefit programs.EmploymentThis position is at-will, and the Company reserves the right to modify the 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.Equal Employment OpportunityBNY is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals with Disabilities/Protected Veterans.