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BNY · 4 months ago

Vice President, Audit Project Leader - Model Risk

240 Greenwich Street, New York, NY, 10286, US

Full-time

Onsite

Mid Level

$100K/yr - $150K/yr

3+ years exp

BNY is a leading global financial services company that influences nearly 20% of the world’s investible assets. They are seeking a Vice President, Audit Project Leader for their Model Risk Audit team, responsible for conducting high-quality audit testing related to model risk and ensuring adherence to regulatory requirements and company policies.

Financial Services

Responsibilities

Performing high quality, risk-focused audit testing, in accordance with Internal Audit policies, methodologies, and standards in order to identify meaningful issues, risks and other exposures related to model risk in Finance’s Corporate Treasury functions, and Risk Management areas focusing on the Enterprise-wide management of Market Risk, Credit Risk, Interest Rate Risk, Liquidity Risk, Financial Crime Compliance, and Artificial Intelligence / Machine Learning

Tests model development and model validation processes as per the Supervisory Guidance on Model Risk Management and the Bank’s Model Risk Management policies, standards, and procedures

Operates as a team member or independently and has responsibility for specific procedures and results (i.e., head of a project relating to an audit, audit project, or model auditor). Ensures testing (or other tasks as applicable to a specialty) is adequately thorough and accurate to allow an evaluation of the adherence to company policies and procedures, audit methodologies, and all applicable regulations. Identifies existing and emerging risk/ control themes

Prepare draft audit reports and follow-up of audit actions to ensure corrective actions have been appropriately implemented

Learns new businesses, processes and regulations

Work with other audit team members to mentor, guide and collaborate

Work on projects of great complexity that involves significant understanding of the regulatory requirements, business models and processes for each assignment

Maintain up to date knowledge of industry best practice and regulatory requirements

Carry out other ad-hoc tasks and projects as directed by audit senior management

Represent Internal Audit on projects and at management meetings

Engages in Continuous Monitoring activities

Uses knowledge of financial institutions and all applicable regulatory requirements on a day to day basis. Engages in relevant training regarding audit, businesses, financial controls, regulations, or a particular specialty and actively seeks to apply this knowledge in their role and pass it on to the wider audit team. Thinks beyond past routines about new issues or risks

No direct reports. Demonstrates leadership through work guidance and training of less experienced peers and through advice to assigned clients. Often leads teams on discrete projects, providing informal performance guidance or mentoring to team members. Contributes to the achievement of team goals

Qualification

Model developmentModel validationQuantitative analysisProgramming languagesRisk managementCommunication skillsCritical thinkingProblem solving

Required

Advanced degree (Masters or PhD) in Math, Statistics, Physics, Economics or other quantitative fields are required (PhD is preferred)

Strong quantitative and analytical background coupled with strong theoretical foundation and good communication skills preferred

3+ years working experience in model development, model validation, or model audit in the risk area such as Market Risk, Credit Risk, Interest Rate Risk, Liquidity Risk, Financial Crime Compliance, Artificial Intelligence / Machine Learning, stress testing, and capital planning

The position requires special skills (eg. mathematical, statistical, quantitative, economic, and business knowledge and modeling experience)

Proficient with programming languages used for model development and validation, such as Matlab, R, C++, Python, etc Additional core skill requirements include understanding of the applied and interpretation of analytics results for Audit, critical thinking and problem solving