BNY · 1 month ago
Vice President, Financial Model Audit – Model Risk
New York, NY
Full-time
Onsite
Mid Level
$100K/yr - $150K/yr
3+ years expBNY is a leading global financial services company at the heart of the global financial system, influencing nearly 20% of the world’s investible assets. They are seeking a Vice President for their Model Risk Audit Team to perform high-quality audit testing, ensuring adherence to policies and identifying risks associated with model risk in various finance functions.
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
Qualification
Required
Advanced degree (Masters or PhD) in Math, Statistics, Physics, Economics or other quantitative fields are required
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
Understanding of the applied and interpretation of analytics results for Audit, critical thinking and problem solving
Preferred
PhD is preferred
Strong quantitative and analytical background coupled with strong theoretical foundation and good communication skills preferred
Benefits
Flexible global resources and tools for your life’s journey
Generous paid leaves, including paid volunteer time
Company
BNY
For more than 240 years BNY has partnered alongside clients, using its expertise and platforms to help them operate more efficiently and accelerate growth.
10001+ employees
Funding
Current Stage
Late StageLeadership Team
Brian A. Ruane
CEO Government Securities Services & Global Client Management
Chris Kearns
CEO, Depositary Receipts
Recent News
PR Newswire
2024-11-01
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