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BNY · 1 day ago

Director, Model Risk Management Manager

New York, NY

Full-time

Onsite

Senior Level, Lead/Staff

$127K/yr - $212K/yr

10+ years exp

BNY is a leading global financial services company that influences nearly 20% of the world’s investible assets. The Director of Model Risk Management will lead the organization's enterprise-wide approach to model validation and risk oversight, mentoring teams and ensuring compliance with regulatory requirements.

Financial Services

Responsibilities

Lead, mentor, and grow teams responsible for model validation, risk assessment, and compliance with regulatory requirements

Oversee end-to-end model validation activities for high-impact, high-risk models (Credit Risk, Treasury Risk, Market Risk, Pricing, Forecasting, Capital Stress Testing, AI, and Financial Crimes)

Approve validation methodologies including conceptual soundness, outcome analysis, benchmarking, and implementation verification

Monitor model performance metrics, remediation progress, and ongoing validation requirements

Serve as a key point of contact for regulators during exams and inquiries

Collaborate with the heads of Modeling, Data Science, Finance, Risk, and Technology to ensure alignment with BNY’s risk management framework and regulatory expectations

Behave ethically and adhere to BNY’s standards, including the Code of Conduct and applicable policies

Serve as a role model in creating and sustaining a strong risk culture and support the development of team members

Qualification

Model validationQuantitative risk managementRegulatory guidanceAnalytical toolsAnalytical backgroundLeadershipCommunication skills

Required

Master's Degree or PhD in a quantitative discipline, including engineering, mathematics, physics, statistics, econometrics

Strong understanding of regulatory guidance, such as SR 11-7, CCAR, Basel, CECL, etc

Experience leading and developing high-performing quantitative teams

Possess a strong analytical background with a solid theoretical foundation coupled with advanced programming, documentation, and communications skills

Minimum 10 years of responsible experience in model risk, model validation, or quantitative risk management, including several years in leadership roles

Demonstrated ability to interact with senior executives, auditors, and regulatory agencies

Proficiency in analytical tools (C/C++, C#, Java, FORTRAN, MATLAB, SAS) as well as mathematical/statistical software packages