Senior Vice President, Credit Risk Review

Senior Vice President, Model Risk Validation

At BNY, our culture allows us to run our company better and enables employees' growth and success. As a leading global financial services company at the heart of the global financial system, we influence nearly 20% of the world's investible assets. Every day, our teams harness cutting-edge AI and breakthrough technologies to collaborate with clients, driving transformative solutions that redefine industries and uplift communities worldwide.

Recognized as a top destination for innovators, BNY is where bold ideas meet advanced technology and exceptional talent. Together, we power the future of finance – and this is what #LifeAtBNY is all about. Join us and be part of something extraordinary.

We are seeking a future team member for the role of SENIOR VICE PRESIDENT to join our MODEL RISK MANAGEMENT team. This role is located in NEW YORK.

In this role, you will be focusing on validation and risk management of algorithmic trading models also with exposures to Market Risk and Pricing Modeling.

Responsibilities include:

• Independently perform end to end validation of algorithmic trading models, including analysis of model performance, assumptions, and limitations, design and execution of independent testing, documentation of validation findings, and communicating results to stakeholders.
• Supervise model validations, model risk management activities through model lifecycle, and manage regulatory engagements
• Ensure effective processes and controls for prompt risk identification, assessment, mitigation, and tracking of issues related to model risk.
• Behave ethically and adhere to BNY's standards, including the Code of Conduct and applicable policies.
• Demonstrate ownership and accountability for managing model risk holistically, engaging proactively with control functions.
• Serve as a role model in creating and sustaining a strong risk culture and support the development of team members.
• Collaborate with other risk, compliance, and business leaders to ensure alignment with BNY's risk management framework and regulatory expectations.

To be successful in this role, we are seeking the following:

• Master's Degree or PhD in a quantitative discipline, including engineering, mathematics, physics, statistics, econometrics.
• The candidate must have a superb quantitative and analytical background with a solid theoretical foundation coupled with strong programming, documentation, and communications skills.
• Minimum 5 years (5 - 7 preferred) of modeling or validation experience in financial services.
• Must have most recent experience with algorithmic trading modeling, including knowledge of market microstructure, limit order book dynamics, execution quality measurement, experience validating algorithmic trading strategies and strong understanding of risk controls for algorithmic trading. Experience with derivatives pricing modelling is a plus.
• Must have experience with complex quantitative modelling, numerical analysis, and computational methods using programming languages (such as Python and kdb/q) as well as mathematical/statistical software packages, including building challenger models and independent benchmarks; ability to construct reference implementations to verify performance, stability, and compliance.

Our Benefits and Rewards:

BNY offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life's journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves, including paid volunteer time, that can support you and your family through moments that matter.

BNY is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.

BNY assesses market data to ensure a competitive compensation package for our employees. The base salary for this position is expected to be between $102,000 and $171,500 per year at the commencement of employment. However, base salary if hired will be determined on an individualized basis, including as to experience and market location, and is only part of the BNY total compensation package, which, depending on the position, 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 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.

Job Info

• Job Identification 72474
• Job Category Model Risk Management
• Locations 240 Greenwich Street, New York, NY, 10286, US
• Job Schedule Full time
• Job Shift Day
• Base Salary Min 102000