Overview
SENIOR SPECIALIST, MODEL DEVELOPMENT
Bring your ideas. Make history.
BNY Mellon offers an exciting array of future-forward careers at the intersection of business, finance, and technology. We are one of the world's top asset management and banking firms that manages trillions of dollars in assets, custody and/or administration. Known as the "bank of banks" - 97% of the world's top banks work with us as we lead and serve our customers into the new era of digital.
With over 238 years of rich history and industry firsts, BNY Mellon has been built upon our proven ability to evolve, lead, and drive new ideas at every turn. Today, we're approximately 50,000 employees across 35 countries with a culture that empowers you to grow, take risks, experiment and be yourself. This is what #LifeAtBNYMellon is all about.
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We're seeking a future team member for the role of Senior Specialist, Model Development to join our Corporate Treasury team. This role is located in Pittsburgh, PA, United States - HYBRID.
In this role, you'll make an impact in the following ways:
The Senior Specialist (Financial Modeling Analyst) will contribute to highly visible enterprise-wide modeling programs, dedicated to a specific area of the business. The models make estimates that are a key input to management decisions and are reported to Senior Management and the Board of Directors on a regular basis. The role will be to execute corporate-wide standards for model development. The incumbent will be responsible for leading work to identify problems that can be solved by the application of financial theory and the building of models which improves the firm's operations. This will entail investigating and selecting frameworks best suited to solve a problem and deciding on the scope of the solution. The incumbent may work in one of five disciplines, each responsible for a different type of modeling: 1) Credit Risk Modeling; 2) Treasury Modeling; 3) Market Risk Modeling; 4) Pricing Modeling; 5) Forecasting. Primary responsibilities are as follows:
- Execute corporate-wide standards for model validation, by setting the scope of a development effort. This entails determining the frameworks that will be used, the source data that should be collected, assumptions that must be made, and the outcomes that need to be reviewed.
- Evaluate the strengths and weaknesses of framework options and identify which is most likely to meet the needs of the business.
- Reviews accuracy of reports and calculations performed by less experienced colleagues; ensures proper model documentation is being put in place.
- Support the validation of models; the incumbent is expected to provide testing and analysis at the request of Model Risk Management.
- Support the use of models; the incumbent is expected to execute models in accordance with approval conditions and communicate results to management.
- The incumbent will be responsible for performance monitoring of models, identifying possible deteriorating by comparing outcomes to established thresholds.
- Master's Degree/PhD in a quantitative discipline, including engineering, mathematics, physics, statistics, economics. The candidate must have a superb quantitative and analytical background with a solid theoretical foundation coupled with strong programming, documentation and communications skills.
- Minimum 2 years (2 - 5 preferred) of modeling experience in financial services. Must have experience with complex quantitative modeling, numerical analysis, and computational methods using programming languages (such as C/C++, C#, Java, FORTRAN, MATLAB, SAS, R, Python) as well as mathematical/statistical software packages. Must be extremely focused, detail oriented, results oriented and highly productive. Must have a proven track record of being able to efficiently and effectively conduct independent research, analyze problems, formulate and implement solutions, and produce quality results on time. The candidate must have excellent scientific and technical documentation and presentation skills, assertiveness & influencing skills, and the skills to explain abstract theoretical concepts to a non-expert audience in easy-to-understand language.
- Fortune World's Most Admired Companies & Top 20 for Diversity and Inclusion
- Bloomberg's Gender Equality Index (GEI)
- Best Places to Work for Disability Inclusion , Disability: IN - 100% score
- 100 Best Workplaces for Innovators, Fast Company
- Human Rights Campaign Foundation, 100% score Corporate Equality Index
- CDP's Climate Change 'A List'
BNY Mellon 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 that can support you and your family through moments that matter. BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.
Employer Description:
For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments and safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark: bnymellon.com/careers.
EEO Statement:
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals With Disabilities/Protected Veterans. Our ambition is to build the best global team - one that is representative and inclusive of the diverse talent, clients and communities we work with and serve - and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.