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About the Role
Lead the Model Risk Management framework for a defined portfolio of models, including pricing, risk, capital, stress testing, AI/ML, and valuation models. This role focuses on GenAI and Wealth Models, ensuring clear standards for identification, assessment, validation, and governance, with consistent application across businesses and legal entities.
Responsibilities
- Lead the Model Risk Management framework for a defined portfolio of models by setting clear standards for model risk identification, assessment, validation and governance, and by ensuring consistent application across businesses and legal entities.
- Oversee and review independent model validations and ongoing performance monitoring by demonstrating deep quantitative expertise, providing effective challenge to model design, data, assumptions and implementation, and ensuring that model risk is appropriately quantified, documented and mitigated.
- Establish and chair or actively contribute to model risk governance forums by defining decision‑making processes, setting model approval thresholds and ensuring that model risk topics are escalated, debated and resolved in line with internal policies and regulatory expectations.
- Advise senior business, risk and Engineering stakeholders on model risk issues and emerging quantitative methodologies by translating complex analytical concepts into clear risk insights and recommendations that support sound business decisions and responsible innovation.
- Drive continuous enhancement of the firm’s model risk policies, standards, tools and methodologies by monitoring external regulatory developments, industry good practice and advances in quantitative methods, and by embedding these into practical, risk‑sensitive processes.
- Manage, develop and coach a team of model risk professionals by setting clear objectives, providing technical and behavioral guidance, promoting a culture of rigorous challenge and collaboration, and ensuring appropriate capacity and capabilities to meet current and emerging model risk demands.
Requirements
- Advanced degree (Master’s or PhD preferred) in a quantitative field such as mathematics, statistics, econometrics, physics, engineering, quantitative finance or computer science, or equivalent experience.
- Professional certifications in risk, quantitative finance or related areas (e.g., FRM, PRM, CQF) are advantageous.
- Strong knowledge of financial markets, products and risk management practices, including experience with complex mathematical/statistical modeling techniques.
- Advanced quantitative and analytical skills, including deep knowledge of model development, validation and performance measurement techniques, and the ability to provide credible effective challenge.
- Strong leadership, communication and stakeholder management skills, with the ability to influence senior leaders, shape governance decisions and translate complex quantitative issues into clear risk insights.
- Proven people management capabilities, including building and leading high‑performing quantitative teams, coaching technical staff and fostering a culture of integrity, accountability and continuous improvement in risk management.
Skills
- AI/ML
- GenAI
- Quantitative expertise
- Model design
- Data analysis
- Model validation
- Performance monitoring
- Risk quantification
- Risk documentation
- Risk mitigation
- Model risk governance
- Quantitative methodologies
- Risk management
- Financial markets
- Financial products
- Mathematical modeling
- Statistical modeling
- Leadership
- Communication
- Stakeholder management
- People management
- Team building
- Coaching
- Risk management culture
Location
- New York City, New York
Work Type
- Full-time
Experience Level
- 8-12 years of experience
Education Level
- Master's degree or PhD preferred in a quantitative field
- Equivalent experience
Salary/Compensations
- Competitive compensation package
- Base salary offered may vary depending on multiple individualized factors, including market location, job-related knowledge, skills, and experience.
- Base salary is only part of the total rewards package, which may include eligibility for an annual discretionary incentive award.
Benefits
- Highly competitive compensation
- Benefits and wellbeing programs
- Access to flexible global resources and tools
- 401(k) plan
- Company-sponsored medical, dental, vision, and basic life insurance plans
- Various paid time off benefits, such as vacation and sick time
- Paid volunteer time
About the Company
- BNY is a leading global financial services company at the heart of the global financial system, influencing nearly 20% of the world’s investible assets.
- 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 where bold ideas meet advanced technology and exceptional talent.
- BNY Newsroom: https://www.bny.com/corporate/global/en/about-us/newsroom.html
- BNY LinkedIn: https://www.linkedin.com/company/bnyglobal/posts/?feedView=all
- Awards: America’s Most Innovative Companies, Fortune, 2025; World’s Most Admired Companies, Fortune 2025; “Most Just Companies”, Just Capital and CNBC, 2025
Equal Opportunity
- BNY is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.