Overview
Who we are:
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of March 31, 2020, BNY Mellon had $41.7 trillion in assets under custody and/or administration, and $2.2 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
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Role description and opportunities:
This position is responsible for developing, maintaining, and implementing risk models for quantifying counterparty credit risk and treasury credit risk inherent in the Corporation's business activities and processes. These models calculate key risk metrics that are reported to Senior Management and the Board of Directors on a regular basis, a critical part risk management decision making. The developer will be responsible 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.
Responsibilities
The quantitative model developer role sits in the Counterparty Credit Risk (Securities Finance Transaction) and Treasury Credit Risk Modeling Team:
- Develop, enhance, and document counterparty credit risk and treasury risk modeling methodologies.
- This role will assist in managing inbound questions, deliverables and ad-hoc requests with an emphasis on accuracy and timeliness of meeting deliverables on prescribed timelines.
- Execute corporate-wide standards for model development by creating options for theoretical frameworks, collecting the required data, supporting assumptions, and reviewing outcomes
- Responsible for performance monitoring of models, identifying possible deterioration by comparing outcomes to established thresholds.
- Regular interactions (presentations, written communications etc) with business, technology, and other stakeholders in the bank such as Finance, Treasury, and Model Risk Management.
- Good inter-personal and negotiation skills are a key factor to accomplishing goals when interacting in a complex, multiple-priority environment. Strong programming skills in Python and R is desired.
- Strong quantitative skills: Master's degree in a quantitative discipline, including Financial Engineering / Operations Research/ Economics / Econometrics / Statistics / Mathematics, etc. is required; PhD is a plus
- The candidate must have experience with complex quantitative modelling, numerical analysis, and computational methods using programming languages (such as Python and R) and have experience with database.
- Internship experience in quantitative modeling positions for a leading financial institution / central bank, consulting firm or similar
- Experience in fixed income and equity pricing
- Extremely focused, detail oriented and highly productive with ability to synthesize large amounts of data and various viewpoints and summarize key concepts
- Excellent organizational and communication (verbal and written) skills
- A proven track record of executing against deliverables and meeting deadlines under pressure
- Works well individually and in teams, shares information, supports colleagues, and encourages participation
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.
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.