Work From Home Model Risk Management Jobs in California

The Bank of New York Mellon seeks Vice President, Model Risk Management II in Los Angeles, CA, to contribute to highly visible enterprise-wide model development function in the organization. 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. Execute enterprise standards for model validation. Responsible for leading work to identify and evaluate model risk as well as proposed controls to manage that risk. Investigate the weaknesses of a framework and setting the scope and designing tests for a validation effort, appropriate to that framework. 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. Execute enterprise standards for model validation, by setting the scope of a validation effort. Design the tests and review activities necessary to evaluate a model. Evaluate the strengths and weaknesses of a model's conceptual framework to identify situations where a model may become less useful. Review risks and formulate the proposed controls into a plan of action for management. Provide technical direction, accuracy and soundness of quantitative methods in the assigned area. Remote work may be permitted within a commutable distance from the worksite.

REQUIREMENTS: Master's degree, or foreign equivalent, in Financial Mathematics, Finance, Business Analytics, Statistics, Econometrics, or a related field, and two (2) years of experience in the job offered or in a related quantitative occupation. Two (2) years of experience must include: Performing quantitative modelling, numerical analysis, and computational methods using programming languages including C/C++, C#, Java, FORTRAN, MATLAB, SAS as well as mathematical or statistical software packages; Performing financial modeling techniques, including value-at-risk type of models, interest rate models, risk quantification and forecast models, stochastic calculus for model evaluation, and model risk identification; Using data summary and visualization, hypothesis testing, estimation, regressions, time series analysis, and machine learning; and Conducting independent research, analyzing problems, developing numerical experimentation and testing, producing results, and assessing complex financial models including in-depth examination of model assumptions, methodologies, and strengths and weaknesses.

Qualified applicants please apply online at https://bnymellon.eightfold.ai/careers and utilize reference code #72772. Please indicate "referral source - advertisement - WEB."

BNY assesses market data to ensure a competitive compensation package for our employees. The base salary/range for this position is expected to be $129,500.00 - $179,000.00 per year at the commencement of employment. 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 the 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. 

BNY is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals with Disabilities/Protected Veterans.

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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.