Director, Counterparty Credit Risk Senior Group Manager, Exposure Management

Company: Bank of New York Mellon
Location: New York
Posted on: September 19, 2023

Job Description:

Overview

Team Description, Role, and Function:

Counterparty Credit Risk ("CCR") is a 2nd Line-of-Defense function within Credit Risk that will enhance oversight and controls over CCR metrics. The Senior Principal will be the business owner for all CCR systems and all CCR Models, as well as providing leadership for governance functions s, act as a regulatory liaison, and serve as chair for key oversight committees

Responsibilities - External

• Oversee all large-scale projects, infrastructure replacements, data standards, systems and models with regards to Counterparty Credit Risk.
• Maintain a robust controls environment for accurate and timely reporting; ensure CCR metrics are produced to the expectations of regulators and stakeholders.
• Develop and enhance tools for the measurement, monitoring, and management of counterparty exposure including PFE, wrong way risk, and stress testing
• Actively liaise with sales & trading and 1LOD to ensure comprehensive coverage of counterparty across all derivatives and financing products
• Closely work with 2ndLOD Risk Modelers and CCR analytics teams, Technology groups on CCR model development and the evolution of CCR models to address new products or risk areas
• Work with business managers and line-of-business risk teams on new product approvals, and real-time monitoring and controls
• Analyse the control environment including periodic review of the control environment, vetting of new systems, processes, policies, and procedures related to CCR
• Responsible for the achievement of goals and objectives, talent management and supervision of staff. Completion of tasks may affect organizational achievement of objectives. Modified based upon local regulations/requirements
  
  Qualifications:
  
  • Bachelor's Degree in a quantitative field such as financial engineering, computer science, mathematics, statistics, physics, or similar areas) is required. Masters degree or PhD preferred.
  • 10+ years total work experience with 12-15 years of experience in Counterparty Credit Risk preferred.
  • 3-5 years of managerial experience is preferred.
  • Knowledge of regulatory reporting standards is required
  • Experience in CCR Governance or CCR Measurement is highly preferred.
  • The ideal candidate will have a robust background combining a knowledge of risk management with complex financial systems, large transactions, and business process ownership
    
    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.
    
    BNY Mellon assesses market data to ensure a competitive compensation package for our employees. The base salary for this position is expected to be between $131,500 and $200,000 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 BNYM 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.
    
    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.

Keywords: Bank of New York Mellon, New York , Director, Counterparty Credit Risk Senior Group Manager, Exposure Management, Executive , New York, New York