Director - Model Risk Management AI, Wealth and Investment

About the role

This senior leadership position within the Risk & Regulatory Compliance function is accountable for independent oversight of model risk across the firm. The role applies advanced, multidisciplinary expertise in financial markets, applied mathematics, statistics, econometrics, and computer science to identify, assess, and challenge situations where models underlying critical business operations may fail, exposing BNY to monetary loss, regulatory censure, reputational damage, or systemic risk.

This position is focused on GenAI and Wealth Models and is located in New York City, New York.

Responsibilities

• Lead the Model Risk Management framework for a defined portfolio of models (e.g., pricing, risk, capital, stress testing, AI/ML, and valuation 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.
• Typically, 12-15 years of relevant experience.
• 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.

About Us

At BNY, our culture drives both company success and employee growth. As a leading global financial services company at the heart of the global financial system, we influence nearly 20% of the world’s investible assets. Our teams harness cutting-edge AI and breakthrough technologies to collaborate with clients, delivering transformative solutions that redefine industries and uplift communities worldwide. Recognized as a top destination for innovators, BNY is where bold ideas meet advanced technology and exceptional talent.

Benefits

• Highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and a pay-for-performance philosophy.
• Access to flexible global resources and tools for your life’s journey.
• Focus on health, personal resilience, and financial goals, including generous paid leaves (e.g., paid volunteer time).
• Eligibility for an annual discretionary incentive award.
• 401(k) plan participation.
• Company-sponsored medical, dental, vision, and basic life insurance plans for employees and eligible dependents.
• Various paid time off benefits, such as vacation and sick time, depending on the position.

Pay

BNY assesses market data to ensure a competitive compensation package. The expected base salary for this position may vary depending on factors such as market location, job-related knowledge, skills, and experience. Base salary is part of a total rewards package, which may include eligibility for an annual discretionary incentive award.