Senior Specialist, Model Risk Developer

The Bank of New York MellonPittsburgh, PA

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Overview

Schedule

Full-time

Career level

Senior-level

Remote

On-site

Job Description

JobID: 82313

Category: Enterprise Risk Management

JobSchedule: Full time

Posted Date: 2026-09-21T13:01:51+00:00

JobShift: Day

Base Salary Min: 59000

We're seeking a future team member for the role of Senior Specialist, Model Risk Developer to join our Modeling & Analytics team. This role is located in Pittsburgh, PA or Lake Mary, FL.

Team Description

The Economic Forecasting Group (EFG) is part of the Risk Modeling and Analytics (RMA) group within the Risk & Compliance (R&C) division of the Bank of New York (BNY). EFG is responsible for scenario design and expansion in support of several exercises including (1) the BNY's regulatory stress-testing (including the CCAR/DFAST and EBA/ECB stress tests), (2) quarterly CECL/IFRS 9 reserve estimation, and (3) ad hoc scenario-based analyses as frequently as requested by senior management. The scenarios provided by EFG encompass the joint evolution of macroeconomic aggregates (GDP, consumption, unemployment, etc.) and financial market indicators spanning several distinct asset classes.

In this role, you'll make an impact in the following ways:

The candidate will be responsible for the development, enhancement and documentation of macroeconomic forecasting methodologies.
The candidate will also support the execution of macroeconomic forecasts that make up the scenarios, working closely with vendors and key forecasting partners in the company, and consumers of the scenarios and subject matter experts.
He/she will also assist in managing inbound questions, deliverables and ad-hoc requests with an emphasis on accuracy and timeliness of meeting deliverables on prescribed timelines.
This role requires regular (written and verbal) interactions with downstream modelers that uses macroeconomic scenarios and various units in the bank such as Finance, Treasury, 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 R is desired.

To be successful in this role, we're seeking the following:

Strong quantitative skills: Master's degree in a quantitative discipline, including Economics/ Econometrics/Quantitative Finance/Statistics/Mathematics, etc. is required; PhD is a plus
2+ years of work experience in research/forecasting/business analytics for a leading financial institution/central bank, consulting firm or similar, with a strong background/interest in economics
Experience in forecasting and statistical analysis of macroeconomic and/or financial modeling a plus
Superb analytical background with a solid theoretical foundation coupled with strong programming and documentation skills. Experience with programming languages/statistical software (e.g., R, Python, EViews, Stata) considered a plus
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 deliverables and meeting deadlines under pressure
Works well individually and in teams, shares information, supports colleagues, and encourages participation.

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FAQs About Senior Specialist, Model Risk Developer Jobs at The Bank of New York Mellon

What is the work location for this position at The Bank of New York Mellon?

This job at The Bank of New York Mellon is located in Pittsburgh, PA, according to the details provided by the employer. Some roles may also include multiple work locations depending on the requirement.

What pay range can candidates expect for this role at The Bank of New York Mellon?

Employer has not shared pay details for this role.

What employment applies to this position at The Bank of New York Mellon?

The Bank of New York Mellon lists this role as a Full-time position.

What experience level is required for this role at The Bank of New York Mellon?

The Bank of New York Mellon is looking for a candidate with "Senior-level" experience level.

What is the process to apply for this position at The Bank of New York Mellon?

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