Senior Vice President, Market And Liquidity Risk

Overview

The Treasury department is responsible for the management of BNY Mellon’s ~$406 Billion balance sheet. It assumes a variety of risks in its activities to generate greater than $4 Billion in annual net interest income, largely through the monetization of the firm’s deposit base with a $135 Billion investment portfolio of fixed income securities. Additionally, the Treasury drives the allocation of the Firm’s financial resources across the company, balancing capital and Liquidity needs and demands and works to create the appropriate financial incentives for the businesses using these scare resources.

The Portfolio Risk function is the second line of defense responsible for the oversight of the management of investment portfolio mark-to-market risk at BNY Mellon. The team monitors Treasury’s deployment of the Firm’s financial resources as investments in a global portfolio of structured and non-structured fixed income securities positioned across entities, ensuring that risks and trade-offs are appropriately identified, measured, controlled, and reported. Structured assets to name a few include ABS securities, Non Agency securitized products and Collateralized Loan obligations. Non structured assets include Agency MBS, Sovereigns and Supranational securities. Key Treasury counterparts include the Portfolio Management Group, at the corporate level and across the world. Asset-Liability management, liquidity, and capital knowledge is critical to understanding deployment constraints and trade-offs. Portfolio Risk works very actively with the other Treasury Risk functions, and within Risk & Compliance functions relating to the management of mark-to-market risk including Traded Market Risk, Credit Risk, and Model Risk to understand a holistic risk profile of the business’ risk taking. The Portfolio Risk team also considers regulatory implications of investment activity. As BNY Mellon is a Global Systemically Important Bank (GSIB), the regulatory requirements and expectations for the Treasury and Treasury Risk are at the highest standard in the country.

The Principal, Portfolio Risk is an individual contributor working within the Portfolio Risk team and will be responsible for a variety of activities including:

• Develop an understanding of the end to end Risk Management process starting from Trade Capture, Models, and Risk limits across various asset classes. Build a foundation to review and challenge and improve the existing framework.
• Evaluate and present analysis on new risk taking initiatives raised by Portfolio Management group.
• Perform in depth risk analysis, reporting, and monitoring, in line with established practices.
• Conducting deep dives on asset classes and individual securities as well as end-to-end risk management evaluations covering surveillance, valuation, impairment, and stress modeling.
• Assisting in producing content for the Treasury Risk control committees and Business Committee, while building the necessary expertise in the area to participate in the future where relevant.
• Engaging with portfolio managers and business partner areas in respect of new products, business process changes, or other emerging risks.
• Working closely with Risk Managers from Liquidity Risk and Interest Rate risk to gain a holistic understanding of the guiding principles in those work streams.

Responsibilities and opportunity will evolve with the rapid development of the Portfolio Risk function, Treasury Risk function, and Risk & Compliance department.

Requirements:

Bachelor’s Degree or the equivalent combination of education and experience is required. Master’s degree preferred.

Family Requirements: Minimum of 8 years of total work experience with 10-12 years of experience in market or Liquidity Risk preferred. Experience in financial services is strongly preferred. Background in math, statistics, finance, economics, risk management, operations research, engineering or a similar field is preferred.

Discipline Requirements: Ability to analyze and report on financial products and financial risk, macroeconomic issues, interest rate risk, credit risk, Liquidity Risk, and relevant regulation. (e.g., Volcker, CCAR, DFAST, SLR, IRRBB).

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 $111,000 and $158,000 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.