Senior Specialist, Model Risk Developer

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.

At BNY, our culture allows us to run our company better and enables employees’ growth and success. 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. Every day, our teams harness cutting-edge AI and breakthrough technologies to collaborate with clients, driving 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. Together, we power the future of finance – and this is what #LifeAtBNY is all about. Join us and be part of something extraordinary.

At BNY, our culture speaks for itself, check out the latest BNY news at BNY Newsroom & BNY LinkedIn

 Here’s a few of our recent awards:

• America’s Most Innovative Companies, Fortune, 2025
• World’s Most Admired Companies, Fortune 2025
• “Most Just Companies”, Just Capital and CNBC, 2025

Our Benefits and Rewards:

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.

BNY assesses market data to ensure a competitive compensation package for our employees. The expected base salary for this position when employment commences can be found in the Job Info section at the bottom of the posting. 

Base salary offered may vary depending on multiple individualized factors, including market location, job-related knowledge, skills, and experience. Base salary is only part of the total rewards package, which may include eligibility for an annual discretionary incentive award. Subject to the terms and conditions of the applicable plans then in effect, eligible employees may enroll in a 401(k) plan as well as participate in Company-sponsored medical, dental, vision, and basic life insurance plans for the employee and the employee’s eligible dependents. Eligible employees also may receive other benefits (including various paid time off benefits, such as vacation and sick time), dependent on the position offered. Details of participation in these benefit plans will be provided if an employee receives an offer of employment.

If hired, the employee will be in an “at will” position and the Company reserves the right to modify base salary (as well as any other discretionary payments or compensation programs) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors.