Director, Model Risk Management Manager

BNY; Pune District; On-site; INR 4,000,000 - 7,000,000; Full time

Benefits offered by this job

Competitive compensation

Health and wellbeing programs

Paid leaves and benefits

Job summary

BNY is seeking a Director, Model Risk Management to lead the independent model risk framework within the Risk & Regulatory Compliance function in Pune. You will guide validation, governance, and remediation across high-impact models, partnering with model owners and second-line teams to ensure robust risk management.

The role emphasizes leadership and collaboration, with a focus on Wealth/Investment and GenAI models, driving standards and accountability across the model lifecycle.

Qualifications

• Advanced degree in a quantitative discipline (Math/Stats/ Econometrics/Quant Finance/CS).
• Typically 12–15 years of experience in relevant fields.
• Proven leadership and experience managing teams in regulated environments.
• Strong modeling, validation and communication skills to senior stakeholders.

Responsibilities

• Lead design and implementation of the enterprise model risk management framework with standards and procedures.
• Oversee independent validation, performance testing and qualitative assessment of high-impact models (market, credit, liquidity, etc.).
• Prioritize model risk coverage across portfolios with risk-based planning and timely validation cycles.
• Interpret model risk results for business leaders and promote best practices in design, documentation, use and controls.
• Represent Model Risk Management in regulatory interactions and governance forums with evidence-based materials.
• Build and mentor a high-performing model risk team with clear expectations and resource allocation.
• Focus area includes Wealth/Investment and GenAI models.

Skills

Quantitative modeling

Model validation

Statistical ML methods

Leadership

Stakeholder management

Regulatory knowledge

Education

Master’s or PhD in quantitative field

Job description

JOB DESCRIPTION

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 is all about. Join us and be part of something extraordinary.

We're seeking a future team member for the role of Director, Model Risk Management Manager to join our Risk & Regulatory Compliance function team. This role is located in Pune.

The Model Risk Management Director is a senior leader within the Risk & Regulatory Compliance function, aligned to the Model Risk Management job family. The role is responsible for establishing and overseeing the independent model risk framework for BNY, ensuring that models used across businesses and functions are conceptually sound, appropriately implemented, and fit for purpose. The incumbent leads teams that identify and assess situations where models underlying business operations may fail or perform outside expectations, potentially causing monetary loss, regulatory breaches, or reputational damage.

By applying advanced, multidisciplinary expertise in financial markets, applied mathematics, statistics, econometrics and computer science, the role drives robust model validation, challenge and governance standards across the model lifecycle. The Director partners closely with model owners, businesses, Engineering, Finance, and other second-line risk and compliance teams to promote transparent model risk identification, effective remediation, and sustainable controls.

In alignment with BNY's strategic pillars, the role helps safeguard the firm's financial resilience (by enhancing the integrity of risk, capital, valuation and decision-support models), supports scalable growth (by enabling responsible innovation in analytics, automation and AI), and strengthens operational excellence (through disciplined, data-driven risk management). Consistent with BNY's principles, the Director fosters a culture of accountability, constructive challenge, and collaboration, ensuring model risk decisions are grounded in ethical behavior, client focus, and sound judgment.

Primary Responsibilities

• Lead the design, implementation and continuous enhancement of the enterprise model risk management framework by setting standards, policies and procedures for model identification, validation, risk rating, monitoring and decommissioning, in line with regulatory expectations and internal risk appetite.
• Oversee and review independent quantitative validation, performance testing and qualitative assessment of high-impact and complex models (e.g., market, credit, liquidity, capital, pricing, forecasting, AI/ML) by demonstrating deep technical expertise and providing rigorous challenge to model assumptions, methodologies, data, and implementation.
• Direct the prioritization and coverage of model risk across portfolios by establishing risk-based planning, ensuring timely validation and review cycles, and escalating material model limitations, findings and remediation plans to senior management and governance committees.
• Serve as a key advisor to business leaders, model developers and first-line risk teams by interpreting model risk results, explaining implications for business decisions, and promoting best practices in model design, documentation, use, and controls.
• Represent Model Risk Management in regulatory interactions and internal governance forums by preparing and presenting clear, evidence-based materials on model risk frameworks, validation outcomes, remediation status and enhancements to satisfy supervisory and board-level expectations.
• Build, lead and develop a high-performing model risk team by setting clear expectations, providing coaching and technical mentorship, promoting an inclusive and collaborative culture, and ensuring effective allocation of resources to meet strategic and regulatory priorities.
• This role will be focused on Wealth/Investment and GenAI models.

Education / Qualifications

Advanced degree (Master’s or PhD) in a quantitative discipline such as Mathematics, Statistics, Econometrics, Quantitative Finance, Physics, Engineering or Computer Science, or equivalent experience.

Experience

Typically 12-15 years of experience

Skills

Advanced expertise in quantitative modeling, model validation techniques and statistical/machine learning methods, with the ability to challenge complex frameworks and communicate limitations clearly to senior stakeholders.

Strong leadership, stakeholder management and influencing skills, with demonstrated experience leading teams and driving outcomes across functions, businesses and geographies in a regulated environment.

Deep understanding of financial products, risk types and regulatory expectations for model risk management, with the ability to translate regulatory and risk requirements into practical frameworks, policies and controls.

BNY Newsroom

• 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.

ABOUT US

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 is all about. Join us and be part of something extraordinary.

ABOUT THE TEAM

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.