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Vice President, Liquidity Risk Oversight

2 months ago

Boston, United States BNY Mellon Full time

Description:

The Treasury department is responsible for the management of BNY Mellon's $412 billion balance sheet. It assumes a variety of risks in its activities to generate net interest income, largely through the monetization of the firm's deposit base through its 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 scarce resources.

The Liquidity Risk oversight function is within the second line of defense, responsible for the oversight of the Liquidity Risk at BNY Mellon. The team's duty is to ensure that Liquidity Risk is identified, measured, controlled, reported, and monitored by first line of defense. This responsibility includes:

  • Independently reviewing and challenging the first line of defense's Liquidity Risk management processes;
  • Owning the Liquidity Risk limit framework;
  • Reviewing and evaluating the Liquidity Risk aspects of significant new products/services, business process changes, and entity structures/acquisitions/divestures changes.

Liquidity knowledge is critical to understanding deployment constraints and trade-offs. The Liquidity Risk oversight team works very actively with the other Treasury Risk functions, and within Risk & Compliance functions relating to interest rate risk. The team also considers regulatory implications of balance sheet 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 Vice President II is an individual contributor working within the Liquidity Risk team and will be responsible for a variety of activities including:

  • Applying knowledge of market or liquidity risk management best practices and financial markets in support of analyzing, monitoring, and measuring risk.
  • Understanding the end-to-end Risk Management process, Models, and Risk limits to support review and challenge, and improvements to the existing framework.
  • Working with senior management roles to ensure that the appropriate Liquidity Risk policies, methods, standards, processes, and training are developed, applied, and understood by impacted stakeholders.
  • Prioritize resiliency in providing oversight, particularly in reviewing recovery and resolution planning (RRP) frameworks and associated practices.
  • Perform ongoing analysis and monitoring of risk exposures including liaising with business partners to understand and validate significant movements in metrics.
  • Producing (and may deliver) risk presentations to senior management. Anticipates and addresses Audit and regulatory concerns regarding the Liquidity Risk framework, governance, and operations to promote compliance with appropriate internal and external standards.
  • In partnership with management, establishes and supports the Liquidity Risk strategy for the business area(s) and is accountable for ensuring the implementation of that strategy.
  • Lead the development and implementation of tools and procedures to measure and monitor multiple risks hierarchically and across the entire organization including interacting with technology and first line colleagues. Develop and document processes to ensure consistency of practices within Treasury Risk.
  • Manage existing processes to ensure accurate and timely implementation.
  • Oversees, advises, and guides less experienced Liquidity Risk roles and may direct their work.

Requirements:

  • Bachelor's degree or the equivalent combination of education and experience is required. Master's degree preferred.
  • Minimum of 5 years of total work experience with 6-10 years of experience in market or liquidity risk preferred. Experience in financial services is preferred.
  • Background in math, statistics, finance, economics, risk management, operations research, or a similar field is preferred.
  • Knowledge of funding, cash flow projections, deposits (including operational and behavioral views), liquidity measures, liquidity stress testing, and relevant regulation (e.g., CLAR/ILAAP, LCR, NSFR, Recovery and Resolution Planning / RRP) is preferred.
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