Counterparty Credit Risk Manager, Prime Brokerage & Clearing, VP

State Street; Boston (MA); On-site; USD 120,000 - 202,500; Full time

Benefits offered by this job

401K with company match

Medical, dental, vision insurance

Paid time off

Job summary

State Street is seeking a VP Counterparty Credit Risk Manager for Prime Brokerage and Clearing. The role sits in Global CCR within Enterprise Risk Management and oversees counterparty credit risk across Prime Brokerage and Clearing activities in the SSM unit.

You will lead risk governance, negotiate legal agreements, and authorize trades based on stress analysis, while partnering with traders and IT teams to enhance risk systems and controls.

Qualifications

• Degree or post-graduate degree in relevant and/or quantitative subjects.
• Minimum of 7+ years hands-on industry experience in Prime Brokerage and Clearing CCR at a large banking institution.
• Ability to prototype implementations and work with IT and other groups.

Responsibilities

• Provide global independent credit risk oversight across Prime Brokerage and Clearing activities.
• Lead negotiation of legal agreements and supporting documentation.
• Authorize trades for counterparties based on pre-trade stress analysis and risk appetite.
• Improve CCR risk governance and monitoring practices.
• Contribute to expanding CCR limit framework and risk systems for new products.
• Develop relationships with traders, business analysts and support functions.

Skills

Credit risk oversight

Written communication

Independent work

Time management

Team collaboration

Critical thinking

Integrity/compliance

Education

Degree/post-graduate in relevant/quantitative subjects

Job description

VP Counterparty Credit Risk Manager - Prime Brokerage and Clearing

Who we are looking for

The position is for a Counterparty Credit Risk Manager within the Global CCR team, which is part of the wider Financial Risk team within the Enterprise Risk Management Division. Primary responsibility is the oversight of counterparty credit risk across Prime Brokerage and Clearing activities within the State Street Markets (SSM) business unit.

SSM, a division of State Street Bank & Trust Co., engages in a variety of capital markets business activities, including securities finance, brokerage services, and sales and trading in foreign exchange markets.

What you will be responsible for

• Provide global independent credit risk oversight of credit exposures across Prime Brokerage and Clearing activities including risk identification, risk measurement, risk controls and limits, documentation and risk monitoring and reporting
• Lead the negotiation of legal agreements and supporting documentation
• Authorize trades for counterparties across products based on pre-trade stress analysis and risk appetite
• Improve credit risk governance and monitoring practices for Prime Brokerage and Clearing risk management
• Contribute to enhancing CCR limit framework and risk management systems to support new business products and initiatives
• Develop good working relationships with traders and business analysts within SSM and other business units, and with support functions and technology departments
• Contribute to risk and/or regulatory projects; independently driving forward assigned tasks

What we value

These skills will help you succeed in this role

• Ability to identify problems and limitations, propose solutions or proactively address them directly
• Ability to communicate and write clear and precise presentations and technical documentation describing processes and risk methodologies
• Self-motivated and able to work independently with excellent time-management skills
• Ability to cooperate with others and foster an environment that supports effective teamwork
• Strong critical thinking ability; promote and support a culture of challenge and risk excellence
• Comfortable in conflict resolution as appropriate with others and in a matrix organization
• Highest standards of conduct and integrity and ensure compliance with accepted industry practice, company policies, statute and regulatory requirements

Education & Preferred Qualifications

• Degree/Post-graduate degree in relevant and/or quantitative subjects
• Minimum of 7+ years of hands-on industry experience with in-depth knowledge of Prime Brokerage and Clearing counterparty credit risk management at a large banking institution
• Ability to provide prototype implementations and work closely with IT and other groups

Salary Range: $120,000 - $202,500 Annual

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.

Employees are eligible to participate in State Street’s comprehensive benefits program, which includes our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and eligibility for certain tax advantaged savings plans.

For a full overview, visit State Street careers across the web. Discover more information on jobs at StateStreet.com/careers.

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

Discover more information on jobs at StateStreet.com/careers

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