Market Risk Manager - Capital Markets, VP

State Street; Boston (MA); On-site; USD 120,000 - 203,000; Full time

Job summary

State Street is seeking a Senior Market Risk Manager in Boston to provide second-line oversight of capital markets products for both trading and banking book.

You will lead risk analysis, establish risk limits, and collaborate with modeling teams to implement robust risk metrics while engaging with senior management and regulatory exams.

Qualifications

• 7+ years of experience in roles related to trading market risk or asset-liability management with a focus on capital markets or balance sheet/capital management.
• Undergraduate degree in Finance, Economics, Business or quantitative field; graduate degree or professional designations like CFA/FRM are a plus.
• Experience with US and EU regulation on trading and market risk.
• Deep knowledge of financial instruments, balance sheet structure, hedging, funding transfer pricing and risk measures.
• Strong communication skills to present analyses to senior management.

Responsibilities

• Provide expertise on capital markets products, ensuring risk analysis and coverage through new business product approval process.
• Perform independent assessments of the balance sheet interest rate risk management framework.
• Provide independent risk oversight of market risk, including identification of risks, limits, controls, and risk reporting.
• Participate in special projects and review business strategies and new initiatives within risk appetite.
• Provide review and challenge to first line risk profile and report changes timely and accurately.
• Support development of policies, guidelines and SOPs according to regulatory requirements and best practices.
• Develop and improve risk measurements and methodologies for changing conditions and new initiatives.
• Prepare analyses, reports for senior management, audits, regulators and rating agencies.
• Collaborate with Modelling and Analytics in implementing risk metrics and models.
• Support risk/regulatory projects and remediation; drive assigned tasks forward.

Skills

Capital markets knowledge

Risk management

Quantitative skills

Regulatory knowledge

Communication

Education

Bachelor's degree in Finance, Economics, Business or quantitative field

Graduate degree or CFA/FRM designation is a plus

Job description

Job Description

State Street Global Treasury Risk Management (GTRM) provides second line oversight of trading market risk across Markets and Treasury divisions as well as liquidity risk, interest rate risk (IRR), investment portfolio mark-to-market risk, and capital risk oversight of the firm’s banking book.

GTRM is a unit within the Financial Risk group of Enterprise Risk Management (ERM). We seek to hire an experienced senior Market Risk Manager to provide second line oversight of capital markets products for both trading and banking book.

Position and Primary Duties and Responsibilities

The Market Risk Manager will:

• Provide expertise on capital markets products, ensuring risk analysis and coverage through new business product approval process


• Perform independent assessments of the overall accuracy, effectiveness, and reliability of the balance sheet interest rate risk management framework


• Provide independent risk oversight of market risk, including identification of risks and drivers, establishment and maintenance of risk limits and other risk controls, measurement and analysis of risks, and monitoring and reporting of risks, including validation of position data and risk calculations


• Participate in special projects and review business strategies and new business initiatives to ensure business objectives are met within the firm’s overall risk appetite.


• Provide review and challenge to first line risk profile and report on changes timely and accurately.


• Support the development of policies, guidelines and operating procedures, according to regulatory requirements and industry best practices.


• Develop and/or improve risk measurements and methodologies to capture all key risk factors as market condition changes and for new business initiatives.


• Prepare analyses, reports and data for senior management, audit, regulatory communication and exams, and rating agency requests.


• Collaborate with the Modelling and Analytics team in implementation of risk metrics and models


• Support risk and/or regulatory projects and remediation as required; independently driving forward assigned tasks

Qualifications, Skills and Experience

• 7+ years of experience in roles related to trading market risk or asset-liability management with a focus on capital markets or balance sheet / capital management.


• At least undergraduate degree in Finance, Economics, Business or quantitative field (such as mathematics, statistics, computer science, etc.) with a proven affinity to financial services; graduate degree or professional designations such as CFA or FRM are a plus.


• Experience with US and EU regulation on trading and market risk.


• Deep knowledge of financial instruments, balance sheet structure and hedging, fund transfer pricing, and applicable risk measures.


• In-depth understanding of financial statements of financial institutions and impacts from central bank policy changes to financial institutions.


• Good working knowledge of financial products, such as fixed income securities, foreign exchange products, interest rate derivatives, equity and securities lending.


• Strong verbal and written communication skills, with ability to articulate effectively ideas and analysis to senior management.


• Self-starter with critical thinking skills and strong financial acumen, willingness to work in a fast-paced and high-energy level environment, and highly organized to manage competing deadlines.


• Team player with unquestionable integrity and ethical standards. Ability to gain trust and respect of business partners.

Salary Range:

$120,000 - $202,500 Annual

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 https://hrportal.ehr.com/statestreet/Home.

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.

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It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.