Quantitative Analyst, AVP

State Street Corporation; Boston (MA); Hybrid; USD 90,000 - 158,000; Full time

Benefits offered by this job

401K match

Health insurance

Paid time off

Employee assistance

Performance-based awards

Tax-advantaged savings plans

Job summary

State Street Corporation, via its State Street Markets (SSM), seeks an Assistant Vice President to join the SSM Model Risk team in Boston. The role blends quantitative modeling, risk analysis and collaboration with business units to address model risk and regulatory requirements.

You will develop and review models, back-test methodologies, and support independent testing of trading algorithms while ensuring documentation and governance across the model lifecycle.

Qualifications

• Graduate degree in Financial Mathematics, Financial Engineering, Mathematics, Statistics or related quantitative discipline.
• 3-5 years of experience in the model risk field.
• Advanced programming skills in Python, R or MATLAB, with intermediate VBA and other languages.

Responsibilities

• Support model owners in engagement-specific statistical and financial modeling and analyses.
• Assist the Markets Risk and Capital Optimization team on capital- and liquidity-related analyses.
• Develop customized solutions for independent model testing and document methodologies.
• Establish benchmarking and back-testing techniques based on model class and horizon.
• Identify key model risks by stress-testing inputs and parameters.
• Collaborate to design and implement ongoing monitoring plans and performance metrics.
• Prepare first-line-of-defense documentation covering model development and monitoring.
• Update models to meet internal validation requirements.
• Conduct post-implementation reviews of trading algorithms and compliant testing.

Skills

Python

R

MATLAB

VBA

Java

Education

Graduate degree in Financial Mathematics/Financial Engineering/Mathematics/Statistics

Job description

Who we are looking for State Street Markets ("SSM") is looking for an Assistant Vice President ("AVP") to join the SSM Model Risk team in Boston. The SSM Model Risk team provides solutions to SSM business units, including Financing Solutions, FX Sales & Trading, Portfolio Solutions, GlobalLink, State Street Associates and Market Surveillance, allowing business units to address Model Risk requirements from internal oversight functions and external regulators.

Work arrangement

This role can be performed in a hybrid model, where you can balance work from home and office to match your needs and role requirements.

Why this role is important to us

The team you will be joining is a part of State Street Markets. As a leading provider of trading and lending solutions to the world’s institutional investors, we deliver innovative platforms, financing and portfolio solutions. Our capabilities are backed by proprietary research, insights and indicators that power clients’ investment decisions, accelerate performance and help investors stay ahead of shifting markets. Join us if making your mark in the capital markets industry from day one is a challenge you are up for.

What you will be responsible for

• Support model owners in the execution of engagement-specific statistical and financial modeling and analyses, and in the preparation of final model deliverables.
• Support the Markets Risk and Capital Optimization team on capital- and liquidity-related quantitative analyses.
• Assume a key role in developing customized solutions to perform independent model testing and document the development methodology and implementation process.
• Establish appropriate benchmarking and back-testing techniques based on the model class, purpose, required horizon, hedging implications and other relevant factors.
• Identify key model risks by stress-testing model inputs and parameters.
• Demonstrate model stability across alternative specifications and input ranges, including extreme values and boundaries of model effectiveness.
• Collaborate with model owners to design and implement ongoing monitoring plans, including performance metrics, thresholds and escalation plans.
• Develop comprehensive first-line-of-defense documentation covering model development, implementation and ongoing monitoring.
• Work with model owners and developers to update models to meet internal model validation requirements.
• Conduct post-implementation reviews of SSM proprietary trading algorithms, including code and strategy changes, compliance with the FX Global Code and independent testing of selected components.
• Communicate with quantitative professionals and developers to understand strategy changes and justify modeling assumptions and results to internal model validation and external regulators.
• Prepare and deliver engagement status updates to key stakeholders and manage workflows to ensure timely deliverables.

What we value

• Strong understanding of quantitative analysis methods in relation to financial institutions.
• Knowledge of financial markets, including securities lending, equities and derivatives, FX or electronic trading, is a plus.
• High-level understanding of capital- and liquidity-related regulations.
• Demonstrated ability to multitask and operate in a fast-paced, deadline-oriented environment.
• Strong verbal and written communication skills, with the ability to articulate complex concepts, facilitate discussions and resolve conflicts among stakeholders with competing interests.

Education & Preferred Qualifications

• Graduate degree in Financial Mathematics, Financial Engineering, Mathematics, Statistics or a related quantitative discipline.
• 3-5 years of experience in the model risk field recommended.
• Advanced programming skills in Python, R or MATLAB, with intermediate programming skills in VBA and other languages.
• Java experience is a plus.

Salary Range:

$90,000 - $157,500 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)
• 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.

Discover more information on jobs at StateStreet.com/careers Read our CEO Statement

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.

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 Read our CEO Statement