Quantitative Analyst, Officer, Hybrid

State Street; United States; Hybrid; USD 70,000 - 119,000; Full time

Benefits offered by this job

401K with company match

Health insurance

Paid time off

Employee Assistance Program

Bonus eligibility

Job summary

State Street Markets is seeking a Markets Quantitative Analyst, Officer to join the SSM Model Risk team in Boston. You will support model owners with statistical analyses, back-testing, and documentation to ensure robust model validation.

Hybrid work is available; strong programming in Python, R or MATLAB is required, plus knowledge of securities, derivatives and regulatory expectations. A graduate degree in a quantitative field is preferred with 0–3 years of experience.

Qualifications

• Graduate degree in a quantitative discipline such as Financial Mathematics or Statistics.
• 0-3 years of experience in the model risk field preferred.
• Advanced programming in Python, R or MATLAB.
• Intermediate VBA and Java experience is a plus.

Responsibilities

• Support model owners in statistical and financial modeling and deliverables.
• Conduct benchmarking and back-testing techniques for models.
• Identify model risks by stress-testing inputs and parameters.
• Collaborate on ongoing monitoring plans and documentation.

Skills

Quantitative analysis

Financial markets knowledge

Communication skills

Multitasking

Education

Graduate degree in quantitative discipline

Tools

Python

R

MATLAB

VBA

Java

Job description

Who we are looking for

State Street Markets ("SSM") is looking for an Officer 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 the industry's most innovative platforms, financing and portfolio solutions. Our capabilities are backed by proprietary, high-value 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

As Markets Quantitative Analyst, Officer, you will:

• 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.
• Develop 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, 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 first-line-of-defense documentation covering model development, implementation and ongoing monitoring.
• Work with model owners and developers to update models in line with 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.
• Ability to multitask and operate in a fast-paced, deadline-oriented environment.
• Strong verbal and written communication skills, with the ability to explain complex concepts, facilitate discussions and resolve conflicts among stakeholders with competing interests.

Education & Preferred Qualifications

• Graduate degree in a quantitative discipline, such as Financial Mathematics, Financial Engineering, Mathematics, Statistics or a related field.
• 0-3 years of experience in the model risk field preferred.
• Advanced programming skills in at least one supported statistical programming environment, including Python, R or MATLAB.
• Intermediate programming skills in VBA and other languages; Java experience is a plus.

Salary Range

$70,000 - $118,750 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

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