Quantitative Risk, AVP

STATE STREET CORPORATION; Boston (MA); On-site; USD 90,000 - 158,000; Full time

Benefits offered by this job

401K with company match

Health insurance

Paid time off

Job summary

State Street Corporation's CMAO team seeks an experienced quantitative analyst to develop and validate financial models for the trading business, advancing code and documenting methodologies. You will collaborate with Model Risk Management, Audit, and Finance to ensure governance and timely CCAR deliverables.

The role requires a Masters or PhD in a quantitative field, 2–4 years of financial modeling experience, and strong Python and SQL skills.

Qualifications

• Masters or PhD in a quantitative discipline required.
• Minimum 2–4 years of financial modeling experience.
• Experience in developing or validating VaR, PFE and CVA models is expected.
• Strong programming in Python and SQL; knowledge of derivatives pricing and yield curve concepts is a plus.

Responsibilities

• Assume a key role in model methodology research, prototyping and determination.
• Develop and build out financial models and analytics for the trading business.
• Advance existing codebase and propose new solutions and improvements.
• Document development methodology, quantitative analyses, and implementation process.
• Design and implement model monitoring with performance metrics, thresholds, and escalation plan.
• Collaborate with Model Risk Management, Audit, and Regulatory teams to ensure governance.
• Work with IT and business users to establish production processes within IT infrastructure.
• Timely execute CCAR deliverables.
• Support regular BAU risk management activities and resolve issues.

Skills

Quantitative analysis

Statistical modeling

Communication skills

Education

Masters or PhD in quantitative discipline

Tools

Python

SQL

Job description

BACKGROUND

The Centralized Modeling & Analytics and Operations(CMAO) team within State Street’s Enterprise Risk Management (ERM) organization is looking for an experienced quantitative analyst to join our team. The CMAO organization provides analytics based services and solutions to business units across State Street. Our mission is to create value through data driven solutions enabling State Street and our business partners to make timely and informed decisions.

POSITION PRIMARY DUTIES AND RESPONSIBILITIES

• Assume a key role in model methodology research, prototyping and determination


• Develop and build out financial models and analytics for the trading business leveraging a wide variety of mathematical and computer science methods and tools


• Advance existing codebase and propose new solutions and improvements


• Document development methodology, quantitative analysis, and implementation process


• Design and implement suitable and effective model ongoing monitoring plan including performance metrics, thresholds, and escalation plan


• Work in close partnership with control functions such as Model Risk Management, Audit, and Financial Regulatory Assurance to ensure appropriate governance and control infrastructure


• Collaborate with business users and IT partners to establish appropriate production processes within the IT infrastructure


• Timely execute CCAR deliverables


• Support regular BAU risk management activities and proactively resolve issues

REQUIREMENTS

• Masters’ or PhD in a quantitative discipline (Financial Mathematics, Financial Engineering, Mathematics, Statistics, Computer Science, or a related field).


• Experience in machine learning is a plus


• Minimum 2-4 years of working experience in financial modeling field as a key contributor


• Demonstrated knowledge and experience developing or validating VaR, PFE and CVA models


• Demonstrated knowledge on derivatives, RMBS and equities pricing/modeling, yield curve building methodology, interest rate modelling


• Advanced programming skills in statistical programming environment Python and SQL are required


• Familiarity with CCAR regulatory frameworks and the corresponding requirements is a plus


• Self‑motivated and attention to detail


• Demonstrated ability to work independently on complex projects as well as the ability to be a team player in a fast‑paced, high‑energy level environment


• Strong verbal and written communication skills, with ability to articulate ideas, analysis and complex concepts effectively to broad audiences


• Competence and confidence to gain credibility and collaborate for success across the organization

SALARY RANGE

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.

BENEFITS

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.

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

JOB APPLICATION DISCLOSURE

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.

ACROSS THE GLOBE

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.

EOE STATEMENT (REPEATED)

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