Senior Market Risk Manager: Capital Markets Oversight

State Street Corporation; Clifton (NJ); On-site; USD 120,000 - 203,000; Full time

Job summary

State Street Corporation seeks a Senior Market Risk Manager to lead product-level market risk assessments across the banking book and trading book, shaping governance and risk measurement across Markets and Treasury activities.

You will collaborate with Treasury, Markets, Finance, Compliance, Legal, and Enterprise Risk Management to strengthen market risk oversight and governance across a broad set of products and initiatives.

Qualifications

• 6+ years of experience in market risk, treasury risk, ALM, balance sheet risk, capital markets risk management, or related financial risk disciplines.
• Experience working within a large bank, custodian bank, broker-dealer, or other complex financial institution.
• Strong knowledge of financial instruments including fixed income securities, structured assets, money market instruments, foreign exchange products, and derivatives.
• Experience assessing, overseeing, or managing market risk associated with financial products, portfolios, treasury activities, or business initiatives.
• Familiarity with market risk in the trading book, interest rate risk in the banking book, treasury, or capital markets regulatory frameworks.
• Experience with product governance, new business initiatives, new product approval processes, or related risk oversight activities a plus.
• Experience with market risk, balance sheet risk, interest rate risk, treasury risk, or asset-liability management frameworks.
• Familiarity with securities financing transactions, equities, or other capital markets products is beneficial but not required.
• Familiarity with U.S. and international regulatory expectations affecting market risk in both the banking book and trading book.
• Knowledge of market risk measurement methodologies, scenario analysis, stress testing, capital planning, and risk limit frameworks.
• Understanding of financial institution balance sheets and the impact of central bank policy changes on market and balance sheet risk exposures.
• Advanced degree in Finance, Economics, Mathematics, Statistics, Engineering, Computer Science, or a related field.
• CFA, FRM, or other relevant professional designation.

Responsibilities

• Lead independent market risk reviews of new products, business lines, strategic initiatives, and material changes to existing activities, ensuring market risk exposures are appropriately identified, measured, controlled, and governed.
• Serve as a primary second-line risk representative throughout the product and business lifecycle, partnering with stakeholders across Treasury, Markets, Finance, Compliance, Legal, Model Risk Management, and Enterprise Risk.
• Evaluate proposed products, transactions, and business initiatives, providing independent challenge and ensuring alignment with the firm's risk appetite, governance standards, and regulatory expectations.
• Assess market risk exposures embedded within products and business activities across both the banking book and trading book.
• Design, propose and review market risk limits, risk monitoring frameworks, controls, and risk measurement methodologies supporting new and evolving activities.
• Provide independent oversight of trading market risk, interest rate risk, credit spread risk, investment portfolio mark-to-market risk, and other balance-sheet-related market risk exposures.
• Review and challenge first-line assumptions, risk assessments, methodologies, and reporting to ensure an accurate representation of the firm's risk profile.
• Collaborate with Modeling & Analytics teams to enhance risk measurement capabilities, develop new metrics, and strengthen market risk infrastructure.
• Periodically assess State Street’s market risk vulnerabilities in terms of the applied instruments, materiality, and market risk exposure.
• Design and propose solutions commensurate to the identified vulnerabilities in both the trading and the banking books.
• Support regulatory examinations, internal audits, rating agency reviews, and governance committee presentations through the preparation of analyses, reporting, and risk assessments.
• Contribute to the development of market risk policies, governance standards, methodologies, and best practices that strengthen the firm's overall risk management framework.
• Help drive the design and implementation of enhanced market risk governance processes supporting sustainable business growth and regulatory compliance.

Skills

Strong analytical capabilities

Excellent verbal and written

Influence senior stakeholders

Education

Advanced degree in Finance, Economics, Mathematics, Statistics, Engineering, Computer Science

CFA, FRM, or other professional designation

Job description

State Street Corporation seeks a Senior Market Risk Manager to lead product-level market risk assessments across the banking book and trading book, shaping governance and risk measurement across Markets and Treasury activities.

You will collaborate with Treasury, Markets, Finance, Compliance, Legal, and Enterprise Risk Management to strengthen market risk oversight and governance across a broad set of products and initiatives.