Senior Quant Analyst, Model Risk (Hybrid)

State Street; United States; Hybrid; USD 90,000 - 158,000; Full time

Benefits offered by this job

401K with company match

Medical insurance

Paid time off

Employee Assistance Program

Performance-based awards

Tax-advantaged savings plans

Job summary

State Street in Boston is seeking an Assistant Vice President to join the SSM Model Risk team. The AVP will support model owners with statistical and financial modeling, testing, and documentation, using Python, R, and MATLAB.

A graduate quantitative degree and 3–5 years in model risk are preferred. Hybrid work arrangement allows balancing home and office, with responsibilities spanning monitoring plans, stress-testing, and regulator communications.

Qualifications

• Graduate degree in financial math/engineering/math/statistics or related quantitative discipline.
• 3–5 years of experience in the model risk field recommended.
• Advanced programming skills in Python, R or MATLAB; intermediate VBA and other languages.
• Java experience is a plus.

Responsibilities

• Support model owners in engagement-specific statistical and financial modeling and analyses, and in final deliverables.
• Assist Markets Risk and Capital Optimization with capital- and liquidity-related quantitative analyses.
• Develop customized solutions for independent model testing and document methodologies.
• Establish benchmarking and back-testing techniques based on model class, horizon, hedging implications.
• Identify key model risks by stress-testing inputs and parameters.
• Collaborate to design ongoing monitoring plans with performance metrics and escalation plans.
• Create first-line-of-defense documentation on model development, implementation and monitoring.
• Update models to meet internal validation requirements.
• Communicate modeling assumptions and results to regulators and stakeholders.

Skills

Quantitative analysis

Financial markets knowledge

Communication skills

Model risk understanding

Education

Graduate degree in Financial Mathematics/Engineering/Math/Statistics

Tools

Python

R

MATLAB

VBA

Job description

State Street in Boston is seeking an Assistant Vice President to join the SSM Model Risk team. The AVP will support model owners with statistical and financial modeling, testing, and documentation, using Python, R, and MATLAB.

A graduate quantitative degree and 3–5 years in model risk are preferred. Hybrid work arrangement allows balancing home and office, with responsibilities spanning monitoring plans, stress-testing, and regulator communications.