Quantitative Risk Analyst, Model Risk Management, Assistant Vice President

Overview

State Street’s Model Risk Management (MRM) function is seeking a Quantitative Analyst to join its Model Validation Group. The Quantitative Analyst will conduct model validation to ensure model risks are correctly identified, assessed, and managed. MRM’s validation work is focused on models in the following general areas: liquidity risk, asset liability management, interest rate risk and stress testing.

• Assessing model theory and assumptions as well as considering alternative modeling methods and approaches
• Testing and confirming model results by using documented procedures for running models
• Assessing computational accuracy by reviewing code documentation for proper model implementation, including the possible simulation of results
• Review and assess model changes and conduct targeted validation on significant model changes
• Assessing the integrity of data inputs
• Assessing the stability and robustness of models by conducting backtesting, sensitivity testing, and stress testing
• Presenting results of model validation work to senior management and making recommendations for improvements

• MS or PhD in Finance, Economics, Financial Engineering, Statistics, Math, or related field.
• 2-3 years of experience in model validation or other relevant experience in quantitative finance
• Excellent quantitative modeling, analytical, research, data analysis and programming skills (e.g. R, Python, SAS, Stata, SQL)
• Strong knowledge of theoretical and empirical finance across a broad range of products and asset classes
• Good written and verbal communication skills
• Strong project management skills exemplified by the ability to work independently on multiple projects and meet deadlines

$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);

and, eligibility for certain tax advantaged savings plans.

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