Credit Risk Lead, Vice President

State Street•Boston, MA

23h•Hybrid

About The Position

State Street Markets (“SSM”) is looking for a Vice President (”VP”) to join the SSM Risk and FRM team in Boston. The team manages Credit, Market, and Model Risk as the First Line of Defense across SSM’s business units, including Financing Solutions, FX Sales & Trading, Portfolio Solutions, and Global Link. Additionally, the team performs Financial Resource Management, covering allocation, monitoring, and optimization of capital, funding, and liquidity. Reporting to the Head of Credit Risk, MD this VP role is responsible for first line credit risk management across the business units in State Street Markets. Counterparty credit analysis experience combined with trading product knowledge and a collaborative approach are prerequisites for success. Internally, the VP will collaborate mainly with the various trading desks in SSM’s businesses, SSM Management, Enterprise Risk Management, and Product Development. External interactions will include meetings with clients, prospects and industry peers. The role is located in Boston, with a minimum of 4 days per week in the office.

Requirements

Bachelor's Degree or equivalent in an economics or business-related field.
5-10 years experience in counterparty credit risk preferred
Product and market knowledge in securities lending and prime brokerage
Willingness to learn OTC derivatives products including FX
Strong risk management and control focus
A demonstrated ability to multi-task and operate in a fast-paced, deadline-oriented environment
Strong verbal and written communication skills.

Nice To Haves

Advanced degree preferred.
Professional designation (CFA, FRM) preferred but not required

Responsibilities

Conduct credit reviews of counterparties and prospects within each SSM business line.
Negotiate client facing credit terms in legal agreements for SSM counterparties and support appropriate monitoring of ATEs
Conduct periodic and ad-hoc counterparty due diligence visits, including attendance by internal partners (ERM)
Provide SME input on product development and/or client-related projects in collaboration with ERM
Manage and train junior analysts as required, including product cross-training.
Manage the collection of up-to-date financial information for all of our counterparties.
Coordinate review and analyze credit utilization reports and investigate any over-limit conditions.
Respond quickly in times of counterparty stress, and contribute to efforts to reduce exposure when necessary.
Represent Front Office Credit Risk in global, business-wide meetings and updates.

Benefits

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
inclusive development opportunities
flexible work-life support
paid volunteer days
vibrant employee networks