Market Risk Manager - Interest Rates, Vice President

State Street•Boston, MA

About The Position

State Street Global Treasury Risk Management (GTRM) provides second line oversight of trading market risk across Markets and Treasury divisions as well as capital, liquidity and investment risk oversight of the firm’s Treasury activities in the banking book. GTRM is a unit within the Financial Risk group of Enterprise Risk Management (ERM). The Market Risk Manager will provide global independent risk oversight of market risk, including identification of risks and drivers, establishment and maintenance of risk limits and other risk controls, measurement and analysis of risks, and monitoring and reporting of risks, including validation of position data and risk calculations. This position is for a self-motivated senior Market Risk Manager with a strong technical and quantitative aptitude, expert knowledge of traded products and their risks as well as the regulatory landscape and the ability to influence and engage senior stakeholders. The candidate will contribute to the establishment and maintenance of best practices and governance policies pertaining to report compilation, data integrity, and distribution.

Requirements

7+ years of experience in market risk, ideally within a major bank
A bachelors or advanced degree in economics, finance, a quantitative or other related field required
Familiarity with Foreign Exchange and Interest Rate Derivatives; in-depth knowledge of interest swaps, cross-currency swaps, forwards, FX NDFs, FX and IR options
Strong quantitative background, experience in risk modelling, ability to take model ownership and improve on existing risk models (Value-at-Risk, sensitivities, back-testing)
Excellent systems skills and ability to develop prototypes using Python and SQL
Critical thinking ability and analytical skills - able to identify problems and limitations, propose solutions, and proactively address these directly.
Ability to communicate and write clear and precise technical documentation describing processes and methodologies.
Comfortable in conflict resolution
Team player with unquestionable integrity and ethical standards

Nice To Haves

experience using Bloomberg/Reuters preferred

Responsibilities

Provide global independent risk oversight of market risk, including identification of risks and drivers, establishment and maintenance of risk limits and other risk controls, measurement and analysis of risks, and monitoring and reporting of risks, including validation of position data and risk calculations
Help develop and implement risk management systems (specifying requirements, supporting implementation and testing)
Prototyping and development of enhanced risk management tools
Collaborate with the Model Analytics team in implementation of market risk metrics and models
Perform stress testing, identify portfolio vulnerabilities and support the stress testing scenario design process
Monitor Market Risk limits and appropriately escalate exceptions
Identify risks and assess the implementation requirements for new products
Analyze, implement and ensure adherence to established and new regulatory requirements, like the Market Ris Rule, Fundamental Review of the Trading Book (FRTB), Volcker, and Swap Dealer requirements
Develop good working relationships with colleagues within Financial Risk and ERM, business units, support functions (e.g., operations, assurance functions) and technology. Interaction with traders and other support functions required
Contribute to risk and/or regulatory projects as required; independently driving forward assigned tasks

Benefits

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