Markets Senior Quantitative Analyst, Vice President

State Street•Boston, MA

19h•Onsite

About The Position

State Street Markets (SSM) is seeking a Vice President (VP) to join the SSM Model Risk team in Boston. This team provides solutions to various SSM business units, including Financing Solutions, FX Sales & Trading, Portfolio Solutions, Global Link, State Street Associates, and SSM Market Surveillance, to address Model Risk requirements from internal oversight functions and external regulators. The VP will collaborate with model owners on executing Model Risk regulatory requirements for quantitative models and will support Model Governance Infrastructure implementation under the supervision of the SSM Model Risk Global Head. The role involves project management and execution, including development, review, and documentation of front office models, justifying modeling assumptions, preparing status updates, and managing workflow timelines. The VP will also engage with internal model validation groups.

Requirements

Strong understanding of quantitative analysis methods in relation to financial institutions
Advanced programming skills in at least one supported statistical programming environment (Python, R, or MATLAB)
Intermediate programming skills in VBA and other languages
High level understanding of capital and liquidity related regulations
Demonstrated ability to multi-task and operate in a fast-paced, deadline-oriented environment
Strong verbal and written communication skills, with ability to articulate ideas, analysis and complex concepts effectively to individuals from various backgrounds
Ability to facilitate discussions and resolve conflicts between various stakeholders with competing interests
Graduate degree in a quantitative discipline (Financial Mathematics, Financial Engineering, Mathematics, Statistics, or a related field)
5 to 8 years of working experience in model risk field preferred

Nice To Haves

Java experience is a plus
Knowledge of financial markets (securities lending, equities and derivatives, FX or electronic trading, etc.) is a plus

Responsibilities

Lead the execution of engagement-specific statistical/financial modeling and analyses, and in preparation of final model deliverables
Support SSM Risk and Capital Optimization team on quantitative analyses related to monitoring, forecasting and remediation of risk and regulatory resources
Develop customized solutions to perform independent model testing, document the development methodology and implementation process
Establish appropriate benchmarking and back-testing techniques based on the class of model
Identify key model risks by stress testing model inputs and parameters
Demonstrate the stability of the model over a variety of alternate specifications and range of input values
Evaluate extreme values for inputs to identify boundaries of model effectiveness
Collaborate with model owners in designing and implementing suitable and effective model ongoing monitoring plans
Develop comprehensive first line of defense documentation including model development, implementation, and ongoing monitoring documents
Update models to meet requirements from internal model validation group
Work on AI and GenAI related projects
Conduct post-implementation review of SSM proprietary trading algos, including reviewing code and strategy changes, independent testing of selected key components, and communication with quants and developers
Justify modeling assumptions and model results to internal model validation group and external regulators
Prepare and deliver engagement status updates to key stakeholders

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
eligibility for certain tax advantaged savings plans
inclusive development opportunities
flexible work-life support
paid volunteer days
vibrant employee networks