Markets Senior Quantitative Analyst, Assistant Vice President, Hybrid
About The Position
State Street Markets is seeking an Assistant Vice President to join its Model Risk team in Boston. The team provides solutions to State Street Markets business units—including Financing Solutions, FX Sales & Trading, Portfolio Solutions, GlobalLink, State Street Associates and Market Surveillance—so they can address model risk requirements from internal oversight functions and external regulators. The role can be performed in a hybrid arrangement, balancing work from home and the office according to individual needs and role requirements. The analyst supports model owners with statistical and financial modeling, analysis and preparation of model deliverables. The position also supports capital- and liquidity-related quantitative analyses, develops customized independent model-testing solutions, establishes appropriate benchmarking and back-testing, identifies model risks through stress testing, and evaluates model stability across alternative specifications and input ranges. The analyst works with model owners on ongoing monitoring plans and model updates, and prepares comprehensive first-line-of-defense documentation. The role includes post-implementation reviews of State Street Markets proprietary trading algorithms, including reviewing code and strategy changes, assessing compliance with the FX Global Code and independently testing selected components. The analyst communicates with quantitative professionals and developers, explains modeling assumptions and results to internal model validation and external regulators, and provides stakeholders with engagement updates while managing workflows and deliverables. State Street describes itself as a provider of trading and lending solutions to institutional investors, with platforms, financing and portfolio solutions supported by proprietary research, insights and indicators. Employees are offered inclusive development opportunities, flexible work-life support, paid volunteer days and employee networks.
Requirements
- Graduate degree in Financial Mathematics, Financial Engineering, Mathematics, Statistics or a related quantitative discipline.
- Three to five years of experience in the model risk field is recommended.
- Advanced programming skills in Python, R or MATLAB.
- Intermediate programming skills in VBA and other languages.
- Strong understanding of quantitative analysis methods in relation to financial institutions.
- High-level understanding of capital- and liquidity-related regulations.
- Ability to multitask and operate in a fast-paced, deadline-oriented environment.
- Strong verbal and written communication skills, including the ability to explain complex concepts, facilitate discussions and resolve conflicts among stakeholders with competing interests.
Nice To Haves
- Knowledge of financial markets, including securities lending, equities and derivatives, FX or electronic trading.
- Experience with Java.
Responsibilities
- Support model owners in engagement-specific statistical and financial modeling and analyses, and prepare final model deliverables.
- Support the Markets Risk and Capital Optimization team with capital- and liquidity-related quantitative analyses.
- Develop customized solutions for independent model testing and document development methodology and implementation processes.
- Establish benchmarking and back-testing techniques appropriate to model class, purpose, horizon, hedging implications and other relevant factors.
- Identify model risks by stress-testing inputs and parameters.
- Demonstrate model stability across alternative specifications and input ranges, including extreme values and boundaries of effectiveness.
- Collaborate with model owners to design and implement ongoing monitoring plans, including performance metrics, thresholds and escalation plans.
- Develop first-line-of-defense documentation covering model development, implementation and ongoing monitoring.
- Work with model owners and developers to update models to meet internal model validation requirements.
- Conduct post-implementation reviews of proprietary trading algorithms, including code and strategy changes, FX Global Code compliance and independent testing of selected components.
- Communicate with quantitative professionals and developers to understand strategy changes and justify modeling assumptions and results to internal model validation and external regulators.
- Prepare engagement status updates for stakeholders and manage workflows to ensure timely deliverables.
Benefits
- 401(k) retirement savings plan with company match.
- Medical, dental, vision, basic life and long-term disability insurance, plus optional additional coverage.
- Paid time off, including vacation and sick leave, and support for short-term disability and family-care responsibilities.
- Employee Assistance Program.
- Incentive compensation, including eligibility for annual performance-based awards, subject to stated exclusions.
- Eligibility for certain tax-advantaged savings plans.
- Inclusive development opportunities.
- Flexible work-life support.
- Paid volunteer days.
- Employee networks.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
