Quantitative Analyst, Model Risk Management, Assistant Vice President

State Street•Boston, MA

1d•$90,000 - $157,500

About The Position

State Street’s Model Risk Management (MRM) function is seeking a Quantitative Analyst to join its Model Validation team based in Boston, MA. The Quantitative Analyst will participate in model validation to ensure model risks are correctly identified, assessed, and managed. Why this role is important to us The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen, we need talented individuals like you. In this role, you will strive for cutting-edge solutions that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best. Join us if making your mark in the financial services industry from day one is a challenge you are up for.

Requirements

MS or PhD in a quantitative discipline (e.g. Finance, Statistics, Economics, Mathematics, Computer Science / Engineering, software engineering or equivalents); senior positions require 2-3 years of model validation experience in a financial services firm
Strong written and verbal communication skills
Excellent quantitative modeling, analytical, research, and programming skills (e.g., MATLAB, R, Python, SAS, Stata, SQL)
Strong project management skills exemplified by the ability to work independently on multiple projects and meet deadlines

Responsibilities

Perform validations on models such as market risk, counterparty credit risk and trading algo models
Interpret and apply regulatory requirements, such as Basel and CCAR, while staying current with developments in academic research, industry practices, and evolving regulatory expectations.
Analyze large-scale datasets using statistical techniques and machine learning methods to support model validation and performance assessment
Conduct quantitative analysis to evaluate and quantify model risks
Communicate with model developers and business to relay the issues and feedback and capture the action plans
Present results of model validation work to senior management and making recommendations for improvements

Benefits

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.
For a full overview, visit https://hrportal.ehr.com/statestreet/Home.
As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most.

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