Quantitative Risk, AVP

State Street•Boston, MA

5d•$90,000 - $157,500

About The Position

The Centralized Modeling & Analytics and Operations (CMAO) team within State Street’s Enterprise Risk Management organization is seeking an experienced quantitative analyst. CMAO provides analytics-based services and solutions to State Street business units, using data-driven approaches to support timely, informed decisions. This role is part of the CMAO team delivering modeling and analytics solutions to assess counterparty credit risk managed by State Street Global Markets. The supported portfolio includes financing solutions such as Agency Lending, Prime Services, and Secured Financing; interest-rate, FX, and equity derivatives; and Eligible Margin Loan in the Global Credit Financing business. The work has significant impact on business-as-usual risk management and regulatory CCAR deliverables. The successful candidate will contribute to model methodology research and development, build financial models and analytics, improve the existing codebase, document quantitative analysis and implementation, and establish ongoing model monitoring. The role also partners with control functions, business users, and IT teams to maintain governance and production processes, execute CCAR deliverables, and support routine risk management.

Requirements

Master’s or Ph.D. in a quantitative discipline such as Financial Mathematics, Financial Engineering, Mathematics, Statistics, Computer Science, or a related field.
2–4 years of work experience in financial modeling as a key contributor.
Demonstrated knowledge and experience developing or validating VaR, PFE, and CVA models.
Knowledge of derivatives, RMBS and equities pricing/modeling, yield curve building methodology, and interest-rate modeling.
Advanced programming skills in Python and SQL.
Self-motivation and attention to detail.
Ability to work independently on complex projects and contribute as a team player in a fast-paced, high-energy environment.
Strong verbal and written communication skills, including the ability to explain ideas, analysis, and complex concepts to broad audiences.
Ability to build credibility and collaborate effectively across the organization.

Nice To Haves

Experience in machine learning.
Familiarity with CCAR regulatory frameworks and corresponding requirements.

Responsibilities

Research, prototype, and determine model methodologies.
Develop and build financial models and analytics for the trading business using mathematical and computer science methods and tools.
Advance the existing codebase and propose new solutions and improvements.
Document development methodology, quantitative analysis, and implementation processes.
Design and implement model monitoring plans, including performance metrics, thresholds, and escalation plans.
Partner with Model Risk Management, Audit, and Financial Regulatory Assurance to support appropriate governance and control infrastructure.
Collaborate with business users and IT partners to establish production processes within the IT infrastructure.
Execute CCAR deliverables on time.
Support regular business-as-usual risk management activities and proactively resolve issues.

Benefits

401(k) retirement savings plan with company match.
Insurance coverage including basic life, medical, dental, vision, and long-term disability, with optional additional coverages.
Paid time off, including vacation, sick leave, short-term disability, and leave for family care responsibilities.
Access to an Employee Assistance Program.
Incentive compensation, including eligibility for annual performance-based awards, with certain sales-role exclusions.
Eligibility for certain tax-advantaged savings plans.
Inclusive development opportunities.
Flexible work-life support.
Paid volunteer days.
Employee networks.