Market Risk Manager - Capital Markets & Product Risk Oversight, VP

State Street•Boston, MA

23h•$120,000 - $202,500

About The Position

State Street's Global Treasury Risk Management team is seeking a senior risk professional to provide independent second-line oversight of market risk across new and existing products, business lines, and strategic initiatives. The role sits at the intersection of Markets, Treasury, Product Development, and Enterprise Risk Management, with responsibility for product-level assessments across both the banking book and trading book. The successful candidate will help ensure risk-taking aligns with the firm's risk appetite, regulatory expectations, and strategic objectives, and will contribute to the evolution of State Street's market risk framework. The role leads reviews of new products, business lines, strategic initiatives, and material changes to existing activities. It assesses exposures, proposes risk limits and monitoring frameworks, challenges first-line assumptions and reporting, and collaborates with Modeling & Analytics teams on risk measurement capabilities. The position also supports regulatory examinations, audits, rating agency reviews, and governance committees, and contributes to market risk policies, methodologies, controls, and governance processes. Oversight spans capital markets and treasury activities, including money market instruments such as repurchase and reverse repurchase agreements, fixed income securities, asset-backed securities and structured products, foreign exchange products and derivatives, interest rate derivatives, and funding, liquidity management, investment, and hedging activities. The position has significant organizational visibility and regular engagement with senior management, risk governance committees, auditors, and regulators.

Requirements

At least 6 years of experience in market risk, treasury risk, asset-liability management, balance sheet risk, capital markets risk management, or related financial risk disciplines.
Experience working within a large bank, custodian bank, broker-dealer, or other complex financial institution.
Strong knowledge of financial instruments, including fixed income securities, structured assets, money market instruments, foreign exchange products, and derivatives.
Experience assessing, overseeing, or managing market risk associated with financial products, portfolios, treasury activities, or business initiatives.
Familiarity with trading book market risk, interest rate risk in the banking book, treasury, or capital markets regulatory frameworks.
Strong analytical capabilities supported by education in finance, economics, quantitative disciplines, or related fields.
Excellent verbal and written communication skills, including experience presenting analyses and recommendations to senior stakeholders.

Nice To Haves

Experience with product governance, new business initiatives, new product approval processes, or related risk oversight activities.
Experience with market risk, balance sheet risk, interest rate risk, treasury risk, or asset-liability management frameworks.
Experience with securities financing transactions, equities, or other capital markets products.
Familiarity with U.S. and international regulatory expectations affecting market risk in both the banking book and trading book.
Knowledge of market risk measurement methodologies, scenario analysis, stress testing, capital planning, and risk limit frameworks.
Understanding of financial institution balance sheets and the impact of central bank policy changes on market and balance sheet risk exposures.
Advanced degree in Finance, Economics, Mathematics, Statistics, Engineering, Computer Science, or a related field.
CFA, FRM, or another relevant professional designation.

Responsibilities

Lead independent market risk reviews of new products, business lines, strategic initiatives, and material changes to existing activities.
Represent second-line risk throughout the product and business lifecycle, partnering with stakeholders across Treasury, Markets, Finance, Compliance, Legal, Model Risk Management, and Enterprise Risk.
Evaluate proposed products, transactions, and initiatives, providing independent challenge and assessing alignment with risk appetite, governance standards, and regulatory expectations.
Assess market risk exposures embedded in products and business activities across the banking book and trading book.
Design, propose, and review market risk limits, monitoring frameworks, controls, and risk measurement methodologies for new and evolving activities.
Provide independent oversight of trading market risk, interest rate risk, credit spread risk, investment portfolio mark-to-market risk, and other balance-sheet-related market risk exposures.
Review and challenge first-line assumptions, risk assessments, methodologies, and reporting.
Collaborate with Modeling & Analytics teams to enhance risk measurement capabilities, develop metrics, and strengthen market risk infrastructure.
Periodically assess market risk vulnerabilities in relation to applied instruments, materiality, and exposure, and propose solutions for the trading and banking books.
Support regulatory examinations, internal audits, rating agency reviews, and governance committee presentations by preparing analyses, reporting, and risk assessments.
Contribute to market risk policies, governance standards, methodologies, and best practices.
Help design and implement enhanced market risk governance processes.
Enhance and formalize the framework for assessing and approving new products and business activities.
Create an inventory of products used in the trading and banking books.
Develop processes to identify and evaluate material changes to existing products, regions, currencies, and business lines.

Benefits

401(k) retirement savings plan with company match
Basic life, medical, dental, vision, and long-term disability insurance, with other optional coverages
Paid time off, including vacation, sick leave, short-term disability, and family care responsibilities
Employee Assistance Program
Eligibility for annual performance-based incentive 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
Employee networks