State Street
Quantitative Analyst/Model Risk Management, Assistant Vice President
State Street, Boston, Massachusetts, us, 02298
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. MRM’s validation work is focused on models in the following general areas: compliance, credit risk, macroeconomic scenario generation, market risk, securities finance, asset management, and stress testing.
Specific tasks performed during model reviews include:
Assessing model theory and assumptions as well as considering modeling methods and alternate options.
Testing and confirming model results by using documented procedures for running models.
Assessing computational accuracy by reviewing code documentation for proper model implementation, including the possible simulation of results.
Assessing the integrity of data inputs.
Assessing the model performance, stability, and robustness by conducting backtesting, sensitivity testing, and stress testing.
Presenting results of model validation work to senior management and making recommendations for improvements.
Job Qualifications:
MS or PhD in Finance, Economics, Financial Engineering, Statistics, Math, or a related field.
Work experience in a Financial Services Firm preferred. Model Validation experience a plus.
Excellent quantitative modeling, analytical, research, and programming skills (e.g., MATLAB, R, Python, SAS, Stata, SQL).
Strong written and verbal communication skills.
Strong project management skills exemplified by the ability to work independently on multiple projects and meet deadlines.
About State Street:
What we do:
State Street is one of the largest custodian banks, asset managers, and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading, and investment management to institutional clients.
Work, Live and Grow:
We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance, and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.
Inclusion, Diversity and Social Responsibility:
We truly believe our employees’ diverse backgrounds, experiences, and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity, and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs, and access to employee networks that help you stay connected to what matters to you.
State Street is an equal opportunity and affirmative action employer.
Salary Range:
$90,000 - $142,500 Annual. The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.
Job Application Disclosure:
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
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Specific tasks performed during model reviews include:
Assessing model theory and assumptions as well as considering modeling methods and alternate options.
Testing and confirming model results by using documented procedures for running models.
Assessing computational accuracy by reviewing code documentation for proper model implementation, including the possible simulation of results.
Assessing the integrity of data inputs.
Assessing the model performance, stability, and robustness by conducting backtesting, sensitivity testing, and stress testing.
Presenting results of model validation work to senior management and making recommendations for improvements.
Job Qualifications:
MS or PhD in Finance, Economics, Financial Engineering, Statistics, Math, or a related field.
Work experience in a Financial Services Firm preferred. Model Validation experience a plus.
Excellent quantitative modeling, analytical, research, and programming skills (e.g., MATLAB, R, Python, SAS, Stata, SQL).
Strong written and verbal communication skills.
Strong project management skills exemplified by the ability to work independently on multiple projects and meet deadlines.
About State Street:
What we do:
State Street is one of the largest custodian banks, asset managers, and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading, and investment management to institutional clients.
Work, Live and Grow:
We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance, and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.
Inclusion, Diversity and Social Responsibility:
We truly believe our employees’ diverse backgrounds, experiences, and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity, and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs, and access to employee networks that help you stay connected to what matters to you.
State Street is an equal opportunity and affirmative action employer.
Salary Range:
$90,000 - $142,500 Annual. The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.
Job Application Disclosure:
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
#J-18808-Ljbffr