State Street Corporation
Quantitative Analyst/Model Risk Management, Assistant Vice President | Boston, M
State Street Corporation, 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 of models 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.
Salary Range:$90,000 - $142,500 AnnualThe 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.
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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 of models 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.
Salary Range:$90,000 - $142,500 AnnualThe 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.
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