Head of Model Risk Governance, Managing Director

Who we are looking forState Street’s Model Risk Management (MRM) is seeking a Head of Model Risk Governance (MD) who will lead the Model Risk Governance team within the Model Risk Management group. The Head of Model Risk Governance plays a crucial role in promoting risk excellence culture, partnering with stakeholders in ensuring the robustness of Model Risk Management framework.What you will be responsible forAs the Head of Model Risk Governance, you will work with Head of Model Risk Management toContinue to enhance the firm-wide model risk management (MRM) framework including policies and procedures, risk metrics & measurements, assessment of emerging risk, risk reporting and training in ensuring compliance with SR 11-7 and global regulatory requirementsWork with key stakeholders (e.g., 1LOD senior management, business risk management executives, etc.) across legal entities to enhance the oversight and control of the adherence to the MRM policyCollaborate with internal stakeholders across business units and legal entities to enhance alignment in implementing MRM policy and promote MRM best practicesSupport audits and regulatory examinations and activities, as well as remediation effortsRecruit, train and develop Model Risk Governance professionals based in US and Poland, while fostering a culture of collaborationManage the firm-wide model inventory and annual certification process to ensure its completeness and accuracyManage the model finding inventory while engaging stakeholders to ensure appropriate remediation actions are executed in a timely and effective mannerCollaborate with Global Head of Model Validation and Head of Model Risk Governance Technology in transforming and reengineering the current operating modelEstablish control framework and reporting to senior management, the Board of Directors, and regulatory supervisorsEstablish quality assurance processes in validation documentationWho we value A proven leader with strong written/verbal communication skills and the ability to build effective partnership across business lines and legal entitiesAn experienced model risk management expert with deep understanding of regulatory requirements regarding model risk management (such as SR 11-7, TRIM, etc.) and best practicesA self-motivated strategic thinker with track record in developing innovative solutions, driving for transformation and accelerating impactAn excellent people and project manager exemplified by the ability to develop and retain talents while driving for high quality resultsA thought-leader in quantitative modeling or model risk management fieldEducation & Preferred Qualifications10+  years of model risk management or relevant risk management experience in a banking environment supporting regulatory and audit exams, as well as the closures of regulator or audit findingsPast experience in managing a global risk management (E.g., model risk governance, or model validation team, etc.)Successful experience in communicating with global regulators (e.g., FRB, ECB, or SEC)Ability to clearly distill and communicate complex ideas into themes and insightsStrong organizational skill and technical skills (e.g., quantitative modeling, analytical, research, or programming skills)MS or PhD in Financial Engineering, Statistics, Math, or related fieldDeep knowledge of model life cycle management or past model development/ validation/ governance experience in a broad range of areas (such as stress tests, market/credit risk, asset valuation, compliance, etc.) strongly preferredExperience with Archer (a governance, risk, and compliance system) and model risk governance infrastructure a plusWorking knowledge in AI model governance or validation a plusAre you the right candidate? Yes!We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don’t necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.About State StreetWhat 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.Discover more at StateStreet.com/careersSalary Range: $175,000 - $287,500 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.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.State Street's Speak Up LineSummaryLocation: Boston, MassachusettsType: Full time