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    GM Senior Quantitative Analyst,AVP - Boston, United States - State Street Corporation

    State Street Corporation
    State Street Corporation Boston, United States

    3 weeks ago

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    Description


    Who we are looking forState Street Global Markets ("SSGM") is looking for an Assistant Vice President ("AVP") to join the SSGM Model Risk team in Boston.

    SSGM Model Risk team provides solutions to SSGM business units, including Securities Finance, FX Sales & Trading, Portfolio Solutions, Global Link, State Street Associates, and Funding and Collateral Transformation ("FaCT"),Global Treasury and State Street Digital, allowing business units to address Model Risk requirements from internal oversight functions and external regulators.

    Why this role is important to usThe team you will be joining is a part of State Street Global Markets (SSGM).

    When owners and managers of institutional assets need research, trading, securities lending and innovative portfolio strategies, they turn to SSGM business unit.

    As our investment research and trading arm, SSGM's number one goal is to enhance and preserve our clients' portfolio values by applying technology, optimizing trading, and linking asset classes and markets across the world.

    Join us if making your mark in the capital markets industry from day one is a challenge you are up for.

    What you will be responsible forAs GM Senior Quantitative Analyst, AVP you willThe AVP will collaborate with model owner(s) in execution of Model Risk regulatory requirements for all active and in development quantitative models and will support Model Governance Infrastructure implementation under supervision of SSGM Model Risk Global Head.

    The AVP is responsible for multiple facets of the overall project management and execution process,


    including:


    Development, review, and documentation of front office models within different SSGM business unitsJustifying modeling assumptions and model results to internal model validation groupPreparation and delivery of engagement status updates to key stakeholdersWorkflow management to ensure deliverables are prepared according to their timelinesThe AVP will collaborate with different business lines, and engage with internal model validation group.

    Key ResponsibilitiesSupport model owner, in the execution of engagement-specific statistical/financial modeling and analyses, and in preparation of final model deliverablesSupport GM Risk and Capital Optimization team on capital and liquidity related quantitative analysesAssume a key role in developing customized solutions to perform independent model testing, document the development methodology and implementation process, specifically:Establish, based on class of model considered, appropriate benchmarking and back-testing techniques that would be reflective of the main model's purpose, horizon required, hedging implications and other important factors that might be relevant for holistic assessment of model performanceIdentify key model risks, by stress testing model inputs and parametersDemonstrate the stability of model over a variety of alternate specifications and range of input values which model is expected to operate.

    Evaluate extreme values for inputs to identify any boundaries of model effectivenessCollaborate with model owner in designing and implementing suitable and effective model ongoing monitoring plan including performance metrics, thresholds, and escalation planDevelop comprehensive first line of defense documentation including model development, implementation, and ongoing monitoring documentsWork with model owners and developers on updating models to meet requirements from internal model validation groupConduct post-implementation review of SSGM proprietary trading algos.


    including:


    Review code and strategy changes to make sure they are in line with expectation and in compliance of FX Global CodeIndependent testing of selected key components of trading algosCommunication with quants and developers to understand strategy changesJustifying modeling assumptions and model results to internal model validation group and external regulatorsPreparation and delivery of engagement status updates to key stakeholdersEducation & Preferred QualificationsDesired Skills & ExperienceStrong understanding of quantitative analysis methods in relation to financial institutionsAdvanced programming skills in at least one supported statistical programming environment (Python, R, or MATLAB), with intermediate programming skills in VBA and other languages.

    Java experience is a plusKnowledge of financial markets (security lending, equities and derivatives, FX or electronic trading, etc.) is a plusHigh level understanding of capital and liquidity related regulationsA demonstrated ability to multi-task and operate in a fast-paced, deadline-oriented environmentStrong verbal and written communication skills, with ability to articulate ideas, analysis and complex concepts effectively to individuals from various backgrounds and ability to facilitate discussions and resolve conflicts between various stakeholders with competing interestsGraduate degree in a quantitative discipline (Financial Mathematics, Financial Engineering, Mathematics, Statistics, or a related field)2 to 5 years of working experience in model risk field recommendedAbout 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 Range:
    $100,000 - $160,000 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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