State Street
Markets Senior Quantitative Analyst, Vice President
State Street, Boston, Massachusetts, us, 02298
Markets Senior Quantitative Analyst
For a complete understanding of this opportunity, and what will be required to be a successful applicant, read on. Location: Boston MA
State Street Markets ("SSM") is looking for a Markets Senior Quantitative Analyst, Vice President ("VP") to join the SSM Model Risk team in Boston. SSM Model Risk team provides solutions to SSM business units, including Financing Solutions, FX Sales & Trading, Portfolio Solutions, Global Link, State Street Associates, and SSM Market Surveillance, allowing business units to address Model Risk requirements from internal oversight functions and external regulators.
Overview The Markets Senior Quantitative Analyst, VP will collaborate with model owner(s) on leading execution of Model Risk regulatory requirements for all active and in development quantitative models and will support Model Governance Infrastructure implementation under supervision of SSM Model Risk Global Head. The VP is responsible for multiple facets of the overall project management and execution process, including:
Development, review, and documentation of front office models within different SSM business units
Justifying modeling assumptions and model results to internal model validation group
Preparation and delivery of engagement status updates to key stakeholders
Workflow management to ensure deliverables are prepared according to their timelines
The VP will collaborate with different business lines, and engage with internal model validation group.
Responsibilities
Lead the execution of engagement-specific statistical/financial modeling and analyses, and in preparation of final model deliverables
Lead on supporting SSM Risk and Capital Optimization team on quantitative analyses related to monitoring, forecasting and remediation of risk and regulatory resources
Assume 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 performance
Identify key model risks, by stress testing model inputs and parameters
Demonstrate 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 effectiveness
Collaborate with model owner in designing and implementing suitable and effective model ongoing monitoring plan including performance metrics, thresholds, and escalation plan
Develop comprehensive first line of defense documentation including model development, implementation, and ongoing monitoring documents
Work with model owners and developers on updating models to meet requirements from internal model validation group
Work on AI and GenAI related projects
Conduct post-implementation review of SSM proprietary trading algos, including:
Review code and strategy changes to make sure they are in line with expectation and in compliance of FX Global Code
Independent testing of selected key components of trading algos
Communication with quants and developers to understand strategy changes
Justifying modeling assumptions and model results to internal model validation group and external regulators
Preparation and delivery of engagement status updates to key stakeholders
Qualifications
Strong understanding of quantitative analysis methods in relation to financial institutions
Advanced 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 plus
Knowledge of financial markets (securities lending, equities and derivatives, FX or electronic trading, etc.) is a plus
High level understanding of capital and liquidity related regulations
A demonstrated ability to multi-task and operate in a fast-paced, deadline-oriented environment
Strong 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 interests
Graduate degree in a quantitative discipline (Financial Mathematics, Financial Engineering, Mathematics, Statistics, or a related field)
5 to 8 years of working experience in model risk field preferred
Are you the right candidate?
Yes!
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:
$120,000 - $187,500 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
For a complete understanding of this opportunity, and what will be required to be a successful applicant, read on. Location: Boston MA
State Street Markets ("SSM") is looking for a Markets Senior Quantitative Analyst, Vice President ("VP") to join the SSM Model Risk team in Boston. SSM Model Risk team provides solutions to SSM business units, including Financing Solutions, FX Sales & Trading, Portfolio Solutions, Global Link, State Street Associates, and SSM Market Surveillance, allowing business units to address Model Risk requirements from internal oversight functions and external regulators.
Overview The Markets Senior Quantitative Analyst, VP will collaborate with model owner(s) on leading execution of Model Risk regulatory requirements for all active and in development quantitative models and will support Model Governance Infrastructure implementation under supervision of SSM Model Risk Global Head. The VP is responsible for multiple facets of the overall project management and execution process, including:
Development, review, and documentation of front office models within different SSM business units
Justifying modeling assumptions and model results to internal model validation group
Preparation and delivery of engagement status updates to key stakeholders
Workflow management to ensure deliverables are prepared according to their timelines
The VP will collaborate with different business lines, and engage with internal model validation group.
Responsibilities
Lead the execution of engagement-specific statistical/financial modeling and analyses, and in preparation of final model deliverables
Lead on supporting SSM Risk and Capital Optimization team on quantitative analyses related to monitoring, forecasting and remediation of risk and regulatory resources
Assume 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 performance
Identify key model risks, by stress testing model inputs and parameters
Demonstrate 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 effectiveness
Collaborate with model owner in designing and implementing suitable and effective model ongoing monitoring plan including performance metrics, thresholds, and escalation plan
Develop comprehensive first line of defense documentation including model development, implementation, and ongoing monitoring documents
Work with model owners and developers on updating models to meet requirements from internal model validation group
Work on AI and GenAI related projects
Conduct post-implementation review of SSM proprietary trading algos, including:
Review code and strategy changes to make sure they are in line with expectation and in compliance of FX Global Code
Independent testing of selected key components of trading algos
Communication with quants and developers to understand strategy changes
Justifying modeling assumptions and model results to internal model validation group and external regulators
Preparation and delivery of engagement status updates to key stakeholders
Qualifications
Strong understanding of quantitative analysis methods in relation to financial institutions
Advanced 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 plus
Knowledge of financial markets (securities lending, equities and derivatives, FX or electronic trading, etc.) is a plus
High level understanding of capital and liquidity related regulations
A demonstrated ability to multi-task and operate in a fast-paced, deadline-oriented environment
Strong 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 interests
Graduate degree in a quantitative discipline (Financial Mathematics, Financial Engineering, Mathematics, Statistics, or a related field)
5 to 8 years of working experience in model risk field preferred
Are you the right candidate?
Yes!
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:
$120,000 - $187,500 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