Job Description
Who we are looking for
State Street’s Model Risk Management (MRM) function is seeking a Quantitative Analyst (AVP) 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 used to make business and operating decisions in the general areas of credit risk, market risk, securities finance, asset management, compliance, stress testing, etc. The work of the Quantitative Analyst will be guided by Senior Quantitative Analysts who lead model reviews.
Why this role is important to us
The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role, you will strive for cutting-edge solutions that are straightforward and scalable. You will help us build resilience and execute day-to-day deliverables at our best. Join us if making your mark in the financial services industry from day one is a challenge you are up for.
What You Will Be Responsible For
As Quantitative Analyst you will:
- Assess model theory and assumptions as well as considering modeling methods and alternate options.
- Test and confirm model results by using documented procedures for running models.
- Assess computational accuracy by reviewing code documentation for proper model implementation, including the possible simulation of results.
- Assess the integrity of data inputs.
- Assess the model performance, stability, and robustness by conducting backtesting, sensitivity testing, and stress testing.
- Present results of model validation work to senior management and make recommendations for improvements.
What We Value
These skills will help you succeed in this role:
- Training in Artificial Intelligence (AI) and Machine Learning (ML) modeling techniques.
- Knowledge of financial markets and products.
- Strong written and verbal communication skills.
- Good project management skills, with the ability to work independently on multiple tasks and/or projects.
Education & Preferred Qualifications
- MS or PhD in Finance, Economics, Financial Engineering, Statistics, Math, or related field; senior positions require 2-3 years of model validation experience in a financial services firm.
- Work experience in a Financial Services Firm preferred. Model Validation experience a plus.
- Excellent quantitative modeling, analytical, research, and programming skills (e.g., R, Python, SAS, MATLAB, SQL, VBA, and other programming languages).
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 ID: R-745181
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