Enterprise Risk Management Financial Risk team is currently looking for Summer Interns to support several varied project areas where the candidate will be involved, enabling the candidate to see a very broad range of areas and activities within the bank. The Financial Risk team has 5 open positions in groups noted below:

Centralized Modeling, Analytics and Operations - Global Markets Modeling:

• Support the CMAO team in providing modeling and analytics solutions to assess counterparty credit risk and market risk
• Support credit VaR model development and testing for the State Street Global Markets Security Finance portfolio
• Support the CMAO Team with reporting (daily, weekly, monthly, ad hoc) and general BAU functions

• Participant in model and algorithm design, development, and implementation using advanced numerical and computational techniques.
• Develop methodologies, algorithms and diagnostic tools for testing model stability and performance.
• Support IT integration, QA/UAT and deployment of risk library, operationalizing and productizing resulting models and solutions
• Engage business risk managers, clients and other partners to present the model, technology platform and tools.

• Assist in running the credit risk models/methodologies (e.g., PD/LGD/EAD) used in critical risk management processes such as CECL/BASEL/Quarterly Stress Testing.
• Perform model output analysis by working with sector credit risk experts and economists to ensure results align logically with the given economic scenarios and portfolio characteristics.
• Conduct sensitivity analysis to evaluate the impact on credit risk metric or model output to variations in key inputs; draw meaningful conclusions on the robustness of credit risk tools in relation to intended usage scenarios.
• Conduct attribution analysis to identify and quantify the impact of factors (e.g., scenarios, portfolio composition, model overlays) on observed or forecasted outcomes.

• Support the GTRM Team with reporting (daily, weekly, monthly, ad hoc) and general BAU functions
• Analyze material factors that affect interest rate risk (IRR) exposures, including underlying drivers of risk change
• Support and enhance the assessment, monitoring and reporting of interest rate risks
• Engage in key IRR framework enhancement projects. Provide insightful opinions to help drive the direction of projects and influence the final outcomes
• Perform and document analyses and processes for the enhancement of the team's overall framework
• Support management's decision making process by providing data-driven, transparent, and comprehensive analyses on IRR topics.

• Support the Market Risk Team with reporting (daily, weekly, monthly, ad hoc) and general BAU functions
• Provide risk oversight & escalation for global FX trading business, including daily monitoring of market risk measures, trading activity and counterparty credit exposures.
• Develop framework for FX risk guidelines, limit structures, and other governance items.
• Real-time engagement with FX trading desk and senior management (CRO) to monitor current trading, hedging strategies and recognize market developments.
• Actively identify, evaluate, measure, communicate, enhance and enforce risk.

• Education: Undergraduate in economics/mathematics/statistics/engineering
• Technical: Strong programming skill: Python/R/SQL/Power BI
• Soft skills: Attention to detail, organized, proactive, not afraid to escalate issues/ask questions
• Organizational: Good communication skills and the ability to follow a structured approach to work