Overview
Centralized Modeling, Analytics and Operations (CMAO), a team within State Street's Enterprise Risk Management (ERM) department, is looking for an experienced and highly motivated professional with strong quantitative, problem-solving, and communication skills. The primary focus for the position will be to develop quantitative models and tools to assess and analyze risks associated with State Street's investment portfolio which consists of various fixed income securities.
Position Duties and Responsibilities
The individual must have hands-on experience in quantitative modeling with strong programming skills in Python and R, and possess excellent verbal and written communication skills for interactions within CMAO.
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Primary Responsibilities
- The quantitative analyst is expected to utilize advanced quantitative skills to develop interest rate risk, credit risk and liquidity risk models by directly linking macroeconomic factors to key credit risk drivers for various asset classes held in the investment portfolio
- Documenting, defending, and conducting ongoing monitoring of model performance through advanced statistical testing and sensitivity analysis
- Writing clear technical documentation as well as presenting and defending results to independent Model Validation team, senior management, and regulators
- Collaborating with business partners in the model development process
- Implementing model in Python/R in a controlled environment
- Providing support on special projects, including review, oversight and analysis to support key strategic risk-related initiatives
Qualifications
- Master's degree or PhD degree in quantitative discipline
- At least 3 years of quantitative modeling experience in a financial institution
- In-depth understanding of statistics, econometrics, multivariate regressions, machine learning and other quantitative finance topics
- Advanced proficiency in using Python and R to perform large dataset analysis and build quantitative models
- Solid knowledge in financial markets and fixed income products
- Demonstrated experience in credit risk management, interest rate risk and/or asset liability management.
- Working knowledge in QRM is a plus
- Ability to communicate complex concepts to broad audiences, with strong verbal and written communication skills
- A demonstrated ability to work independently on complex projects as well as the ability to manage projects/key stake holders in a fast-paced, high-energy level environment
- Competence and confidence to gain credibility and collaborate for success across the organization
- Results oriented. Willingness to work in a position with uneven and high priority project work
- Ownership mindset is a must
Are 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 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.
Discover more at StateStreet.com/careers
Salary Range:
$100,000 - $160,000 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.