Who we are looking for
A strong quantitative modeler to join the team as Officer and Credit Risk Modeler based in Hangzhou, China. This role is part of the Centralized Modeling, Analytics and Operations Group within Enterprise Risk Management's Financial Risk Organization.
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.
Want more jobs like this?
Get Administration and Office jobs in Hangzhou, China delivered to your inbox every week.
What you will be responsible for
As Credit Risk Modeler you will:
- Develop credit risk models (PD/LGD/EL) to provide quantitative support to credit risk analytical processes including CCAR/CECL/IFRS9/BASEL/Ratings/ICAAP
- Develop credit portfolio risk models for economic capital
- Review and enhance credit risk analytical methodology including modeling choices in line with expanding business and regulatory requirements
- Review and verify key model assumptions with model owners
- Review model outputs with properly justified opinions and judgments by experts from credit risk managers to capture forward-looking financial market and macro-economic outlooks
- Implement internally developed models on risk analytical library platform
- Streamline the existing modeling and analytical process; increasing the pace of execution to meet the needs of the business
- Work in close partnership with the three lines of defense functions, such as model governance, Corporate Audit and Financial Regulatory Assurance to ensure appropriate governance and control infrastructure for credit risk analytics
- Prepare and present required reports/reviews to model risk management, senior management and global regulators
What we value
These skills will help you succeed in this role:
- Strong analytical and quantitative mindset; ability to take ownership and improve on existing risk models and methodologies
- Energetic/motivator: an enthusiastic individual with proven leadership skills and an ability to motivate a diverse, multi-level workforce and instill a sense of urgency on a range of evolving goals and objectives
- Organizational strengths: an ability to organize projects, processes and priorities to ensure business needs are met in a coordinated, responsive and timely manner, with minimal direction
- Confidence: a self-assured, experienced and knowledgeable individual able to quickly garner support for his/her views based on informed, well-presented direction or analysis, with a willingness to negotiate, and concede, when needed
- Communicator: clear, confident, self-assured communication style, coupled with an ability to react and adapt to various audiences and environments without diluting effectiveness
Education & Preferred Qualifications
- PhD in statistics or econometrics or equivalent, prefer research area in survival analysis/event history analyses or related areas; Prefer PhD research that involves heavy programming work with strong programming skills in Python/R/SAS/C/C++/SQL etc.
- Undergraduate training in mathematics and probability theory (measure theory) with good knowledge of stochastic calculus is a big plus.
- For Master's Degree, 2+ years of experiences of developing credit risk modeling for in a financial institution is required.
- Strong programming skills in Python/R/SAS/C/C++/SQL etc..
- Strong communication skills in English (in both written and oral communication).
- Demonstrated experiences working with model development teams, analytical library development team and technology
- Motivated and fascinated in how to apply statistics and econometric methodologies to resolve credit risk modeling challenges in financial industry
What we offer
Wide range of benefits, including:
- Paid Time Off
- Social Security
- Housing Fund
- Supplementary Commercial Medical Insurance
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
State Street's Speak Up Line