Senior Quantitative Analyst, Vice President

State Street Global Advisors (SSGA) Model Risk Management (MRM) function is seeking a Senior Quantitative Analyst to join its SSGA Model Validation team based in Boston, MA. The Senior Quantitative Analyst will conduct model validation to ensure model risks are correctly identified, assessed, and managed. In addition to validating SSGA models, this role will lead independent reviews of the lower risk tier models covering the entire State Street Corporation. Hence, the broad knowledge of State Street business model as well as deep understanding of the Model Risk Management Framework is essential for the role. Diverse product knowledge including index, ETF, responsible investing as well experience in the general risk areas covering credit, liquidity, market and operational risk, securities finance, asset management, and stress testing are also important.

 Specific tasks performed during model reviews include:

• Review the model workflow and identify gaps in model methodology, development, implementation, and usage process and documentation
• Challenge the model methodology by testing its assumptions and parameters; independently evaluate model performance and perform benchmarking; suggest areas for improvement
• Collaborate with portfolio managers, traders, researchers, model developers, IT, and Corporate Model Risk Management to conduct independent full scope validation as well as annual reviews of models supporting SSGA business and company-wide strategic initiatives
• Review and assess model changes and conduct targeted validation on significant model changes
• Evaluate remediation submissions and ongoing monitoring of models
• Identify, assess, and report model risks on individual model and aggregate level to management through validation reports and other MRM reporting for SSGA and lower risk tier models
• Lead, train and coach junior validators effectively increasing efficiency and reducing cycle time in validations

Job Qualifications:

• MS or PhD in Finance, Economics, Financial Engineering, Statistics, Math, or related field; 5-6 years of model validation or relevant experience in a financial services firm
• Excellent quantitative modeling, analytical, research, and programming skills (e.g., R, Python, MATLAB, SAS, SQL)
• Deep knowledge of theoretical and empirical finance across a broad range of products and asset classes
• Deep knowledge of the asset management business and its modeling philosophy, including factor models
• Solid understanding of Model Risk Management Framework including SR 11-7 and other regulatory guidance related to the model risk management
• Strong written and verbal communication skills
• Strong  project management skills exemplified by the ability to work independently on multiple projects and meet deadlines
• Strong team management skills including proved ability to train and coach junior validators

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:

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.

State Street's Speak Up Line