Full-Time

Risk Model Developer AVP

Confirmed live in the last 24 hours

State Street

State Street

10,001+ employees

Asset management and custody banking services

Compensation Overview

$110k - $170kAnnually

Senior

Company Historically Provides H1B Sponsorship

Stamford, CT, USA + 1 more

More locations: Jackson Township, NJ, USA

The role is based in Connecticut or New Jersey.

Category
Quantitative Analysis
Algorithm Development
Quantitative Finance
Required Skills
Python
R
SQL
C/C++
Requirements
  • 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
  • MS or PhD in quantitative field such as statistics, econometrics, mathematic, or equivalent with strong programming skills. Prefer PhD with undergraduate training in mathematics and probability theory.
  • 5+ years of experiences for MS, 2+ years of experience for PhD of developing risk models in financial institutions.
  • Strong programming skills in Python/R/C/C++/SQL etc.
  • 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 risk modeling challenges in financial industry
Responsibilities
  • Develop risk models (PD/LGD/EAD/VAR) to provide quantitative support to risk analytical processes including CCAR/CECL/IFRS9/BASEL/Ratings/ICAAP
  • Develop portfolio risk models for economic capital
  • Review and enhance credit risk and market 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 and market 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
Desired Qualifications
  • Prefer PhD with undergraduate training in mathematics and probability theory
  • 5+ years of experiences for MS, 2+ years of experience for PhD of developing risk models in financial institutions
  • Strong programming skills in Python/R/C/C++/SQL etc.
  • 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 risk modeling challenges in financial industry

State Street Corporation operates in the financial services industry, focusing on asset management and custody banking. It provides a variety of services to institutional investors, such as mutual funds and pension funds, through its division, State Street Global Advisors, which manages investment portfolios and offers advisory services. The company serves a wide range of clients, including corporations, governments, and non-profit organizations, by leveraging its global network and expertise to deliver customized financial solutions. State Street generates revenue through management fees for overseeing client assets, transaction fees from trading, and service fees for custody and administration. Additionally, it is recognized for its commitment to leadership and diversity, promoting a culture that supports employee growth and addresses important social issues.

Company Size

10,001+

Company Stage

IPO

Headquarters

Boston, Massachusetts

Founded

1792

Simplify Jobs

Simplify's Take

What believers are saying

  • Rising demand for ESG investing boosts State Street's asset management division.
  • Digital asset custody solutions present growth opportunities for State Street.
  • Popularity of ETFs aligns with State Street's index and ETF management offerings.

What critics are saying

  • Leadership instability with interim CFO may affect strategic decisions.
  • Integration challenges from Mizuho acquisition could disrupt service delivery.
  • Increased competition in proxy voting technology may impact market share.

What makes State Street unique

  • State Street excels in asset management and custody banking for institutional investors.
  • The company is a leader in integrating ESG factors into investment processes.
  • State Street's commitment to innovation and inclusive leadership sets it apart.

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Benefits

Health Insurance

Dental Insurance

Vision Insurance

Life Insurance

Disability Insurance

Flexible Work Hours

Remote Work Options

Professional Development Budget

Tuition Reimbursement

Paid Holidays

Employee Referral Bonus

Company News

MarketBeat
Mar 2nd, 2025
Consilium Wealth Advisory LLC Invests $1.09 Million in State Street Co. (NYSE:STT)

Consilium Wealth Advisory LLC invests $1.09 million in State Street Co. (NYSE:STT).

MarketBeat
Mar 1st, 2025
Scotiabank Has Lowered Expectations for Healthpeak Properties (NYSE:DOC) Stock Price

State Street Corp acquired a new stake in Healthpeak Properties in the third quarter worth about $1,093,576,000.

Asset Servicing Times
Feb 28th, 2025
State Street acquires Mizuho's global custody businesses

State Street has partnered with Mizuho Financial group to acquire Mizuho's global custody and related businesses outside of Japan.

FF News
Feb 11th, 2025
Proxymity Secures $26M Funding Boost

Proxymity has secured $26 million in additional growth funding from existing investors, including BNP Paribas, BNY, Citi, Clearstream, Computershare, J.P. Morgan, and State Street. This funding supports Proxymity's innovative technology in proxy voting and shareholder communications. The capital will enhance technology and support geographic expansion. Investors express confidence in Proxymity's potential and its impact on transparency and efficiency in investor communications.

MarketScreener
Jan 17th, 2025
State Street Corporation Appoints Mark R. Keating as Interim CFO

State Street Corporation announced on January 14, 2025, the Board of Directors appointed Mark R. Keating as interim CFO, effective upon Eric Aboaf ?