Quantitative Analyst

State Street’s Model Risk Management (MRM) function is seeking a Quantitative Analyst to join its Model Validation team based in Boston, MA. The Quantitative Analyst will participate in model validation to ensure model risks are correctly identified, assessed, and managed. MRM’s validation work is focused on models in the following general areas: wholesale credit risk, market risk, securities finance, asset management, and stress testing.

 Specific tasks performed during model reviews include:

• Assessing model theory and assumptions as well as considering modeling methods and alternate options
• Testing and confirming model results by using documented procedures for running models
• Assessing computational accuracy by reviewing code documentation for proper model implementation, including the possible simulation of results
• Assessing the integrity of data inputs
• Assessing the stability and robustness of models by conducting backtesting, sensitivity testing, and stress testing
• Presenting results of model validation work to senior management and making recommendations for improvements

Job Qualifications:

• MS or PhD in Finance, Economics, Financial Engineering, Statistics, Math, or related field; senior positions require 2-3 years of model validation experience in a financial services firm
• Strong written and verbal communication skills
• Excellent quantitative modeling, analytical, research, and programming skills (e.g., MATLAB, R, Python, SAS, Stata, SQL)
• Strong  project management skills exemplified by the ability to work independently on multiple projects and meet deadlines

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.

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.

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