What you will be responsible for

As senior deposit modeler you will:

• Develop, enhance and maintain liquidity risk focused deposit models (deposit runoff model, operational/excess deposit model, overdraft, fund finance, etc.) and provide analytical support to various use cases including but not limited to internal liquidity stress test (ILST)
• Familiar with regulatory requirements and industry practice in liquidity stress testing such as regulated vs unregulated deposits, liquidity coverage ratio (LCR), net stable funding ratio (NSFR), highly liquid assets (HLA), and keep abreast of recent developments in academic research, industry practice and regulatory expectations as related to deposit modeling, asset liability management and liquidity risk management
• Review and enhance methodologies including assumptions, segmentation and modeling choices in line with firm’s model risk management (MRM) guidelines
• Work with model owners and stakeholders to test and verify key model assumptions
• Review model outputs with properly justified opinions and judgments to capture forward-looking outlook
• Participate in internal working groups and committee meetings for model development, implementation and reporting
• Draft business requirements and implement internally developed models on risk analytical library platform
• Streamline the existing modeling and analytical processes and improve execution efficiency to meet business needs
• Partner with the three lines of defense functions, such as model risk management, global treasury risk management (GTRM), and Corporate Audit to ensure appropriate governance and control infrastructure for liquidity modeling
• Prepare and present reports to model risk management, senior management and regulators such as Federal Reserve, OCC, FDIC, ECB, etc.

What we value

These skills will help you succeed in this role:

• Knowledge and analytical mindset: solid foundation in economics and financial markets; strong analytical and quantitative mindset; ability to take initiatives and improve on existing deposit models and methodologies
• 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
• Organizational strengths: an ability to organize resources, processes, and priorities to ensure business needs are met in a coordinated, responsive, and timely manner, with minimal direction

Education & Preferred Qualifications

• Master’s degree or PhD in Physics, Engineering, Mathematics, Statistics, Economics, Finance or equivalent
• 3+ years industry (or research) experience in data analytics working with financial markets time series data, big data and/or data quality assurance
• 5+ years experience in deposit modeling and analytics in financial institutions (banks preferred)
• Broad knowledge in financial instruments/markets and relevant experiences in liquidity stress testing, balance sheet forecasting, and interest rate risk (IRR) management with a major bank
• Recent experiences in developing, enhancing, maintaining and implementing deposit models for regulatory purposes (e.g., ILST)
• Proficiency in programming languages such as Python and R

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.

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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