Financial Risk Trading and Market Risk Management (TMR), a team within State Street’s Enterprise Risk Management (ERM) department, is seeking an experienced Market Risk Manager. The primary focus for the position will be the independent risk oversight and assessment of State Street’s trading and market risk.

Trading and Market Risk

The goal of ERM is to ensure that State Street’s risks are proactively identified, well-understood, and prudently managed in support of our business strategy. As such, ERM provides risk oversight, support, and coordination to ensure consistent identification, measurement and management of all risks arising from the provision of products and services to our clients.  TMR focuses on these responsibilities for the bank’s trading and market risk activities within our Global Markets and Global Treasury divisions.

Position and Primary Duties and Responsibilities

The Senior Market Risk Manager within the Trading and Market Risk team will:

• Provide global independent risk oversight of market risk, including identification of risks and drivers, establishment and maintenance of risk limits and other risk controls, measurement and analysis of risks, and monitoring and reporting of risks, including validation of position data and risk calculations. Substantial interaction with traders and other support functions required
• Help develop risk management systems (specifying requirements, supporting implementation and testing), prototyping and development of enhanced risk management tools
• Analyze and continuously enhance market risk metrics and models
• Perform stress testing, identify portfolio vulnerabilities and support the stress testing scenario design process
• Monitor Market Risk limits and appropriately escalate exceptions
• Identify risks and assess the implementation requirements for new products
• Analyze and implement new regulatory requirements, like the Fundamental Review of the Trading Book (FRTB)
• Develop good working relationships with colleagues within Financial Risk and ERM, business units, support functions (e.g., operations, assurance functions) and technology
• Contribute to risk and/or regulatory projects as required; independently driving forward assigned tasks
• Lead critical projects with high-impact on company results
• Support senior management and communications with regulators
• Mentor, support and develop a global team of junior market risk analysts

This position is for a self-motivated Senior Market Risk Manager with a strong technical and quantitative aptitude, expert knowledge of traded products and their risks as well as the regulatory landscape and the ability to influence and engage senior stakeholders. The candidate will contribute to the establishment and maintenance of best practices and governance policies pertaining to report compilation, data integrity, and distribution.

Qualifications, Skills and Experience

• 7+ years of experience in market risk, ideally within a major bank
• A bachelors or advanced degree in economics, finance, a quantitative or other related field required
• Familiarity with Foreign Exchange and Interest Rate Derivatives; in-depth knowledge of forwards, swaps, NDFs and options preferred
• Strong quantitative background, experience in curve building and risk modelling
• Excellent systems skills and strong ability to develop prototypes using Python and SQL; experience using Bloomberg preferred
• Strong quantitative mindset, ability to take model ownership and improve on existing risk models (Value-at-Risk, Sensitivities, back-testing).
• Ability to identify problems and limitations, propose solutions and proactively address these directly.
• Ability to communicate and write clear and precise technical documentation describing processes and methodologies.
• Solid critical thinking ability and analytical skills.
• Comfortable in conflict resolution as appropriate with others/in a matrix organization
• Team player with unquestionable integrity and ethical standards

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:

$110.000 - $185.000 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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