Who we are looking for
Model Risk Management (MRM) is part of State Street Corporation’s the Enterprise Risk Management (ERM) Division. ERM is responsible for ensuring that State Street’s risks are proactively identified, well-understood, and prudently managed in support of the Corporation’s business strategy. MRM administers the Model Risk Governance Program, which supports and implements State Street’s Model Risk Management Policy for mitigating model risk. MRM’s core responsibility involves identifying and managing model risk across the Corporation.
Why this role is important to us
The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best.
Join us if making your mark in the financial services industry from day one is a challenge you are up for.
What you will be responsible for
As Model Risk Management - Quant Model Governance you will
Be responsible for creating reports for top-level senior management within the entire State Street Organization
Ad-hoc reporting related to various governance oversight activities
Assist in establishing tests, controls, and monitoring to evaluate compliance
Develop an effective quality assurance program around the model inventory and model attributes;
Further develop and enhance a data dictionary to capture key attributes within the Model Risk Governance Platform;
Run the New Model/Model Change Process;
Assessing model theory and model assumptions as well as considering model methods and potential options.
Testing and confirming model results by using documented procedures for running the model(s).
Reviewing code documentation for proper model implementation, including the possible simulation of results.
What we value
These skills will help you succeed in this role
Understanding of financial econometrics (time-series analysis, panel analysis)
Good understanding of financial concepts and products
Must display an ability to drive and execute tasks through to completion; attention to detail is essential
Ability to work independently
Hands-on and results oriented, willingness to work in a position with uneven and high priority project work
Project management, analytical, communication, organizational, and effective writing and presentation skills
Desire to learn and get involved with data related activities
Education & Preferred Qualifications
Master degree with business knowledge and technical skills (e.g. Statistics, Econometrics, Mathematics, Computer Science or Engineering); CFA, FRM or PRM designation a plus
English skills, including reading, writing, and understanding the language
Programming skills with experience in R, Python, Matlab, C++, SAS and/or SQL. Experience with distributed computing is a plus,
Flexible working hours (subject to the existing business needs)
Interesting, non-repetitive process
Possibility to Work From Home (subject to existing business needs)
Employee savings plan
Premium life insurance package
VIP medical package
International operating environment
Soft skills trainings
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
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