Who we are looking for

As part of State Street’s Model Risk Management (MRM) function, the Model Risk Governance Team is charged with a number of responsibilities including owning the firm’s model risk management framework, performing model validation review activities, providing guidance on appropriate model usage in the business context, managing the firm’s model inventory, evaluating ongoing model performance testing, and ensuring that model users are aware of the model strengths and limitations.

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

State Street is seeking an Officer to join its Model Risk Governance Team based in Boston, MA.  The Officer of Model Risk Governance will provide assistance in building, improving, and actualizing risk processes related to model risk.  As a key member of the team, you can anticipate significant interaction with the entire global MRM group and model risk stakeholders, where you will need to communicate effectively with a wide range of people and cultures.  Importantly, you will draw on your ability to assess, analyze and present both quantitative and qualitative information in a meaningful way.  Possible examples of work product include analyzing, reporting and automating analysis of MRM Framework compliance and results, undertaking special projects to works with MRM stakeholders to identify and achieve greater consistency and efficiencies through enhancements to processes and systems within the MRM framework, playing a key role in maintaining the accuracy of MRM’s reporting platform and suggesting ideas for enhancement, further refinement of the evaluation and assessment of aspects of model risk, supporting model inventory management activities, drafting executive-level presentations on model validation and model risk management for meetings with senior management, supporting regulatory compliance assessments of SR 11-7 and additional global regulations, and ensuring model guideline compliance with corporate requirements.

What we value

These skills will help you succeed in this role

• Demonstrated strong analytical abilities and reasoning skills

• Ability to handle multiple concurrent tasks and changing priorities

• Team player in a fast-paced, high-energy environment          

• Strong communication skills, both written and oral, with the ability to work with all levels of personnel across the organization

• Excellent organization skills , including attention to detail

Education & Preferred Qualifications

• Bachelor’s degree in finance, economics, computer science, mathematics or business-related field, or equivalent experience; Advanced degree or FRM is a plus

• 1-3 years of experience in designing and implementing solutions in Python

• Prior experience with risk concepts, analytical applications, and database tools is desired

• Exhibit a proven track record in project management, bringing the ability to quickly put substance and structure in place to manage special projects

• High results orientation and can-do attitude

We offer

• Employee savings plan;

• Premium life insurance package;

• VIP medical package;

• International operating environment;

• Language classes;

• Soft skills trainings;

• Technical workshops;

• Development sessions with a mentor;

• Diversity of opportunities across a range of challenging and highly complex activities;

• Technical or leadership career pathway

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