Quantitative Analyst, Officer Quantitative Analyst, Officer …

State Street Corporation
in Boston, MA, United States
Permanent, Full time
Last application, 25 Sep 21
Competitive
State Street Corporation
in Boston, MA, United States
Permanent, Full time
Last application, 25 Sep 21
Competitive
State Street Corporation
Quantitative Analyst, Officer
Quantitative Analyst, Officer

OUR COMPANY:
State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $30+ trillion in assets under custody and administration and $2+ trillion in assets under management, State Street operates globally in more than 100 geographic markets and employs more than 30,000 worldwide. For more information, visit State Street's website at http://www.statestreet.com/.

JOB DESCRIPTION:
State Street Corporation's Model Validation Group (MVG) is recruiting for Quantitative Analyst at the Officer level. MVG is part of the broader Model Risk Management function that is responsible for the identification, measurement, and mitigation of model risk across the global enterprise.

The work of Quantitative Analysts will be guided by Senior Quantitative Analysts who lead model reviews. MVG's review work is focused on models used to make business and operating decisions. While models are diverse, many can be classified as belonging to the following general areas: credit risk (e.g., probability of default, loss given default) for both wholesale and structured products; market risk (e.g., daily Value at Risk pricing models and ALM risk); securities finance; asset management, and interest rate risk.

Specific tasks performed during model reviews include but are not limited to:
  • Assessing model theory and model assumptions as well as considering model methods and alternate options.
  • Testing and confirming model results by using documented procedures for running the models.
  • Reviewing model code as well as model documentation for proper model implementation, including the possible simulation of results.
  • Working with data validation members and information technology professionals to assess integrity of data behind the model.
  • Performing model validation processes including assessment of the stability and robustness of models by conducting backtesting, sensitivity testing, and stress testing.
  • Making recommendations and suggesting improvements related to the applicability of the different models assessed in meeting their objectives.

JOB QUALIFICATIONS:
  • Master in Statistics, Data Science, Finance, Economics, Mathematics, and/or other quantitative discipline. Exceptional candidates with a Bachelor's degree and 3+ years of relevant work experience might also be considered.
  • Work experience in a Financial Services Firm preferred. Model Validation experience a plus.
  • Excellent quantitative modeling, analytical, statistical, and programming skills (e.g., R, Python, SAS, Matlab, SQL, VBA, and other programming languages) required.
  • Strong communication skills, both verbal and written.
  • Good project management skills, with the ability to work independently on multiple tasks and/or projects.
  • Knowledge of financial markets and products, familiarity with structured asset classes a plus.
  • The candidate must be able to take initiative and meet deadlines.

LOCATION: greater Boston, MA area
Company Overview

From technology and product innovation to corporate responsibility and community development, 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 - strengthening markets, building communities and creating opportunities for growth.

We owe that longevity to the commitment, expertise and creativity of our employees. Our continued success depends on our ability to attract and develop the best talent in the industry. That's why we're keenly focused on employee development, corporate citizenship and inclusion.

For us, success comes in the mark we make as an organization - for the industry, our clients, our communities and each other.

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