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Quantitative Risk, Off

mid · Risk & Compliance

Who we are looking for

The Centralized Modeling & Analytics (CMA) team within State Street’s Enterprise Risk Management (ERM) organization is looking for an experienced quantitative analyst to join our team in Boston, MA.

Why this role is important to us

The CMA ​​organization provides analytics based services and solutions to business units across State Street. Our mission is to create value through data driven solutions enabling ​State Street and our business partners to make timely and informed decisions. The team you will be joining plays an important role in the overall success of the organization. In this 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.

What you will be responsible for

As Quantitative Analyst you will:

• Develop BAU deposit model including core deposit, balance sheet forecasting, deposit runoff and pricing
• Develop CCAR/internal stress testing models to address internal and regulatory findings
• Work with the implementation team to ensure functional and accurate model implementation by thoroughly reviewing all available documentation, coordinating, and analyzing test results of all model methodology changes made to the QRM framework
• Develop ad-hoc quantitative tools to assist simulation in balance sheet optimization and implement the models to assist in ALM strategy
• Perform all aspects related to model change control governance. This includes authoring appropriate test cases, test applications, procedures and controls, implementation writeups with supporting evidence, model validation tests and submissions, and project management activities that ensure all initiatives and enhancements are properly controlled, resourced and on track
• Work collaboratively across the three lines of defense to ensure the appropriate product modeling parameters and characteristics are captured, reviewed, and challenged
• Work closely with model owners, users, senior management and other business units to understand the business needs and conditions, and determine the analytical tools and data needed
• Perform any other tasks as assigned to support the CMA

What we value

These skills will help you succeed in this role

• Strong verbal and written communication skills, with ability to articulate ideas, analysis and complex concepts effectively to broad audiences
• A demonstrated ability to work independently on complex projects as well as the ability to be a team player in a fast-paced, high-energy level environment
• Competence and confidence to gain credibility and collaborate for success across the organization

Education & Preferred Qualifications

• Masters’ or PhD in Economics, Statistics, Mathematics, Risk Management or related field
• High proficiency in time series analysis and financial modeling
• 1+ years of ALM, or interest rate risk management or liquidity risk management or prepayment modeling or other relevant market risk or credit risk quantitative experience in large, complex financial institutions, with demonstrated use of a variety of mathematical/application tools to perform appropriate analysis and to refine computer modeling applications
• 3+ years of programming experience in Python and R
• Strong quantitative aptitude/skills and experience modeling complex financial concepts; strong preference given towards experience in interest rate risk and/or credit risk
• Professional designations (CFA, FRM) preferred but not required

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

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