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,

We offer

• 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

• Language classes

• Soft skills trainings

• Technical workshops