Who we are looking for
Model Validation Quantitative Analyst and team manager will report to the head of Model Risk Management in Poland and will be responsible for conducting model validation activities and leading a team of highly qualified individuals within existing ERM department. The Poland team will cover the models used at State Street to make business and operating decisions—most notably regulatory and economic capital models, as well as insuring the implementation of Model Risk Governance Program guidelines and requirements. These models are in areas including wholesale credit risk (e.g., probability of default, loss given default, exposure measurement, and loan loss reserving); market risk (e.g., daily value at risk pricing models, counterparty credit risk, Asset Liability Management risk, and term structure models); operational risk; liquidity risk and asset management.
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 Quantitative Analyst and team manager, you will be responsible for
- Day-to-day management and coaching of all direct reports,
- Supporting the overall strategic goals and aims of the Model Risk Management function,
- Conducting model validation activities and ensure model risks are correctly identified, assessed, and captured,
- 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,
- Working with data validation members and information technology professionals to determine model data integrity,
- Performing model validation processes and performing independent model validation of significant models,
- Assessing 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,
- Ensuring compliance with the regulatory (SR11-7) and State Street quality requirements for model risk,
- Delivering validation findings via management presentations and regular reports
- Communicating with onsite validators, model developers and business to relay the issues and feedback and capture the action plans,
- Ensuring quality checks and controls including standardization of assessments and dissemination of feedback across team members.
What we value
These skills will help you succeed in this role
- Management experience leading a team of risk or risk related professionals,
- Strong programming skills in at least one programming language (R, Python, MATLAB, C++, SAS etc.),
- Strong verbal and written communication skills, with ability to effectively articulate ideas and analysis to senior management,
- Hands-on and results oriented, willingness to work in a position with uneven and high priority project work,
- Willingness and ability to master concepts quickly,
- Ability to gain trust and respect of business partners,
- Able to complete tasks independently and as part of a team to high quality standards.
Education & Preferred Qualifications
- PhD or master’s degree in related disciplines with extensive business knowledge and strong technical skills (e.g., Statistics, Econometrics, Mathematics, Computer Science or Engineering); CFA, FRM or PRM designation a plus,
- At least 5 years of experience in roles related to quantitative finance or quantitative research (model validation, model development, model audit, ALM, etc.), including model documentation and implementation; exposure to regulatory concerns a plus,
- Strong programming skills with experience in R, Python, Matlab, C++, SAS and/or SQL.
- Employee savings plan,
- Life insurance package,
- 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.