State Street

Vice President, Quantitative Risk – Model Risk Management

State Street

full-time

Posted on:

Location Type: Office

Location: Boston • Massachusetts • United States

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Salary

💰 $120,000 - $202,500 per year

Job Level

Lead

About the role

  • 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
  • ensuring that model users are aware of the model strengths and limitations
  • The VP of Model Risk Governance will be responsible for coordination, planning, and execution of regulatory, control, audit, and risk initiatives and deliverables across a wide range of model risk activities.
  • Possible examples of work product include enhanced Board of Directors reporting, further refinement of the evaluation and assessment of aspects of model risk, Model Risk Committee forward agenda planning and management, regulatory compliance assessments of SR 11-7 and additional global regulations and ensuring model guideline compliance with emerging machine learning-based models.

Requirements

  • Bachelor’s degree. Finance, engineering, or quantitative discipline preferred; CFA or an advanced degree a plus
  • 5+ years of program management, risk management, or consulting experience required
  • 3+ years of experience in the development and management of models strongly preferred
  • Proficiency in Excel / PowerPoint / MS Applications
  • Experience with project management software and approaches required
  • Strong communication, presentation, and influencing skills demonstrated across boundaries and multiple layers within an organization – from model owner teams to senior executives
  • Demonstrated ability to win trust and respect of colleagues and business partners
  • High results orientation and can-do attitude
  • Demonstrated strong analytical abilities and reasoning skills
  • Team player in a fast-paced, high-energy environment
  • Ability to handle multiple concurrent tasks and changing priorities
  • Excellent organization skills, including attention to detail.
Benefits
  • our retirement savings plan (401K) with company match
  • insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages
  • paid-time off including vacation, sick leave, short term disability, and family care responsibilities
  • access to our Employee Assistance Program
  • incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans)
  • eligibility for certain tax advantaged savings plans
Applicant Tracking System Keywords

Tip: use these terms in your resume and cover letter to boost ATS matches.

Hard Skills & Tools
model validationmodel performance testingmodel inventory managementregulatory compliancemodel risk management frameworkmachine learning modelsprogram managementrisk managementmodel developmentanalytical abilities
Soft Skills
communication skillspresentation skillsinfluencing skillstrust buildingresults orientationcan-do attitudeteam playerorganizational skillsattention to detailability to handle multiple tasks
Certifications
Bachelor's degreeCFAadvanced degree