Quantitative Risk Officer, Risk Model Developer

State Street

Quantitative Risk Officer developing advanced credit risk models for State Street's financial services. Collaborating with model development teams and ensuring adherence to regulatory standards.

Posted 7/9/2026full-timeClifton • Connecticut, Massachusetts, New Jersey • 🇺🇸 United StatesMid-LevelSenior💰 $75,000 - $123,750 per yearWebsite

Tech Stack

Tools & technologies

PythonSQL

About the role

Key responsibilities & impact

Develop credit risk models (PD/LGD/EL) to provide quantitative support to credit risk analytical processes for State Street’s wholesale portfolios, including Commercial Real Estate (CRE), Corporate, Private Equity (PE) Fund and Private Credit (PC) exposures, etc.
Develop credit portfolio risk models for CCAR/CECL/IFRS9/BASEL/Ratings/ICAAP use cases, as well as for economic capital
Review and enhance credit risk analytical methodology including modeling choices in line with expanding business and regulatory requirements
Review and verify key model assumptions with model owners
Review model outputs with properly justified opinions and judgments by experts from credit risk managers to capture forward-looking financial market and macro-economic outlooks
Implement internally developed models on risk analytical library platform
Streamline the existing modeling and analytical process; increasing the pace of execution to meet the needs of the business
Work in close partnership with the three lines of defense functions, such as model governance, Corporate Audit and Financial Regulatory Assurance to ensure appropriate governance and control infrastructure for credit risk analytics
Prepare and present required reports/reviews to model risk management, senior management and global regulators

Requirements

What you’ll need

MS or PhD in statistics or econometrics or equivalent, prefer research area in survival analysis/event history analyses or related areas
Prefer research area that involves heavy programming work with strong programming skills in Python/R/C/C++/SQL etc.
Undergraduate training in mathematics and probability theory (measure theory) with good knowledge of stochastic calculus is a big plus
Strong programming skills in Python/R/C/C++/SQL etc.
Demonstrated experiences working with model development teams, analytical library development team and technology
Motivated and fascinated in how to apply statistics and econometric methodologies to resolve credit risk modeling challenges in financial industry.

Benefits

Comp & perks

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

ATS Keywords

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Applicant Tracking System Keywords

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Hard Skills & Tools

Credit Risk ModelsPD/LGD/EL ModelingCCAR/CECL/IFRS9/BASEL ModelingStochastic CalculusSurvival AnalysisEvent History AnalysisQuantitative AnalysisModel VerificationAnalytical MethodologyModel Governance

Soft Skills

CollaborationCommunicationAnalytical ThinkingProblem Solving