State Street Markets (SSM) is looking to address Model Risk requirements from internal oversight functions and external regulators for its business units, including Financing Solutions, FX Sales & Trading, Portfolio Solutions, Global Link, State Street Associates, and SSM Market Surveillance.
Requirements
- Strong understanding of quantitative analysis methods in relation to financial institutions
- Advanced programming skills in at least one supported statistical programming environment (Python, R, or MATLAB)
- Intermediate programming skills in VBA and other languages
- Java experience is a plus
- Knowledge of financial markets (securities lending, equities and derivatives, FX or electronic trading, etc.) is a plus
- High level understanding of capital and liquidity related regulations
Responsibilities
- Development, review, and documentation of front office models within different SSM business units
- Justifying modeling assumptions and model results to internal model validation group
- Lead the execution of engagement-specific statistical/financial modeling and analyses, and in preparation of final model deliverables
- Assume a key role in developing customized solutions to perform independent model testing, document the development methodology and implementation process
- Collaborate with model owner in designing and implementing suitable and effective model ongoing monitoring plan including performance metrics, thresholds, and escalation plan
- Develop comprehensive first line of defense documentation including model development, implementation, and ongoing monitoring documents
- Conduct post-implementation review of SSM proprietary trading algos
Other
- Graduate degree in a quantitative discipline (Financial Mathematics, Financial Engineering, Mathematics, Statistics, or a related field)
- 5 to 8 years of working experience in model risk field preferred
- Strong verbal and written communication skills, with ability to articulate ideas, analysis and complex concepts effectively to individuals from various backgrounds
- Ability to facilitate discussions and resolve conflicts between various stakeholders with competing interests
- Ability to work in a fast-paced, deadline-oriented environment
