Quantitative Risk, AVP at State Street in Boston, MA

Quantitative Risk, AVP Location: Boston, Massachusetts Who we are looking for State Street’s Model Risk Management (MRM) function is seeking a Quantitative Analyst to join its Model Validation team based in Boston, MA. The Quantitative Analyst will participate in model validation to ensure model risks are correctly identified, assessed, and managed. 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 talented individuals like you. In this 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 Risk, AVP you will Perform independent validations of compliance related models, with a primary focus on models used in areas such as AML, sanctions, and market surveillance, with scope to expand to other model families as responsibilities evolve Conduct quantitative analysis to evaluate and quantify model risks Assess model design, assumptions, performance, and limitations based on available documentation, regulatory guidance, industry practices, and internal standards Analyze large-scale datasets using statistical techniques and machine learning methods to support model validation and performance assessment Communicate with model developers and business to relay the issues and feedback and capture the action plans Present results of model validation work to senior management and making recommendations for improvements Job Qualifications: MS or PhD in Finance, Statistics, Economics, Mathematics, Financial Engineering, Computer Science / Engineering, or related field. CFA or FRM designation is a plus. Exceptional candidates with a Bachelor’s degree and relevant experience may also be considered Prior experience in Compliance, including areas such as AML, sanctions, or market surveillance, or experience working closely with compliance models Ability to exercise sound judgment when reviewing compliance models with limited data or methodological transparency Strong written and verbal communication skills Strong project management skills exemplified by the ability to work independently on multiple projects with competing priorities and meet deadlines Familiarity with quantitative modeling concepts, analytical techniques, or programming tools (e.g., Python, R, MATLAB, SAS, Stata, SQL) is a plus Salary Range: $90,000 - $157,500 Annual The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ. Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: 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); and, eligibility for certain tax advantaged savings plans. For a full overview, visit https://hrportal.ehr.com/statestreet/Home. About State Street Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success. We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future. As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law. Discover more information on jobs at StateStreet.com/careers Read our CEO Statement Job Application Disclosure: It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.