About the position
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 (including the Policy, Guidelines, and Procedures), performing/overseeing 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, performing quality assurance functions, and evaluating regulatory requirements. The team plays an important role in the overall success of the organization, helping institutional investors manage risk, respond to challenges, and drive performance and profitability. The role requires striving for cutting-edge solutions that are straightforward and scalable, building resilience, and executing day-to-day deliverables effectively.
Responsibilities
- Coordination, planning, and execution of regulatory, control, audit, and risk initiatives and deliverables across a wide range of model risk activities.
- Enhanced Board of Directors reporting.
- Refinement of the evaluation and assessment of aspects of model risk.
- Management of the Model Risk Committee forward agenda planning.
- Conducting regulatory compliance assessments of SR 11-7 and additional global regulations.
- Ensuring model guideline compliance with emerging machine learning-based models.
- Coordination of audits and regulatory exams.
- Management of the model validation team responsible for performing Tier 3 and 4 validations/QA.
- Performing/overseeing quality assurance on various functions across MRM.
Requirements
- A minimum of a Bachelor's degree.
- 6+ years of program management, risk management, or consulting experience preferred.
- 3+ years of experience within Model Risk Management or working with models is strongly preferred.
- Experience working with an internal audit function and/or any regulator strongly preferred.
- Proficiency in Excel / PowerPoint / MS Applications.
- Excellent written communication skills (a writing sample may be required).
- Experience with project management software and approaches required.
- Strong communication, presentation, and influencing skills demonstrated across boundaries and multiple layers within an organization.
Nice-to-haves
- Demonstrated ability to win trust and respect of colleagues and business partners.
- High results orientation and can-do attitude.
- Detail oriented with strong issue identification and gap assessment skills.
- 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
- Generous medical care, insurance and savings plans.
- Flexible Work Programs to help match personal needs.
- Development programs and educational support to reach full potential.
- Paid volunteer days and matching gift programs.
- Access to employee networks for community engagement.
