Quantitative Analyst/Model Risk Management, Assistant Vice President

$187,200 - $187,200/Yr

2001 SSB&T - Boston, MA

Full-time - Entry Level

Boston, MA

About the position

The Quantitative Analyst will join State Street's Model Risk Management (MRM) function, specifically the Model Validation team in Boston, MA. This role focuses on validating models to ensure that model risks are accurately identified, assessed, and managed across various areas including compliance, credit risk, macroeconomic scenario generation, market risk, securities finance, asset management, and stress testing. The analyst will engage in tasks such as assessing model theory, testing model results, reviewing code documentation, and presenting validation results to senior management.

Responsibilities

• Participate in model validation to ensure model risks are correctly identified, assessed, and managed.
• Assess model theory and assumptions, considering modeling methods and alternate options.
• Test and confirm model results using documented procedures for running models.
• Assess computational accuracy by reviewing code documentation for proper model implementation.
• Assess the integrity of data inputs.
• Evaluate model performance, stability, and robustness through backtesting, sensitivity testing, and stress testing.
• Present results of model validation work to senior management and make recommendations for improvements.

Requirements

• MS or PhD in Finance, Economics, Financial Engineering, Statistics, Math, or a related field.
• Work experience in a Financial Services Firm preferred.
• Model Validation experience is a plus.
• Excellent quantitative modeling, analytical, research, and programming skills (e.g., MATLAB, R, Python, SAS, Stata, SQL).
• Strong written and verbal communication skills.
• Strong project management skills with the ability to work independently on multiple projects and meet deadlines.

Benefits

• Generous medical care and insurance plans.
• Savings plans and flexible work programs.
• Development programs and educational support.
• Paid volunteer days and matching gift programs.