Quantitative Risk, Model Risk Management, Vice President

JOB DESCRIPTION

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, performing 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, and ensuring that model users are aware of the model strengths and limitations.

State Street is seeking a VP to join its Model Risk Governance Team based in Boston, MA.  The VP of Model Risk Governance will be responsible for coordination, planning, and execution of regulatory, control, audit, and risk initiatives and deliverables across a wide range of model risk activities.  Possible examples of work product include enhanced Board of Directors reporting, further refinement of the evaluation and assessment of aspects of model risk, Model Risk Committee forward agenda planning and management, regulatory compliance assessments of SR 11-7 and additional global regulations and ensuring model guideline compliance with emerging machine learning-based models.

Job Qualifications:

• Bachelor’s degree.  Finance, engineering, or quantitative discipline preferred; CFA or an advanced degree a plus as well

• 5+ years of program management, risk management, or consulting experience required

• 3+ years of experience in the development and management of models strongly preferred

• Proficiency in Excel / PowerPoint / MS Applications

• Experience with project management software and approaches required

• Strong communication, presentation, and influencing skills demonstrated across boundaries and multiple layers within an organization – from model owner teams to senior executives

• Demonstrated ability to win trust and respect of colleagues and business partners

• High results orientation and can-do attitude

• Demonstrated 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

Salary Range:

$120,000 - $202,500 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.

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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.