Quantitative Risk Analyst, Model Risk Management, Assistant Vice President

Responsibilities

• Conduct model validation to identify, assess, and manage model risks across the global asset management business, including index products and ETFs.
• Review model workflows to identify gaps in methodology, development, implementation, and documentation.
• Challenge model methodology by testing assumptions and parameters, evaluating performance, and performing benchmarking.
• Collaborate with portfolio managers, traders, researchers, and IT to conduct independent validations and annual reviews.
• Assess significant model changes and evaluate remediation submissions.
• Identify and report model risks at both individual and aggregate levels through formal validation reports.

Requirements

• MS or PhD in Finance, Economics, Financial Engineering, Statistics, Math, or a related quantitative field.
• Excellent quantitative modeling, analytical, research, and programming skills (e.g., R, Python, MATLAB, SQL).
• Deep knowledge of economic theory and empirical finance across various products and asset classes.
• Strong understanding of the asset management business and factor models.
• Proven ability to leverage LLMs/GenAI applications in day-to-day work and model review activities.
• Solid understanding of Model Risk Management Frameworks, including SR 11-7 and other regulatory guidance.
• Strong written and verbal communication skills with the ability to manage multiple projects independently.

Benefits

• Retirement savings plan (401K) with company match.
• Comprehensive insurance coverage including medical, dental, vision, and long-term disability.
• Paid time off including vacation, sick leave, and family care responsibilities.
• Incentive compensation eligibility for annual performance-based awards.
• Access to Employee Assistance Programs and tax-advantaged savings plans.

About the Company

State Street is a leading global provider of financial services to institutional investors. We help our clients manage risk, respond to challenges, and drive performance and profitability. We are committed to fostering an inclusive environment where employees are empowered to reach their full potential through development opportunities and flexible work-life support.