Risk Model Validation, SrAssc
Who we are looking for:
The validator will report to the China lead of model validation, and will be responsible of supporting the US team to conduct model validation activities. The China team will cover the models used at State Street to make business and operating decisions-most notably regulatory and economic capital models, as well as insuring the implementation of Model Risk Governance Program guidelines and requirements. These models are in areas including wholesale credit risk (e.g., probability of default, loss given default, exposure measurement, and loan loss reserving); market risk (e.g., daily value at risk pricing models, counterparty credit risk, Asset Liability Management risk, and terms structure models); and operational risk. 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 teams like yours to help navigate employees and the organization as a whole. In your 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 Risk Model Validation, SrAssc, you will:
•Help the China lead to support the US team to conduct model validation activities and ensure model risks are correctly identified, assessed, and captured
•Assessing model theory and model assumptions as well as considering model methods and potential options
•Testing and confirming model results by using documented procedures for running the model(s).
•Reviewing code documentation for proper model implementation, including the possible simulation of results
•Working with data validation members and information technology professionals to determine model data integrity
•Performing model validation processes and performing independent model validation of significant models
•Assessing the stability and robustness of models by conducting backtesting, sensitivity testing, and stress testing
•Making recommendations and suggesting improvements related to the applicability of the different models assessed in meeting their objectives
•Ensure compliance with the regulatory (SR11-7) and State Street quality requirements for model risk
•Deliver the validation findings via management presentations and regular reports.
•Communicate with onsite validators, model developers and business to relay the issues and feedback and capture the action plans What we value:
These skills will help you succeed in this role:
•Solid experience in risk management in banking/finance industry
•Good communication skills (verbal and written in English)
•Ability to execute on competing priorities in a timely manner
•Hands on experience in model development and/or model validation is a plus Education & Preferred Qualifications:
•Master or PhD in related disciplines degree with extensive business knowledge and strong technical skills (e.g. Statistics, Econometrics, Mathematics, Computer Science or Engineering) About State Street What we do.
State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation we're making our mark on the financial services industry. For more than two centuries, we've been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients. Work, Live and Grow.
We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary in locations, but you may expect generous medical care, insurance and savings plans among other perks. You'll have access to flexible Work Program to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential. Inclusion, Diversity and Social Responsibility.
We truly believe our employees' diverse backgrounds, experiences and perspective are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome the candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift program and access to employee networks that help you stay connected to what matters to you.
State Street is an equal opportunity and affirmative action employer.
Discover more at StateStreet.com/careers