Trading Algo Validator - AVP Trading Algo Validator - AVP …

State Street Corporation
in Hangzhou, Zhejiang Sheng, China
Permanent, Full time
Be the first to apply
State Street Corporation
in Hangzhou, Zhejiang Sheng, China
Permanent, Full time
Be the first to apply
State Street Corporation
Trading Algo Validator - AVP
Who we are looking for:
The AVP will collaborate with model owner in execution of Model Risk regulatory requirements for all active and in development quantitative models and support Model Governance Infrastructure implementation under supervision of SSGM Model Risk Validation China head. The AVP will specifically focus on post-implementation review of SSGM proprietary trading algos. including:
  • Review code and strategy changes to make sure they are in line with expectation and in compliance of FX Global Code
  • Independent testing of selected key components of trading algos
  • Communication with quants and developers to understand strategy changes
  • Justifying modeling assumptions and model results to internal model validation group and external regulators
  • Preparation and delivery of engagement status updates to key stakeholders

Why this role is important to us:
The team you will be joining is a part of State Street Global Markets (SSGM). When owners and managers of institutional assets need research, trading, securities lending and innovative portfolio strategies, they turn to SSGM business unit. As our investment research and trading arm, SSGM's number one goal is to enhance and preserve our clients' portfolio values by applying technology, optimizing trading, and linking asset classes and markets across the world.
Join us if making your mark in capital markets industry from day one is a challenge you are up for.

What you will be responsible for:
As Trading Algo Validator - AVP you will:
  • Support model owner, in the execution of engagement-specific statistical and/or term structure modeling and analyses, and in the preparation of final model deliverables
  • Assume a key role in determining model methodology, develop customized solutions to perform independent model testing, document the development methodology and implementation process, specifically:
    • Establish, based on class of model considered, appropriate benchmarking and backtesting techniques that would be reflective of the main model's purpose, horizon required, hedging implications and other important factors that might be relevant for holistic assessment of model performance
    • Identify key model risks, by stress testing model inputs and parameters
    • Demonstrate the stability of model over a variety of alternate specifications and range of input values which model is expected to operate. Evaluate extreme values for inputs to identify any boundaries of model effectiveness
  • Collaborate with model owner in designing and implementing suitable and effective model ongoing monitoring plan including performance metrics, thresholds, and escalation plan
  • Work with quants and developers on updating models to meet requirements from internal model validation group and external regulators
  • Perform code review on model/strategy releases to mitigate implementation risks
  • Engage with internal model validation group, for each class of models to be validated (FX Sales & Trading, Portfolio Solutions, Securities Finance, etc.), establish validation workflow and metrics for the validation outcome that are consistent with the main model purpose as well as approaches
  • Own the quality control process for engagement-related deliverables (including programming code, presentations, and technical reports), ensuring materials comply with firm guidelines and group-specific quality standards
  • Ensure engagement completion by delegating tasks, coaching and guiding junior staff, and proactively resolving issues during project execution

What we value:
These skills will help you succeed in this role:
  • Demonstrated track record leading project management in large (US$200 billion plus in total assets) financial services companies (US financial institutions is preferred), including:
    • Developing project plans to identify required quantitative analyses and to establish timelines for required deliverables
    • Performing quantitative analyses supporting each project-related deliverable
    • Reviewing deliverables for accuracy, compliance with internal guidelines, and external regulatory requirements
  • Demonstrated ability to interface with model validation group, compliance groups, and regulatory bodies in order to explain and defend the assumptions and quantitative methodologies embedded and/or leveraged in the models
  • Demonstrated familiarity with key regulatory frameworks and their corresponding requirements, including but not limited to:
    • CCAR
    • FRTB
    • MiFID II
    • FX Global Code
  • Previous experience developing or validating one or more classes of models (FX Sales & Trading, Portfolio Solutions, Securities Finance, etc.)
  • Familiarity with the three lines of defense model, including goals, policies, and procedures relevant to each line of defense
  • Previous experience developing and reviewing model governance documents, and remediating models (when necessary) to ensure compliance with guidelines
  • Proven track record in the development of extensive (80-100 page-plus) model validation or model development technical documentation for consumption by internal validation groups, supervisory authorities, and other regulatory entities
Education & Preferred Qualifications:
  • Demonstrated knowledge of database management and manipulation, including knowledge of SQL
  • Advance in Java
  • Demonstrated knowledge of FX sales and trading, securities finance, and de
  • Graduate degree in a quantitative discipline (Financial Mathematics, Financial Engineering, Mathematics, Statistics, Computer Science, or a related field)
  • 3 to 5 years of experience in model risk field recommended
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 pricing

Company Overview

From technology and product innovation to corporate responsibility and community development, 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 - strengthening markets, building communities and creating opportunities for growth.

We owe that longevity to the commitment, expertise and creativity of our employees. Our continued success depends on our ability to attract and develop the best talent in the industry. That's why we're keenly focused on employee development, corporate citizenship and inclusion.

For us, success comes in the mark we make as an organization - for the industry, our clients, our communities and each other.