GM Mkt Risk Manager,VP GM Mkt Risk Manager,VP …

State Street Corporation
in Boston, MA, United States
Permanent, Full time
Be the first to apply
State Street Corporation
in Boston, MA, United States
Permanent, Full time
Be the first to apply
State Street Corporation
GM Mkt Risk Manager,VP
Market Risk & Credit Exposure Manager, VP
Job Description:
State Street Global Markets (SSGM), a division of State Street Bank & Trust Co., engages in a variety of capital markets business activities, including sales and trading in foreign exchange markets. The Credit & Global Market Risk (CGM) group - being part of the Enterprise Risk Management (ERM) division - is responsible for oversight of SSGM's trading businesses.
The position is for a self-motivated Senior Market Risk and Credit Exposure Manager with a strong technical and quantitative aptitude providing market risk and credit exposure oversight as part of the CGM Market Risk team.
Key responsibilities:
  • Global independent risk oversight of market risk and credit exposure, including identification of risks and drivers, establishment and maintenance of risk limits and other risk controls, measurement and analysis of risks, and monitoring and reporting of risks, including validation of position data and risk calculations. Substantial interaction with traders and support functions required.
  • Help develop risk management systems (specifying requirements, supporting implementation and testing), prototyping and development of enhanced risk management tools.
  • Analyze and continuously enhance market risk measures (VaR, Expected Shortfall, PV01, Option Greeks) and counterparty credit exposure measures (PFE, EPE, CVA), including collateral analysis (ISDA, CSA, SIMM).
  • Perform stress testing, identify portfolio vulnerabilities and support the stress testing scenario design process.
  • Perform ongoing monitoring of risk models' effectiveness, suggest and implement model improvements as well as taking a leading role in measurement framework updates in response to key regulatory initiatives (e.g., FRTB).
  • Develop good working relationships with colleagues within CGM and ERM, SSGM and other business units, support functions and technology.
  • Contribute to risk and/or regulatory projects as required; independently driving forward assigned tasks.
  • Degree/Post-graduate degree in relevant and/or quantitative subjects.
  • Minimum of 5 years of hands-on industry experience.
  • Familiarity with Foreign Exchange and Interest Rate Derivatives; in-depth knowledge of forwards, swaps, NDFs and options preferred.
  • Strong quantitative background, experience in curve building and risk modelling.
  • Strong quantitative mindset, ability to take model ownership and improve on existing risk models (VaR, sensitivities, PFE, backtesting).
  • Excellent systems skills and strong ability to develop prototypes using Python, VBA and SQL; experience using Bloomberg preferred.
  • Ability to identify problems and limitations, propose solutions and proactively address these directly.
  • Ability to communicate and write clear and precise technical documentation describing processes and methodologies.
  • Solid critical thinking ability and analytical skills.
  • Self-motivated and able to work independently; excellent time-management skills.
  • Ability to cooperate with others to help both parties be successful.
  • Foster an environment that supports effective teamwork.
  • Promote and support a culture of effective challenge and risk excellence.
  • Comfortable in conflict resolution as appropriate with others/in a matrix organization.
  • Maintain the highest standards of conduct and integrity and ensure compliance with accepted industry practice, company policies, statute and regulatory requirements.

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.