Quantitative Analyst,AVP
State Street Corp. 761 reviews - Boston, MA

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Regional Marketing Statement

Our Company

State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $21.807 trillion in assets under custody and administration and $1.866 trillion in assets under management at December 31, 2011, State Street operates in 29 countries and more than 100 geographic markets and employs 29,740 worldwide. For more information, visit State Street’s web site at www.statestreet.com

Promoting a culture of excellence

With more than 29,000 employees across 29 countries, at State Street, our people are our greatest asset. We recognize that highly skilled, engaged and productive employees are essential to our success. Our company values reflect our commitment to employee engagement, Global Inclusion and corporate social responsibility — to help you build a fulfilling career. Around the world, we aim to be an employer of choice by offering competitive compensation and benefits, personal and professional development opportunities, and a work environment that promotes a diverse array of people, ideas and skills.

We’re a company that insists on, and rewards, performance excellence. We know our success hinges on attracting the best people to join us — people like you.

We encourage you to explore the possibilities that a career at State Street can offer you.

State Street is an Affirmative Action/Equal Opportunity Employer. Applicants are considered for all positions without regard to race, color, religion, national origin, ancestry, ethnicity, age, disability, sexual orientation, gender, gender identity, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status or other characteristics protected by applicable law.

Job Description

State Street has multiple openings for quantitative analysts in its Enterprise Risk Management (ERM) division. ERM is responsible for providing global risk management services covering the areas of credit risk, market risk, operational risk, and asset management. State Street is a global company with approximate 29,000 employees and is looking to add to its quantitative staff in Boston, MA.

Quantitative analysts within ERM build models, or conduct independent model validations, in the following general areas: wholesale credit risk, including probability of default, loss given default, exposure measurement, and loan loss reserving; market risk, including daily value at risk, pricing models, counterparty credit risk, ALM risk, and term structure models; and operational risk. ERM quantitative analysts are also responsible for building the Basel II regulatory and economic capital models. Supervisory and non-supervisory positions are available.

Quantitative analysts will work in one or more of the areas listed in the overview section. Typical duties include the following:

  • Conducting financial, econometric, and statistical analysis of data
  • Developing models to quantify risk or price assets, including derivatives
  • Managing large and/or complex data sets using statistical tools and database technologies
  • Reviewing external studies and adopting methodologies in those studies to State Street risk areas
  • Critically reviewing U.S. Basel and other financial regulations and developing quantitative methods that meet regulatory requirements
  • Performing backtesting, sensitivity testing, and stress testing of models
  • Identifying and critically evaluating external market data, e.g., credit spreads, for use in ERM models
  • Working with staff in the business areas to gain an understanding of business issues and to reflect that understanding in the risk models and methods
  • Conducting independent validations of models created by ERM staff or staff in the business areas (independent validations are typically done by staff working in ERM’s Model Validation Group)
  • Writing technical documentation
  • Presenting results of work to senior management
  • Working with the information technology group to document business requirements and to ensure methodologies are accurately implemented in production systems
  • Completing ad hoc assignments in the general areas credit risk, market risk, and operational risk

ERM is recruiting for several quantitative modeling positions. The list of qualifications below is long and we do not expect that any single candidate will have expertise in all of the listed areas. If you are interested in working for State Street in a quantitative modeling role and your skills are well aligned with many of the areas listed below, you are encouraged to apply.

  • Degree in mathematical finance, economics, statistics, physics, or a related field
oVP-level qualifications: 6+ years of relevant work experience and an advanced degree in one of the above areas (relevant Ph.D. degree can substitute for some of the work experience)

oAVP-level qualifications: 3 to 5 years of relevant work experience and an advanced degree in one of the above areas (relevant Ph.D. degree can substitute for some or all of the work experience)

oOffice-level qualifications: none to 2 years of relevant work experience (Master’s degree is preferred)

  • In-depth understanding of multivariate statistics
  • Detailed understanding of a broad range of financial instruments
  • Hands on experience in the methods used for pricing of financial instruments, curve construction etc.
  • Knowledge of finance and capital markets, particularly for market risk positions
  • Experience conducting quantitative modeling for a financial institution
  • Knowledge of a statistical or analytical modeling language such as SAS, Matlab, Stata, or S+
  • Programming skills in one or more of C++, Java, Perl, or Visual Basic
  • Experience working with large and complex data sets
  • Familiarity of quantitative risk management methodologies including VaR, stress testing, credit value adjustment, and exposure measurement, e.g., PFE or EPE
  • Ability to identify problems where they exist and propose solutions
  • Strong written and verbal communication skills
  • Good project management skills and a demonstrated ability to work independently on complex projects
  • Experience managing teams of people on technical projects (for management positions typically associated with VP-level hires)
Job Opening ID

State Street Job ID: 57118


Boston, MA

Closing Statement

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About this company
761 reviews
Ol' Blue Eyes sang about the State Street (that great street) in Chicago, but investors may find Boston's State Street more melodious....