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); operational risk; and AI/ML models related to bank’s business areas. What you will be responsible for · Work with team members in Hangzhou under the supervision of the model validation lead in China, and conduct model validation activities covering SSC models worldwide · Responsibilities include ensuring that model risks are correctly identified, assessed, and captured in compliance with internal requirements as well as regulatory guidelines:
Deliver comprehensive evaluation of the model’s conceptual soundness, performance outcomes, computational accuracy, and implementation and use, across all model components.
oCommunicate with onsite validators, model developers, business owners and regulatory officials to relay the issues and feedback and capture the action plans. What we value These skills will help you succeed in this role · strong critical thinking, problem solving, decision making and communication skills Education & Preferred Qualifications · PhD or Master degree in related disciplines (e.g. Finance, Statistics, Econometrics, Mathematics, Physics, Computer Science or Engineering) · At least Two to three years of experience in quantitative analysis and/or related field. · Knowledge of financial markets and products. · Strong communication skills (verbal and written in English). · Ability to communicate project plans/status in a clear, precise and timely manner. · Ability to execute on competing priorities in a timely manner. Additional requirements
· Experience in model development or model validation in risk management or risk management experience in banking/finance industry. · Finance and/or risk management certificates like CFA and FRM are preferred but not required. 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.