Quantitative Analyst, Assistant Vice President

Who We Are Looking For A strong quantitative modeler to join the team as Assistant Vice President and Credit Risk Modeler based in New Jersey, Connecticut, or Boston. This role is part of the Centralized Modeling, Analytics and Operations Group within Enterprise Risk Management’s Financial Risk Organization. Responsibilities Develop credit risk models (PD/LGD/EL) to provide quantitative support to credit risk analytical processes for State Street’s Commercial Real Estate (CRE) portfolio. Develop PD/LGD/EL models to support other wholesale non‑CRE sectors such as Corporate, Private Equity (PE) Fund, and Private Credit (PC) exposures. Develop credit portfolio risk models for CCAR/CECL/IFRS‑9/BASEL/Ratings/ICAAP use cases and for economic capital. Review and enhance credit risk analytical methodology, including modeling choices in line with expanding business and regulatory requirements. Verify key model assumptions with model owners. Review model outputs with appropriately justified expert opinions to capture forward‑looking financial market and macro‑economic outlooks. Implement internally developed models on the risk analytical library platform. Streamline the existing modeling and analytical process to increase the pace of execution and meet business needs. Work closely with the three lines of defense functions—model governance, Corporate Audit, and Financial Regulatory Assurance—to ensure appropriate governance and control infrastructure. Prepare and present required reports and reviews to model risk management, senior management, and global regulators. Qualifications Strong analytical and quantitative mindset with ownership to improve existing risk models and methodologies. Enthusiastic leader who can motivate a diverse, multi‑level workforce and instill urgency on evolving goals. Excellent organizational skills for managing projects, processes, and priorities to meet business needs with minimal direction. Self‑assured, experienced, and knowledgeable; able to quickly garner support for informed analysis and negotiate when needed. Clear and confident communication style, adaptable to various audiences and environments. Education & Preferred Qualifications PhD in statistics, econometrics, or related field with a focus on survival analysis/event history or similar; heavy programming experience in Python, R, C/C++, SQL, etc. Undergraduate training in mathematics and probability theory (measure theory) and knowledge of stochastic calculus is a plus. 3–5 years of experience for an MS, 2+ years for a PhD (fresh PhDs with strong programming skills also considered) developing credit risk models in a financial institution. Strong programming skills in Python, R, C/C++, SQL, etc. Demonstrated experience working with model development teams, analytical library development teams, and technology. Motivated to apply statistics and econometric methodologies to resolve credit risk modeling challenges in the financial industry. Salary Range $90,000 – $157,500 annual. Benefits Employees are eligible to participate in State Street’s comprehensive benefits program, which includes a 401(k) retirement savings plan with company match; insurance coverage including basic life, medical, dental, vision, long‑term disability, and optional additional coverages; paid time off (vacation, sick leave, short‑term disability, family care); Employee Assistance Program; incentive compensation with eligibility for annual performance‑based awards (excluding certain sales roles); and eligibility for certain tax‑advantaged savings plans. Equal Opportunity Statement As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law. Job ID R‑790888 Legal Disclosure It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability. #J-18808-Ljbffr State Street