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. Why this role is important to us The team you will be joining plays a critical role in the organization’s overall success. Across the globe, institutional investors rely on us to manage risk, respond to complex challenges, and drive performance and profitability. To deliver on that mission, we need teams like yours—teams that help the organization operate effectively, adapt quickly, and remain resilient. In this role, you will focus on developing cutting‑edge solutions that are both scalable and practical, while contributing to strong day‑to‑day execution. Join us if you are motivated to make a meaningful impact in the financial services industry from day one. What you will be responsible for 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 model 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/IFRS9/BASEL/Ratings/ICAAP use cases, as well as for economic capital. Review and enhance credit risk analytical methodology including modeling choices in line with expanding business and regulatory requirements. Review and verify key model assumptions with model owners. Review model outputs with properly justified opinions and judgments by experts from credit risk managers to capture forward‑looking financial market and macro‑economic outlooks. Implement internally developed models on risk analytical library platform. Streamline the existing modeling and analytical process; increasing the pace of execution to meet the needs of the business. Work in close partnership with the three lines of defense functions, such as model governance, Corporate Audit and Financial Regulatory Assurance to ensure appropriate governance and control infrastructure for credit risk analytics. Prepare and present required reports/reviews to model risk management, senior management and global regulators. What we value Strong analytical and quantitative mindset ; ability to take ownership and improve on existing risk models and methodologies. Energetic/motivator : an enthusiastic individual with proven leadership skills and an ability to motivate a diverse, multi‑level workforce and instill a sense of urgency on a range of evolving goals and objectives. Organizational strengths : an ability to organize projects, processes and priorities to ensure business needs are met in a coordinated, responsive and timely manner, with minimal direction. Confidence : a self‑assured, experienced and knowledgeable individual able to quickly garner support for his/her views based on informed, well‑presented direction or analysis, with a willingness to negotiate, and concede, when needed. Communicator : clear, confident, self‑assured communication style, coupled with an ability to react and adapt to various audiences and environments without diluting effectiveness. Education & Preferred Qualifications PhD in statistics or econometrics or equivalent, preferably research area in survival analysis/event history analyses or related areas; prefer PhD research that involves heavy programming work with strong programming skills in Python/R/C/C++/SQL, etc. Undergraduate training in mathematics and probability theory (measure theory) with good knowledge of stochastic calculus is a big plus. 3‑5 years of experience for MS, 2+ years of experience for PhD (will consider fresh PhD with solid academic background and strong programming skills) of developing credit risk modeling in a financial institution. Strong programming skills in Python/R/C/C++/SQL, etc. Demonstrated experiences working with model development teams, analytical library development team and technology. Motivated and fascinated in how to apply statistics and econometric methodologies to resolve credit risk modeling challenges in the financial industry. Salary Range $90,000 - $157,500 Annual. The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ. Benefits Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: Retirement savings plan (401(k)) with company match Insurance coverage including basic life, medical, dental, vision, long‑term disability, and other optional additional coverages Paid‑time off including vacation, sick leave, short‑term disability, and family care responsibilities Access to our Employee Assistance Program Incentive compensation including eligibility for annual performance‑based awards (excluding certain sales roles subject to sales incentive plans) Eligibility for certain tax‑advantaged savings plans Equal Opportunity Employer 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 Application 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