Model Risk Audit, AVP

Qualifications

• Master’s degree or higher in quantitative finance, statistics, mathematics, economics, financial engineering, computer science, or a related quantitative discipline.
• Five or more years of professional experience in model development, model validation, model risk management, quantitative risk, quantitative research, Internal Audit, or a related field within a financial institution or consulting organization.
• Hands-on professional experience developing or reviewing a model across its lifecycle.
• Technical depth in at least two model or risk areas, such as credit, market, capital, liquidity, counterparty, pricing, financial crime, Treasury, investment management.
• Working proficiency in Python, R, or a comparable statistical programming language, including the ability to review, run, modify, and analyze model code and outputs.
• Ability to assess model risks and evaluate the design and effectiveness of related controls.
• Strong analytical, problem-solving, organizational, project-management, presentation, and communication skills.
• Leadership potential and the ability to develop the skills needed to manage audit engagements through planning, testing, findings, stakeholder discussions, and reporting.
• Experience leading or supporting model validation, model-risk assessments, regulatory reviews, or audit engagements is a plus.
• Knowledge of model-risk regulations and guidance, including SR 11-7, SR 15-18, or comparable regulatory expectations, is a plus.
• Experience with State Street-relevant financial products, such as custody, credit facilities, securities finance, derivatives, foreign exchange, or investment management, is a plus.
• Experience with artificial intelligence, machine learning, or financial-crime models is a plus.
• CFA, FRM, or a comparable professional designation is a plus.
• Strong written and communication skills
• Are You the Right Candidate?
• We recognize that candidates may enter this role from different quantitative and risk disciplines. Previous Internal Audit experience is not required. If you have hands-on experience developing, validating, or reviewing models and are interested in applying that expertise within an independent assurance role, we encourage you to apply.
• Salary Range:
• $80,000 - $140,000 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.
• Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: our retirement savings plan (401K) 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); and, eligibility for certain tax advantaged savings plans.
• For a full overview, visit https://hrportal.ehr.com/statestreet/Home.

About State Street

Preferred Qualifications

• Experience leading or supporting model validation, model-risk assessments, regulatory reviews, or audit engagements is a plus.
• Knowledge of model-risk regulations and guidance, including SR 11-7, SR 15-18, or comparable regulatory expectations, is a plus.
• Experience with State Street-relevant financial products, such as custody, credit facilities, securities finance, derivatives, foreign exchange, or investment management, is a plus.
• Experience with artificial intelligence, machine learning, or financial-crime models is a plus.
• CFA, FRM, or a comparable professional designation is a plus.
• Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: our retirement savings plan (401K) 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); and, eligibility for certain tax advantaged savings plans.