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.
• 5+ year experience developing, validating, implementing, or independently reviewing quantitative models within a financial institution, financial-services organization, or financial-risk consulting environment.
• Demonstrated hands-on professional model experience, including substantive responsibility for assessing model methodology, assumptions, data, implementation, code, performance, limitations, monitoring, or validation conclusions.
• Experience performing quantitative model assessment techniques such as back testing, benchmarking, sensitivity analysis, stress testing, scenario analysis, challenger analysis, and model-performance monitoring, as appropriate to the models reviewed.
• Demonstrated ability to critically evaluate and provide independent challenge of model methodologies, assumptions, data, implementation, performance, limitations, and intended use.
• Strong understanding of the model lifecycle, including development, validation, implementation, change management, ongoing monitoring, issue remediation, use, and governance.
• Working proficiency in Python, R, or a comparable statistical programming language, including the ability to review, run, modify, and analyze model code, data, and outputs.
• Ability to assess model risk and the design and effectiveness of controls supporting model development, validation, implementation, monitoring, and governance.
• Strong quantitative judgment and analytical skills, with the ability to quickly understand unfamiliar models, methodologies, products, and risks.
• Ability to translate complex quantitative concepts and model findings into clear risk, control, and business implications for technical and nontechnical stakeholders.
• Strong written and verbal communication, organizational, problem-solving, and project-management skills.
• Leadership potential and the ability to develop the skills required to manage audit engagements through planning, risk assessment, testing, issue development, stakeholder discussions, and reporting.
• Preferred Experience
• Experience developing, validating, or reviewing models used in areas such as credit risk, market risk, capital, liquidity, counterparty risk, pricing, Treasury, Investment Management, or financial crime.
• Experience leading or supporting independent model validations, model-risk assessments, regulatory reviews, or quantitative audit engagements.
• Knowledge of model-risk regulations and guidance, including SR 11-7, SR 15-18, SR 26-2, ECB guidance, or comparable regulatory expectations.
• Experience with financial products relevant to State Street, including custody, securities finance, derivatives, foreign exchange, credit facilities, Treasury, Markets, or Investment Management.
• Experience with artificial intelligence, machine learning, advanced analytics, or financial-crime models.
• CFA, FRM, or a comparable professional designation preferred.
• 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

• Preferred Experience
• CFA, FRM, or a comparable professional designation preferred.
• 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.