Strategic Risk Analyst

7 days ago


Étreux, Hauts-de-France, United States State Street Corporation Full time

State Street's Model Risk Management (MRM) function is a critical component of the company's risk management framework, responsible for ensuring that models used in decision-making processes accurately reflect potential risks and opportunities. The Strategic Risk Analyst will play a key role in this effort by participating in model validation to identify, assess, and manage model risks.

The focus of MRM's validation work includes models related to compliance, credit risk, macroeconomic scenario generation, market risk, securities finance, asset management, and stress testing. Specific tasks performed during model reviews include:

  • Evaluating model theory and assumptions, as well as considering modeling methods and alternative options.
  • Testing and verifying model results using documented procedures for running models.
  • Assessing computational accuracy by reviewing code documentation for proper model implementation and simulating results.
  • Verifying the integrity of data inputs.
  • Assessing model performance, stability, and robustness through backtesting, sensitivity testing, and stress testing.
  • Presenting findings from model validation work to senior management and recommending improvements.

To be successful in this role, candidates should possess a strong background in finance, economics, financial engineering, statistics, math, or a related field. Relevant work experience in a financial services firm, particularly in model validation, is highly valued. Additionally, excellent quantitative modeling, analytical, research, and programming skills are essential, with proficiency in languages such as MATLAB, R, Python, SAS, Stata, and SQL. Strong written and verbal communication skills are also necessary for effective collaboration and presenting findings to stakeholders. Furthermore, project management skills are crucial for working independently on multiple projects and meeting deadlines.

The estimated annual salary for this position is between $115,000 and $167,500, reflecting the complexity of the role and the level of expertise required. This range applies to the role in Boston, MA, and may vary depending on location.



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