Head of Markets Model Risk Management, MD

Who we are looking for

State Street Markets (“SSM”) is looking for a Managing Director (“MD”) to lead the SSM Model Risk team in Hangzhou, China. SSM’s Model Risk team provides supports models in SSM’s business units, including Financing Solutions, FX Sales & Trading, Portfolio Solutions, Global Link, State Street Associates, and SSM Market Surveillance, allowing business units to meet Model Risk requirements from internal oversight functions and external regulators.

What's the value for you

The MD collaborates with model owners and leads the execution of Model Risk regulatory requirements for new and existing quantitative models and supports Model Risk Governance Infrastructure implementation. Covering the portfolio of SSM’s quantitative models, the MD:

• Supports business growth initiatives such as product expansions, resource optimization efforts and geographical expansions.

• Executes Model Risk program in a consistent, effective and efficient manner

• Leads regulatory exams as well as internal audits to demonstrate effective model risk controls

• Collaborates with Model Validation Group in establishing and enhancing comprehensive policies and procedures

• Provides quantitative support to Market Surveillance team

What you will be responsible for

• Lead a team of quantitative analysts across different geographical locations in identifying and managing model risks across all Markets businesses

• Provide training and guidance to the team for effective execution of Model Risk program

• Support business growth initiatives such as product expansions, resource optimization efforts and geographical expansions by prioritizing and expediting related model risk work for new and complex products, new and evolving regulations and changing market conditions.

• Lead regulatory exams related to model risk management of any or all Markets businesses

• Lead internal exams from controls functions such as audit related to Markets models

• Design and execute controls for models requiring frequent changes

• Support Model Validation Group in enhancing model risk policies based on emerging technologies, regulatory feedback and evolving governance frameworks.

• Help achieve key Risk Appetite Metrics based on the benchmarks set by Model Validation Group

Desired Skills & Experience

• Graduate degree in a quantitative discipline (Financial Mathematics, Financial Engineering, Mathematics, Statistics, or a related field)

• 8 to 12 years of working experience in model risk field

• Demonstrated expertise in quantitative analysis methods covering OTC derivatives, delta-1 FX, repo, and securities lending transactions

• Advanced programming skills in at least one supported statistical programming environment (Python, R, or MATLAB), with intermediate programming skills in VBA and other languages. Java experience is a plus

• High level understanding of bank capital, liquidity, and stress testing related regulations

• A demonstrated ability to lead and manage a team of talented quantitative analysts across different geographical locations

• Strong verbal and written communication skills, track record of presenting complex quantitative issues to non-expert audiences

• Ability to resolve high-stakes conflicts between various stakeholders with competing interests

About State Street

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

Discover more at StateStreet.com/careers