Head Of Credit Risk Modeling And Analytics

Who We Are Looking For

An experienced, senior level professional with a strong technical and quantitative aptitude to act as Managing Director and Head of Credit Risk Modeling and Analytics based in New York, New Jersey, Stamford or Boston. This role will report to the Senior Vice President, Head of Central Modeling, Analytics and Data Risk Management, within Enterprise Risk Management’s Financial Risk Organization.

This role can be performed in a hybrid model, where you can balance work from home and office to match your needs and role requirements.

Why this role is important to us

The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best. Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What You Will Be Responsible For

As Head of Credit Risk Modeling and Analytics you will:

• 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
• Lead a team to develop PD/LGD/EL models and to provide quantitative support to credit risk analytical processes including CCAR, CECL/IFRS9, BASEL and ICAAP
• Streamline the existing modeling and analytical process; increasing the pace of execution to meet the needs of the business
• Prepare and present required reports/reviews to model risk management, senior management and global regulators
• Implement internally developed models on risk analytical library platform
• Develop credit portfolio risk models for economic capital
• Develop models to meet the model use requirements
• Review and enhance credit risk analytical methodology including modeling choices in line with expanding business and regulatory requirements
• 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
• Effectively manage a team of mid-level managers in a hybrid environment to deliver results

What We Value

These skills will help you succeed in this role

• Communicator: clear, confident, self-assured communication style, coupled with an ability to react and adapt to various audiences and environments without diluting effectiveness
• Strong analytical and quantitative mindset; ability to take ownership and improve on existing risk models and methodologies
• Organizational strengths: an ability to organize resources, processes and priorities to ensure business needs are met in a coordinated, responsive and timely manner, with minimal direction
• Talent manager: an ability to quickly assess strengths and weaknesses of team members at all levels, and ability to identify developing talent and nurture accordingly, and an ability to deliver clear, honest
• 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
• 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

Education & Preferred Qualifications

• Proven ability to manage a team of mid-level managers and professionals
• Demonstrated proficient understanding of industrial best practices of credit model development
• Recent experiences in developing and executing models in analytical library platform
• PhD in a quantitative field. Such as Economics, Statistics, Mathematics, Finance or equivalent
• Proven interpersonal and communication skills at both the executive and regulator level
• Demonstrated experience working with Global Regulators in the banking or financial services sectors; proficient understanding of various regulations such as BASEL III, stress testing and CCAR
• 15+ years of experience in credit risk model development in a regulatory financial institution

What We Offer

Wide range of benefits, including:

• Vision
• Employee Assistance Program (EAP)
• Business Travel Accident Insurance
• Salary Savings Program (SSP)
• Short-Term Disability
• Medical
• Critical Illness Insurance
• Paid Time Off
• Accident Insurance & Hospital Indemnity Insurance
• Health Savings Account (HSA)
• Employee-Paid Life and Accidental Death & Dismemberment (AD&D) Insurance
• Flexible Spending Accounts (FSAs)
• Prescription Drug
• Employee-Paid Long-Term Disability
• Dental
• BeWell Programme
• Legal Benefits
• Identity Theft Protection

Are you the right candidate? Yes!

We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don’t necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.

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

Salary Range

$175,000 - $287,500 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.

Job ID: R-738670