Market Risk Manager - Interest Rates, Vice President

Job Description

State Street Global Treasury Risk Management (GTRM) provides second line oversight of trading market risk across Markets and Treasury divisions as well as capital, liquidity and investment risk oversight of the firm’s Treasury activities in the banking book. GTRM is a unit within the Financial Risk group of Enterprise Risk Management (ERM).

We seek to hire an experienced senior Market Risk Manager to provide second line oversight of the bank’s trading and market risk activities within the Markets and Treasury divisions across the globe.

Position and Primary Duties and Responsibilities

The Market Risk Manager will:

• Provide global independent risk oversight of market risk, including identification of risks and drivers, establishment and maintenance of risk limits and other risk controls, measurement and analysis of risks, and monitoring and reporting of risks, including validation of position data and risk calculations

• Help develop and implement risk management systems (specifying requirements, supporting implementation and testing)

• Prototyping and development of enhanced risk management tools

• Collaborate with the Model Analytics team in implementation of market risk metrics and models

• Perform stress testing, identify portfolio vulnerabilities and support the stress testing scenario design process

• Monitor Market Risk limits and appropriately escalate exceptions

• Identify risks and assess the implementation requirements for new products

• Analyze, implement and ensure adherence to established and new regulatory requirements, like the Market Ris Rule, Fundamental Review of the Trading Book (FRTB), Volcker, and Swap Dealer requirements

• Develop good working relationships with colleagues within Financial Risk and ERM, business units, support functions (e.g., operations, assurance functions) and technology. Interaction with traders and other support functions required

• Contribute to risk and/or regulatory projects as required; independently driving forward assigned tasks

This position is for a self-motivated senior Market Risk Manager with a strong technical and quantitative aptitude, expert knowledge of traded products and their risks as well as the regulatory landscape and the ability to influence and engage senior stakeholders. The candidate will contribute to the establishment and maintenance of best practices and governance policies pertaining to report compilation, data integrity, and distribution.

Qualifications, Skills and Experience

• 7+ years of experience in market risk, ideally within a major bank

• A bachelors or advanced degree in economics, finance, a quantitative or other related field required

• Familiarity with Foreign Exchange and Interest Rate Derivatives; in-depth knowledge of interest swaps, cross-currency swaps, forwards, FX NDFs, FX and IR options

• Strong quantitative background, experience in risk modelling, ability to take model ownership and improve on existing risk models (Value-at-Risk, sensitivities, back-testing)

• Excellent systems skills and ability to develop prototypes using Python and SQL; experience using Bloomberg/Reuters preferred

• Critical thinking ability and analytical skills - able to identify problems and limitations, propose solutions, and proactively address these directly.

• Ability to communicate and write clear and precise technical documentation describing processes and methodologies.

• Comfortable in conflict resolution

• Team player with unquestionable integrity and ethical standards

Salary Range:

$120,000 - $202,500 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.

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

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunit