About this opportunity
State Street lists this Quantitative Analyst, Assistant Vice President opportunity in clifton, New Jersey. Review the employer’s description below for duties, qualifications and application requirements.
Job description
Who We Are Looking For
A strong quantitative modeler to join the team as Assistant Vice President and Credit Risk Modeler based in New Jersey, Connecticut, or Boston. This role is part of the Centralized Modeling, Analytics and Operations Group within Enterprise Risk Management’s Financial Risk Organization.
Why this role is important to us
The team you will be joining plays a critical role in the organization’s overall success. Across the globe, institutional investors rely on us to manage risk, respond to complex challenges, and drive performance and profitability. To deliver on that mission, we need teams like yours—teams that help the organization operate effectively, adapt quickly, and remain resilient. In this role, you will focus on developing cutting‑edge solutions that are both scalable and practical, while contributing to strong day‑to‑day execution. Join us if you are motivated to make a meaningful impact in the financial services industry from day one.
What You Will Be Responsible For
Develop credit risk models (PD/LGD/EL) to provide quantitative support to credit risk analytical processes for State Street’s Commercial Real Estate (CRE) portfolio
Develop PD/LGD/EL model to support other wholesale non-CRE sectors, such as Corporate, Private Equity (PE) Fund and Private Credit (PC) exposures.
Develop credit portfolio risk models for CCAR/CECL/IFRS9/BASEL/Ratings/ICAAP use cases, as well as for economic capital
Review and enhance credit risk analytical methodology including modeling choices in line with expanding business and regulatory requirements
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
Implement internally developed models on risk analytical library platform
Streamline the existing modeling and analytical process; increasing the pace of execution to meet the needs of the business
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
Prepare and present required reports/reviews to model risk management, senior management and global regulators
What We Value
Strong analytical and quantitative mindset; ability to take ownership and improve on existing risk models and methodologies
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
Organizational strengths: an ability to organize projects, processes and priorities to ensure business needs are met in a coordinated, responsive and timely manner, with minimal direction
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
Communicator: clear, confident, self‑assured communication style, coupled with an ability to react and adapt to various audiences and environments without diluting effectiveness
Education & Preferred Qualifications
PhD in statistics or econometrics or equivalent, prefer research area in survival analysis/event history analyses or related areas; Prefer PhD research that involves heavy programming work with strong programming skills in Python/R/C/C++/SQL etc.
Undergraduate training in mathematics and probability theory (measure theory) with good knowledge of stochastic calculus is a big plus.
3‑5 years of experiences for MS, 2+ years of experience for PhD (will consider fresh PhD with solid academic background and strong programming skills) of developing credit risk modeling in a financial institution
Strong programming skills in Python/R/C/C++/SQL etc.
Demonstrated experiences working with model development teams, analytical library development team and technology
Motivated and fascinated in how to apply statistics and econometric methodologies to resolve credit risk modeling challenges in financial industry
Salary Range
$100,000 - $167,500 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.
Benefits
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
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 opportunities, flexible work‑life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.
Equal Opportunity Employer statement
As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.
Discover more information on jobs at StateStreet.com/careers
Read our CEO Statement
Job Application Disclosure
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
Job ID: R-
#J-18808-Ljbffr
Worksite address
clifton, NJ, 07015, US
Who can apply
Review the original listing for work authorization, qualifications and employer requirements.