State Street Corporation.
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Background – State Street Global Markets (SSGM) engages in sales and trading activities in both agency and principal basis with a primary focus on FX and Interest Rates trading conducted in four global centers: Boston, New York, London and Hong Kong. State Street is implementing a risk oversight for key growth areas while continuing to meet the regulatory challenges. Enhancing the risk infrastructure for the Securities Finance area in an effort to enhance its functionality will be the focus going forward.
Key Job Functions
§ The role is for a senior person who will take ownership and responsibilities of an entire set of projects, interacting with all teams across the globe (ERM, Business, IT and more).
§ Decide in collaboration with the team of the architecture of the ERM platform and also business front lines.
§ Replacement of platform for $450bn Agency lending program using vendor MSCI to achieve several key requirements.
§ Assist the team to ensure smooth day-to-day operation of the risk management while implementing and developing new reports for securities finance risk teams.
§ Collaborate with team of risk analysts intra-department to holistically deliver risk management solutions.
§ Work with all key stakeholders to ensure a robust and timely management for intraday and end-of-day risk.
§ Supporting ERM IT to implement internal aggregation engine to handle inputs from multiple risk calculation platforms and to implement risk reporting database infrastructure.
Project Deliverable: EC Credit VaR model automation (MARS retirement)
• Objective: Fully automate credit VaR processing (eliminate dependency on desktop excel tool) to materially improve timeliness (ensure 7 AM exposure reporting SLO) and data quality controls
• Development Scope:
o Integrate EC risk position and netting set info from SPD to trading exposure management DB
o Automate EC risk data enrichment and data governance controls
o Fully automate data feeds to/from RiskMetrics vendor platform
o Fully automate credit VaR aggregation and credit exposure reporting (by 7 AM SLO)
o Automate data quality controls and exception reporting
o Enable EC exposure data access for adhoc analysis and reporting
o Automate enhanced custody exposure reporting process for EMEA and APAC start of day
o Retire legacy MARS infrastructure
Project Deliverable: Decommission securities finance Basel 2 infrastructure (STARS Retirement)
• Objective: Integrate risk and regulatory systems to the new Securities Finance data infrastructure and streamline risk data processing and enhanced SF risk data governance
• Development Scope:
o Integrate SF risk position and netting set info from SLD to trading exposure management DB
o Migrate FDIC regulatory reporting to consume SF positions from SLD transaction consolidation
o Migrate Advent to consume SF positions from SLD transaction consolidation
o Migrate STARS UI functions to new solution
o Migrate SF reference data to OIR reference data to ESP (change ownership)
§ 6 years of experience in market risk or trading in capital markets
§ Strong understanding of risk measures/methodologies: greeks, VAR, Stress Testing
§ Solid programming/development background: Excel/VBA, SQL efficiency required
§ Very Strong communication and interpersonal skills; ability to collaborate with others at all levels and across all regions
§ Self-directed pro-active personality requiring minimal supervision
§ Strong analytical and problem solving skills
§ Ability to work on multiple tasks and manage workload and priorities
Job Opening ID
New York- New York-USA
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State Street Corporation.
Website : http://www.statestreet.com
State Street is a leading financial services provider serving some of the world’s most sophisticated institutions. We offer a flexible suite of services that spans the investment spectrum, including investment management, research and trading, and investment servicing.