State Street Markets ("SSM") is looking for a Senior Managing Director ("SMD") to join the SSM Risk and Capital Optimization team in Boston. The team manages Credit and Market Risk as the First Line of Defense across SSM's business units, including Financing Solutions, FX Sales & Trading, Portfolio Solutions, and Global Link. Additionally, the team performs Financial Resource Management, covering allocation, monitoring, and optimization of capital, funding, and liquidity.
This newly created SMD role is designed to provide coordinated management of Collateral and Market Risk across SSM's expanding product set and new business ventures (including FCM) amid evolving regulatory requirements.
The SMD will collaborate mainly with the various trading desks in SSM's businesses, SSM Management, Enterprise Risk Management, Global Treasury, and Regulators. Additionally, significant client and counterparty interactions both during risk parameter negotiations and on an ongoing basis are expected.
Key Responsibilities- Design, own, and maintain all Collateral and Margin policies and models in the Front Office, including:
- UMR for OTC Derivatives trading
- Prime Services house and regulatory margin across all supported strategies and asset classes
- Collateral schedules for Agency Securities Lending and indemnified cash reinvestment Repo
- Margin and collateral exposures in sponsored access QCCP trading (FICC SMR)
- Peer-to-peer and bilateral repo trading
- Secured Fund Finance 40-Act loans
- Broker dealer execution and clearing
- FCM intra-day margin and collateral management
- Oversee daily management and monitoring of collateral across multiple products/asset classes, legal entities, and regulatory frameworks
- Work closely with business leaders, product development teams, and ERM to ensure market and collateral risks of new products are measured and managed within State Street's risk appetite and -framework
- Manage a global team of market and collateral risk analysts, including talent development, cross training, and succession/coverage planning
- Own and coordinate all Market Risk and Collateral topics during internal audits, regulatory exams, mock default exercises, etc.
- Own and maintain regulatory margin models as required (SIMM, FRTB, etc.)
- Lead technology development efforts and strategic direction of risk management infrastructure
- Ensure alignment with industry best practices through engagement with a network of peers and industry groups.
Desired Skills & Experience- In-depth experience in collateral and market risk across OTC Derivatives and Capital Markets Financing businesses, on a principal and agency basis
- 15+ years experience in capital markets risk management, Prime Brokerage and OTC Trading preferred
- Experience interacting with broad range of clients, including hedge funds, 40-Act funds, pensions funds, sovereign wealth funds and central banks
- Master's Degree or equivalent in Business, Economics, Financial Engineering, Quantitative Finance, or similar
- Professional designation (CFA, FRM) strongly preferred
- A demonstrated ability to multi-task and operate in a fast-paced, deadline-oriented environment
- Strong verbal and written communication skills, articulating complex concepts effectively to individuals from various backgrounds
- Ability to facilitate discussions and resolve conflicts between various stakeholders with competing interests.
Salary Range:$225,000 - $337,500 Annual
The range quoted above applies to the role in the location specified. If the candidate would ultimately work outside of the 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.
