Quantitative Analyst (State Street Bank and Trust Company; Boston, Massachusetts): The Quantitative Analyst is responsible for measuring State Street's regulatory and economic capital requirements to ensure compliance with Basel-related banking regulations. The Quantitative Analyst is required to apply solid knowledge of Basel II/III regulations, DFAST and CCAR processes, and AMA operational risk modeling, specifically the Loss Distribution Approach (LDA), and scenario analysis. In particular, the Quantitative Analyst will build risk models covering credit risk, operational risk and business risk. Specific duties of the position include: developing quantitative models to quantify risk with frequent application of multivariate statistics and simulation methodologies; performing back-testing, sensitivity testing, and stress testing of models, and managing large and/or complex data sets using statistical tools and database technologies; critically reviewing external studies and adopting methodologies in those studies to appropriately quantify State Street's risk; collaborating with staff in the business areas to gain an understanding of business issues and to reflect that understanding in the risk models and methods; writing technical documentation, and presenting results of work to senior management and regulators; working with the information technology group to document business requirements and to ensure methodologies are accurately implemented in production systems; and completing ad hoc assignments in the general areas of credit risk, operational risk, and business risk.
Minimum requirements are: Master's degree in Statistics, Mathematics, Finance, Management Science and Engineering, Financial Engineering, or a related field, or its equivalent, and 3 years of relevant work experience. #LI-DNI
Must have: proven solid ability working with large and complex data sets including relational databases and complex queries; demonstrated proficiency with Matlab and working knowledge of Excel VBA, R, and SAS; demonstrated comprehensive understanding of multivariate statistics and simulation methodologies, and the proven ability to apply this understanding to develop quantitative models to quantify risk; demonstrated strong written and verbal communication skills, and an ability to present material to various audiences including upper management and regulators; and proven ability to take initiative, adapt and learn quickly, and be a self-starter. (Unless otherwise indicated, State Street is seeking the ability in the skills listed above with no specific amount of years of experience required. All experience can be gained concurrently.)