Job Description
State Street Corporation (SSC) is one of the Global Systematically Important F
Who we are looking for:
State Street Corporation (SSC) is one of the Global Systematically Important Financial Institutions (G-SIFI) and the second oldest financial institution in the United States of America. Centralized Modelling Analytics Hangzhou (CMA Hangzhou) being a direct subsidiary to Centralized Modelling Analytics Boston, plays a key role in supporting CMA Boston initiatives and performing independent research.
Centralized Modelling Analytics (CMA) within Enterprise Risk Management (ERM) serves a critical function in risk modeling, loss forecasting, and regulatory compliance. CMA provides support in the development, deployment, and documentation of tools and methods for assessing various aspects of market, credit, operational, and liquidity risk for SSC. The team's work involves building models to support SSC's application of the advanced internal ratings-based (AIRB) approach to risk measurement under Basel III, ALLL (Allowance for Loan and Lease Losses), Federal Reserve Stress Testing, such as CCAR (Comprehensive Capital Analysis and Review), ECB stress testing Application of the AIRB approach and IFRS 9/CECL, which are pivotal inputs to the firm's capital planning process. The capital estimates support a variety of management objectives including developing regulatory reports, improving risk management, enhancing risk reporting, and allocating capital to business units. Intern would be mainly responsible for ongoing monitoring of Basel/CCAR/CECL/IFRS 9 credit models.
Why this role is important to us:
The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best.
What you will be responsible for:
As Quantitative Analyst Intern, you will
What we value:
Education & Preferred Qualifications:
About State Street
What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation we're making our mark on the financial services industry. For more than two centuries, we've been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.
Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary in locations, but you may expect generous medical care, insurance and savings plans among other perks. You'll have access to flexible Work Program to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.
Inclusion, Diversity and Social Responsibility. We truly believe our employees' diverse backgrounds, experiences and perspective are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome the candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift program and access to employee networks that help you stay connected to what matters to you.
State Street is an equal opportunity and affirmative action employer.
Discover more at StateStreet.com/careers
State Street Corporation (SSC) is one of the Global Systematically Important F
Who we are looking for:
State Street Corporation (SSC) is one of the Global Systematically Important Financial Institutions (G-SIFI) and the second oldest financial institution in the United States of America. Centralized Modelling Analytics Hangzhou (CMA Hangzhou) being a direct subsidiary to Centralized Modelling Analytics Boston, plays a key role in supporting CMA Boston initiatives and performing independent research.
Centralized Modelling Analytics (CMA) within Enterprise Risk Management (ERM) serves a critical function in risk modeling, loss forecasting, and regulatory compliance. CMA provides support in the development, deployment, and documentation of tools and methods for assessing various aspects of market, credit, operational, and liquidity risk for SSC. The team's work involves building models to support SSC's application of the advanced internal ratings-based (AIRB) approach to risk measurement under Basel III, ALLL (Allowance for Loan and Lease Losses), Federal Reserve Stress Testing, such as CCAR (Comprehensive Capital Analysis and Review), ECB stress testing Application of the AIRB approach and IFRS 9/CECL, which are pivotal inputs to the firm's capital planning process. The capital estimates support a variety of management objectives including developing regulatory reports, improving risk management, enhancing risk reporting, and allocating capital to business units. Intern would be mainly responsible for ongoing monitoring of Basel/CCAR/CECL/IFRS 9 credit models.
Why this role is important to us:
The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best.
What you will be responsible for:
As Quantitative Analyst Intern, you will
- The incumbents are expected to support the end-to-end process of data analysis, model implementation, result analysis, and ongoing monitoring of risk forecasting models
- Proactively solve quantitative as well as qualitative issues in data management, methodology, model structuring, and results reporting
- Collaborate with risk analysts and model users to design and implement efficient process controls as well as ongoing monitoring
- Collaborate with IT team on data processing and analysis
- Produce and submit ongoing monitoring reports to internal (senior management and business experts) and external (regulators) audience
What we value:
- Interests in risk management, data analytics, and quantitative modeling
- Strong written and verbal English communication skills
Education & Preferred Qualifications:
- Advanced degree in computer science, financial engineering or equivalent. Knowledge and research experience in finance & economics are strongly recommended
- Knowledge of at least one language such as R, Python, SAS, MATLAB, or Stata Experience with SAS and R is preferred Knowledge with SQL is a plus
- Knowledge of regulations (e.g., Basel, CCAR, IFRS 9/CECL, etc.) is preferable
- Relevant industry experience in banking sector risk management is a plus
About State Street
What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation we're making our mark on the financial services industry. For more than two centuries, we've been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.
Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary in locations, but you may expect generous medical care, insurance and savings plans among other perks. You'll have access to flexible Work Program to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.
Inclusion, Diversity and Social Responsibility. We truly believe our employees' diverse backgrounds, experiences and perspective are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome the candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift program and access to employee networks that help you stay connected to what matters to you.
State Street is an equal opportunity and affirmative action employer.
Discover more at StateStreet.com/careers
