Equity Swaps Market Risk Manager

Job Description

Financial Risk Trading and Market Risk Management (TMR), a team within State Street’s Enterprise Risk Management (ERM) department, is seeking an experienced Equity Swaps Market Risk Manager. The primary focus for the position will be the independent risk oversight and assessment of State Street Markets Prime Services Equity Swaps business trading and market risk.

Trading and Market Risk

The goal of ERM is to ensure that State Street’s risks are proactively identified, well-understood, and prudently managed in support of our business strategy. As such, ERM provides risk oversight, support, and coordination to ensure consistent identification, measurement and management of all risks arising from the provision of products and services to our clients. TMR focuses on these responsibilities for the bank’s trading and market risk activities within our Global Markets division.

Position and Primary Duties and Responsibilities

The Equity Swaps Market Risk Manager will :

Provide global independent risk oversight of market risk, identification of risks and drivers, development and maintenance of a risk management framework including : risk limits and other risk and governance controls, measurement and analysis of risks, and monitoring and reporting of risks, including validation of position data and risk calculations.

Help develop and implement risk management systems (specifying requirements, supporting implementation and testing)

Prototyping and development of enhanced risk management tools

Collaborate with the Model Analytics team in implementation of market risk metrics and models

Perform stress testing, identify portfolio vulnerabilities and support the stress testing scenario design process

Monitor Market Risk limits and appropriately escalate exceptions

Identify risks and assess the implementation requirements for new products

Analyze, implement and ensure adherence to established and new regulatory requirements, like the Fundamental Review of the Trading Book (FRTB), and Swap Dealer requirements

Develop good working relationships with colleagues within Financial Risk and ERM, business units, support functions (e.g., operations, assurance functions) and technology. Interaction with traders and other support functions required

Contribute to risk and / or regulatory projects as required; independently driving forward assigned tasks

This position is for a self-motivated Market Risk Manager with a strong technical and quantitative aptitude, expert knowledge of equity swap products and their risks as well as the regulatory landscape, and the ability to influence and engage senior stakeholders. The candidate will contribute to the establishment and maintenance of best practices and governance policies pertaining to report compilation, data integrity, and distribution.

Qualifications, Skills and Experience

7+ years of experience in market risk, ideally within a major bank

3+ years of experience in risk managing Equity Swaps required

Strong understanding of equity swaps and swap structures (including equity index / basket swaps), pricing and risk characteristics.

A bachelors or advanced degree in economics, finance, a quantitative or other related field required

Strong quantitative background, experience in risk modelling, ability to take model ownership and improve on existing risk models (Value-at-Risk, Sensitivities, back-testing).

Excellent systems skills and ability to develop prototypes using Python and SQL; experience using Bloomberg / Reuters preferred

Critical thinking ability and analytical skills - able to identify problems and limitations, propose solutions, and proactively address these directly.

Ability to communicate and write clear and precise technical documentation describing processes and methodologies.

Comfortable in conflict resolution

Are you the right candidate? Yes!

We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don’t necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.

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 by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Discover more at StateStreet.com / careers

Salary Range :

$125,000 - $200,000 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.

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.

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.