Senior Financial Engineer - Product Development, Vice President

Who we are looking for As part of its middle office services, State Street maintains a multi-asset-class market risk engine used by both internal and external clients to produce sensitivities, historical simulation-based risk calculations, and factor-based risk calculations. Consumers of this output include a wide variety of asset managers and asset owners, using it for enterprise risk management, regulatory filings, and other portfolio and instrument-level analytics. The engine utilizes a full-repricing simulation methodology that requires creation and maintenance of arbitrage-free valuation models for a wide variety of financial instruments. The Financial Engineering group, working in tandem with a dedicated team of developers and other QA and IT professionals, is responsible for these models along with the upstream and downstream data processes required to operate them and produce output that serves clients’ business needs. What you will be responsible for · Research, prototype, spec, and document new models, model enhancements, and data processes for incorporation into the product · Reflect market and industry changes in future development plans · Work with Client Services and Operations personnel to support quality and timeliness of client delivery · Provide appropriate technical detail in response to queries from prospective and existing clients · Support sales efforts in cases when deep subject-matter expertise is required · Lead the implementation of solutions tailored to a system with a high degree of automation and configurability, processing extremely large volumes · Perform ad hoc research and analysis to identify valuable directions for development of the product · Work with model validation and compliance functions to support ongoing business operations What we value These skills will help you succeed in this role · Command of arbitrage-free pricing methods and their mathematical foundations · Extensive knowledge in one or more of the following derivative asset classes: rates, inflation, FX · Command of portfolio market-risk management analytics and their uses · Comfort with the estimation and use of factor models · Working knowledge of Python, C / C#, VBA, SQL · Excellent written and verbal communication skills · Team-focused contributor willing to both ask for and offer help across business functions Education & Preferred Qualifications · Graduate degree in financial engineering, quantitative finance, or comparable · Industry experience of 5 years preferred, but will consider candidates with less if it is highly relevant 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. Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspectives 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 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 programs 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 COVID-19 Protocols: Complying with State Street’s COVID-19 protocols is a condition of employment. Those requirements may vary depending on circumstances and legal requirements, and may include, without limitation, a requirement to be vaccinated (or have an accommodation), to disclose vaccination status, to provide evidence of vaccination status, etc.