Credit Risk Lead, Vice President at State Street

Credit Risk Lead, Vice President

State Street Markets (“SSM”) is looking for a Vice President (”VP”) to join the SSM Risk and FRM team in Boston. The team manages Credit, Market, and Model 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.

Job Description

Reporting to the Head of Credit Risk, MD this VP role is responsible for first line credit risk management across the business units in State Street Markets. Counterparty credit analysis experience combined with trading product knowledge and a collaborative approach are prerequisites for success.

Internally, the VP will collaborate mainly with the various trading desks in SSM’s businesses, SSM Management, Enterprise Risk Management, and Product Development. External interactions will include meetings with clients, prospects and industry peers. The role is located in Boston, with a minimum of 4 days per week in the office.

Key Responsibilities

• Conduct credit reviews of counterparties and prospects within each SSM business line.

• Negotiate client facing credit terms in legal agreements for SSM counterparties and support appropriate monitoring of ATEs

• Conduct periodic and ad-hoc counterparty due diligence visits, including attendance by internal partners (ERM)

• Provide SME input on product development and/or client-related projects in collaboration with ERM

• Manage and train junior analysts as required, including product cross-training.

• Manage the collection of up-to-date financial information for all of our counterparties.

• Coordinate review and analyze credit utilization reports and investigate any over-limit conditions.

• Respond quickly in times of counterparty stress, and contribute to efforts to reduce exposure when necessary.

• Represent Front Office Credit Risk in global, business-wide meetings and updates.

Desired Skills & Experience

• Bachelor's Degree or equivalent in an economics or business-related field. Advanced degree preferred.

• 5-10 years experience in counterparty credit risk preferred

• Product and market knowledge in securities lending and prime brokerage

• Willingness to learn OTC derivatives products including FX

• Professional designation (CFA, FRM) preferred but not required

• Strong risk management and control focus

• A demonstrated ability to multi-task and operate in a fast-paced, deadline-oriented environment

• Strong verbal and written communication skills.

Salary Range:

$120,000 - $202,500 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 https://hrportal.ehr.com/statestreet/Home.

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.

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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.