What are the responsibilities and job description for the Head of Front Office Credit Risk, Managing Director (Onsite) position at State Street?
Why this role is important to us
State Street Markets (“SSM”) is looking for a Managing Director (“MD”) 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.
What You Will Be Responsible For
Reporting to the Head of Risk and FRM in Boston, this MD role is responsible for first line credit risk management across the business units in State Street Markets. Traditional counterparty credit analysis skills, combined with detailed trading product knowledge and a collaborative leadership approach are prerequisites for success.
Internally, the MD will collaborate mainly with the various trading desks in SSM’s businesses, SSM Management, Enterprise Risk Management, Global Treasury. External interactions will include meetings with clients, prospects, industry peers, and regulators like the FRB and PRA. The role is located in Boston, with a minimum of 4 days per week in the office.
What We Value
$170,000 - $282,500 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.
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.
Job ID: R-776144
State Street Markets (“SSM”) is looking for a Managing Director (“MD”) 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.
What You Will Be Responsible For
Reporting to the Head of Risk and FRM in Boston, this MD role is responsible for first line credit risk management across the business units in State Street Markets. Traditional counterparty credit analysis skills, combined with detailed trading product knowledge and a collaborative leadership approach are prerequisites for success.
Internally, the MD will collaborate mainly with the various trading desks in SSM’s businesses, SSM Management, Enterprise Risk Management, Global Treasury. External interactions will include meetings with clients, prospects, industry peers, and regulators like the FRB and PRA. The role is located in Boston, with a minimum of 4 days per week in the office.
What We Value
- Lead and further develop a global team of credit analysts located in Boston, London, and Hong Kong
- Lead Front Office Credit’s analysis and provide key input into all product expansions within SSM, including:
- new jurisdictions
- complex changes to trading strategies
- expansion of counterparty types
- private credit counterparties
- Negotiate client facing credit terms in legal agreements for all SSM counterparties, and ensure appropriate monitoring of ATEs
- Create, own, and maintain State Street Markets counterparty default plans.
- Meet (remotely and/or in person) with Global Markets current and prospective clients and brokers to present the Front Office Risk process and ensure proper due diligence has been completed for all counterparties
- Coordinate periodic and ad-hoc counterparty due diligence visits, including attendance by internal partners (ERM)
- Provide strategic guidance and ensure risk excellence as a SME on regulatory and/or client-related projects in collaboration with ERM and senior management
- Coordinate and lead crisis simulation exercises.
- Respond quickly in times of counterparty stress, and lead efforts to reduce exposure when necessary.
- Represent Front Office Credit Risk in global, business-wide meetings and updates.
- Master's Degree or equivalent in an economics or business related field
- 10-15 years experience in counterparty credit risk preferred
- Deep product knowledge in securities lending, prime brokerage, and OTC derivatives including FX
- Professional designation (CFA, FRM) preferred
- 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, ability to facilitate discussions and resolve conflicts between various stakeholders with competing interests.
$170,000 - $282,500 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.
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.
Job ID: R-776144
Salary : $170,000 - $282,500