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 - 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.
Education & Preferred Qualifications - 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.
Salary Range: $170,000 - $282,500 Annual
The range quoted above applies to the role in the location specified. If the candidate would ultimately work outside of the location above, the applicable range could differ.
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.
