At a Glance
- Tasks: Develop and maintain financial models for risk analytics in a dynamic environment.
- Company: Join State Street, a global leader in institutional investing.
- Benefits: Flexible work-life support, paid volunteer days, and inclusive development opportunities.
- Other info: Collaborative team culture focused on employee growth and diversity.
- Why this job: Make an impact in finance while working with cutting-edge analytics technology.
- Qualifications: Graduate degree in finance or related field; 6+ years in quantitative risk roles.
The predicted salary is between 135000 - 165000 $ per year.
truView is a multi-asset-class analytics platform offered as a service to clients of State Street. Initially developed to serve hedge funds within State Street's IFS subsidiary, truView now serves a wide variety of institutional investors, including pension funds, asset managers, and insurance companies, in addition to a growing portfolio of hedge fund clients. The system currently processes more than 10 million positions per day.
The Financial Engineering team is responsible for the development, maintenance, and ongoing support of valuation models for cash and derivative instruments. These responsibilities extend to representations of trades, the market data appropriate for valuing them, analytics output by the model for aggregation with other instruments, and the overall performance of the risk model. The FE team communicates with internal and external stakeholders to ensure that models are documented, understood, and updated where appropriate based on client requests or market changes.
A member of the FE team works on a variety of projects and tasks, including:
- Proof of concept for new modeling methods
- Definition and evaluation of required market data
- Prototyping of new or enhanced models
- Formulations of model specs for implementation by developers
- Testing of new model implementations
- Production support of new and existing models
- Design and maintain economics scenarios
- Assisting on building new infrastructure of the product
- Communication with internal and external stakeholders on modeling choices
Those with VP positions within the team usually manage a small group typically focused on a group of related products. However, any member of the team may be called on to collaborate on important projects as needed. The emphasis across the entire group is on delivery of scalable approaches to production in a timely fashion, but quality and consistency of model results, as well as robustness within a highly automated platform, are essential.
Qualifications
- Graduate degree in finance, financial engineering, mathematical finance, statistics, econometrics or similar
- Extensive knowledge of and experience with the pricing theory of a variety of financial derivatives
- 6+ years in quantitative risk-related positions, including arbitrage-free valuation models
- Extensive familiarity with industry standard risk analytics and stress testing methods
- Comfort with VBA and SQL, familiarity with C++/C#, Python, R
- Communications skills appropriate for support of coworkers located in a variety of global locations
- Excellent problem solver
- Proactive in raising questions and independent in executing daily job
- Supportive team leader, able to foster employee growth in a diverse environment
- Strong focus on quality and on addressing client needs
Desirable
- Experience with exotic interest rate and FX derivatives
- Experience with inflation derivatives
- Familiar with securitized products
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.
Financial Engineer in Toronto employer: State Street
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