Head of Macroeconomic Modeling and Scenario Application

What you will be responsible for

As Head of Macroeconomic Modeling and Scenario Application you will:

Lead a team to develop macroeconomic models and provide quantitative support to various scenario applications including CCAR, CECL/IFRS9, ICAAP, BAU stress testing and climate risk analysis
Review and enhance scenario generation analytical methodology including modeling choices in line with firm’s risk profile and regulatory requirements
Develop models to meet the model use requirements
Review and verify key model assumptions with model owners
Review model outputs with properly justified opinions and judgments to capture forward-looking financial market and macro-economic outlooks
Implement internally developed models on risk analytical library platform
Streamline the existing modeling and analytical process; increasing the pace of execution to meet the needs of the business
Work in close partnership with the three lines of defense functions, such as model governance, Audit and Financial Regulatory Assurance to ensure appropriate governance and control infrastructure for credit risk analytics
Prepare and present required reports/reviews to model risk management, management and regulators

What we value

These skills will help you succeed in this role:

Strong analytical and quantitative mindset; ability to take ownership and improve on existing risk models and methodologies
Energetic/motivator: an enthusiastic individual with proven leadership skills and an ability to motivate a diverse, multi-level workforce and instill a sense of urgency on a range of evolving goals and objectives
Organizational strengths: an ability to organize resources, processes and priorities to ensure business needs are met in a coordinated, responsive and timely manner, with minimal direction
Confidence: a self-assured, experienced and knowledgeable individual able to quickly garner support for his/her views based on informed, well-presented direction or analysis, with a willingness to negotiate, and concede, when needed
Communicator: clear, confident, self-assured communication style, coupled with an ability to react and adapt to various audiences and environments without diluting effectiveness
Talent manager: an ability to quickly assess strengths and weaknesses of team members at all levels, and ability to identify developing talent and nurture accordingly, and an ability to deliver clear, honest

Education & Preferred Qualifications

Masters degree or PhD in Economics, Finance or equivalent
10+ years experience of macroeconomic modeling and analytics in economic research firms or regulatory financial institutions
Recent experiences in developing and executing macroeconomic models for regulatory purposes (e.g., CCAR, ICAAP and climate risk analysis)
Demonstrated experience working with economic research firms
Demonstrated experience working with Global Regulators in the banking or financial services sectors; proficient understanding of various regulations such as CCAR, ICAAP and climate risk analysis

Proven interpersonal and communication skills at both the executive and regulator level

Salary Range:

$140,000 - $222,500 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.

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CEO of State Street

Ronald O’Hanley

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By State Street

At State Street, inclusion and diversity are embedded in our values and culture. We know that an inclusive culture and a diverse workforce make us stronger and more successful. In a fast-paced and evolving world, we make it a priority to ensure ...

46 jobs

FUNDING

Private

INDUSTRY

Investment & Asset Management

TEAM SIZE

10000+

LOCATION

Hybrid, based in Boston, MA

DATE POSTED

June 9, 2023