Senior Economic Scenario Analyst, Assistant Vice President at State Street in CLIFTON, New Jersey

Job Description:

What you will be responsible for

As senior economic scenario analyst, you will:

• Develop macroeconomic and financial market forecasting models and provide analytical support to various scenario applications with an initial focus on internal liquidity stress testing (ILST) scenario design


• Monitor firm's financial condition, size, complexity, risk profile, scope of operations, or business activities to assess firm's liquidity and funding vulnerabilities


• Design three ILST scenarios to represent adverse market conditions, idiosyncratic stress events, and combined market and idiosyncratic stresses, respectively, consistent with regulatory requirements


• Develop ad hoc scenarios that reflect the firm's unique vulnerabilities and characteristics beyond the idiosyncratic, market and combined scenarios


• Review and enhance scenario generation methodology including modeling choices in line with firm's model risk management guidelines and regulatory requirements


• Work with model owners and key stakeholders to develop and verify key scenario assumptions


• Review model outputs with properly justified opinions and judgments to capture forward-looking financial market and macroeconomic outlook


• Participate in internal workshops for scenario design and narrative development


• Implement internally developed models on risk analytical library platform


• Streamline the existing modeling and analytical process and improve execution efficiency to meet business needs


• Partner with the three lines of defense functions, such as model governance, Audit and Financial Regulatory Assurance to ensure appropriate governance and control infrastructure for scenario design and generation


• Prepare and present reports to model risk management, senior management, and regulators

These skills will help you succeed in this role:

• Knowledge and analytical mindset: solid foundation in economics and financial markets; strong analytical and quantitative mindset; ability to take initiatives and improve on existing risk models and methodologies


• 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


• 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

• Master's degree or PhD in Economics, Finance or equivalent


• 5+ years experience in macroeconomic and financial modeling and analytics in economic research firms, international organizations, think tanks, government agencies, and/or financial institutions


• Recent experiences in developing, maintaining and executing macroeconomic models for regulatory purposes in ILST space or other relevant fields


• Demonstrated experience working with economic research firms and/or consulting firms


• Demonstrated experience working with global regulators in the banking or financial services sectors; deep understanding of various regulations such as ILST (Reg YY), CCAR, QST, CECL/IFRS9, ICAAP and climate risk analysis


• Proficiency in programming languages such as Python and/or R

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we're making our mark on the financial services industry. For more than two centuries, we've been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You'll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility. We truly believe our employees' diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

Salary Range:
$100.000 - $160.000 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.

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.

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