About Model Validation Group

The Model Validation Group in Hangzhou, China will cover the models used at State Street to make business and operating decisions—most notably regulatory and economic capital models, as well as insuring the implementation of Model Risk Governance Program guidelines and requirements. These models are in areas including wholesale credit risk (e.g., probability of default, loss given default, exposure measurement, and loan loss reserving); market risk (e.g., daily value at risk pricing models, counterparty credit risk, Asset Liability Management risk, and terms structure models); operational risk; and AI/ML models related to bank’s business areas.

Duties and Responsibilities:

Work with team members in Hangzhou under the supervision of the model validation lead in China, and conduct model validation activities covering SSC models worldwide

Responsibilities include ensuring that model risks are correctly identified, assessed, and captured in compliance with internal requirements as well as regulatory guidelines:Deliver comprehensive evaluation of the model’s conceptual soundness, performance outcomes, computational accuracy, and implementation and use, across all model components.Communicate with onsite validators, model developers, business owners and regulatory officials to relay the issues and feedback and capture the action plans.

Growth and Development:

Gain experiences from a fully institutionalized model inventory and risk management system.     Evolve with the industrial and global trends like adoption of AI/ML techniques, development of digital assets, and ESG related topics.Exclusive access to internal and external training system which provides industry knowledge study sessions from experts of the related fields.  

JOB Qualifications for Officer:

Basic Qualifications:

PhD or Master degree in related disciplines (e.g. Finance, Statistics, Econometrics, Mathematics, Physics, Computer Science or Engineering)At least Two to three years of experience in quantitative analysis and/or related field.Knowledge of financial markets and products.Strong communication skills (verbal and written in English).Ability to communicate project plans/status in a clear, precise and timely manner.Ability to execute on competing priorities in a timely manner.Proficient in one or more programming languages, such as SAS, R, Stata, Matlab, Python, VBA.

Preferred Qualifications:

Experience in model development or model validation in risk management or risk management experience in banking/finance industry.Finance and/or risk management certificates like CFA and FRM are preferred but not required.

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