Head of Market and Collateral Risk, Senior Managing Director

State Street Markets (“SSM”) is looking for a Senior Managing Director (“SMD”) to join the SSM Risk and Capital Optimization team in Boston. The team manages Credit and Market 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.

This newly created SMD role is designed to provide coordinated management of Collateral and Market Risk across SSM’s expanding product set and new business ventures (including FCM) amid evolving regulatory requirements.

The SMD will collaborate mainly with the various trading desks in SSM’s businesses, SSM Management, Enterprise Risk Management, Global Treasury, and Regulators.  Additionally, significant client and counterparty interactions both during risk parameter negotiations and on an ongoing basis are expected.

Why this role is important to us

The team you will be joining is a part of State Street Markets. As a leading provider of trading and lending solutions to the world’s institutional investors, we deliver the industry’s most innovative platforms, financing and portfolio solutions. Our capabilities are backed by proprietary, high-value research, insights and indicators that power clients’ investment decisions, accelerate performance and help investors stay ahead of shifting markets. Across our comprehensive set of solutions – data-driven macro market intelligence that give an information advantage; client-first platforms and tools that redefine trading; financing solutions that streamline liquidity access; and portfolio solutions designed to help achieve peak performance – we deliver a breakthrough edge to drive business success.

Key Responsibilities

• Design, own, and maintain all Collateral and Margin policies and models in the Front Office, including:

  • UMR for OTC Derivatives trading

  • Prime Services house and regulatory margin across all supported strategies and asset classes

  • Collateral schedules for Agency Securities Lending and indemnified cash reinvestment Repo

  • Margin and collateral exposures in sponsored access QCCP trading (FICC SMR)

  • Peer-to-peer and bilateral repo trading

  • Secured Fund Finance 40-Act loans

  • Broker dealer execution and clearing

  • FCM intra-day margin and collateral management

• Oversee daily management and monitoring of collateral across multiple products/asset classes, legal entities, and regulatory frameworks

• Work closely with business leaders, product development teams, and ERM to ensure market and collateral risks of new products are measured and managed within State Street’s risk appetite and -framework

• Manage a global team of market and collateral risk analysts, including talent development, cross training, and succession/coverage planning

• Own and coordinate all Market Risk and Collateral topics during internal audits, regulatory exams, mock default exercises, etc.

• Own and maintain regulatory margin models as required (SIMM, FRTB, etc.)

• Lead technology development efforts and strategic direction of risk management infrastructure

• Ensure alignment with industry best practices through engagement with a network of peers and industry groups.

Desired Skills & Experience

• In-depth experience in collateral and market risk across OTC Derivatives and Capital Markets Financing businesses, on a principal and agency basis

• 15+ years experience in capital markets risk management, Prime Brokerage and OTC Trading preferred

• Experience interacting with broad range of clients, including hedge funds, 40-Act funds, pensions funds, sovereign wealth funds and central banks

• Master's Degree or equivalent in Business, Economics, Financial Engineering, Quantitative Finance, or similar

• Professional designation (CFA, FRM) strongly preferred

• A demonstrated ability to multi-task and operate in a fast-paced, deadline-oriented environment

• Strong verbal and written communication skills, articulating complex concepts effectively to individuals from various backgrounds

• Ability to facilitate discussions and resolve conflicts between various stakeholders with competing interests.

Salary Range:

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.

Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.

For a full overview, visit https://hrportal.ehr.com/statestreet/Home.

About State Street

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. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

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