Model Risk Audit, AVP

We are seeking a quantitative risk professional to join Corporate Audit as Model Risk Audit, Assistant Vice President. The role will lead and execute audit engagements focused on models, quantitative tools, analytics, and artificial intelligence used across State Street. The successful candidate will bring strong hands‑on experience developing, validating, implementing, or reviewing models within a professional financial‑services environment. Candidates coming from Model Risk Management, Model Validation, Model Development, Quantitative Risk, or Model Risk Audit will be considered based on their technical experience, leadership potential, and ability to develop audit‑management skills.

Under the direction of senior audit management, the Assistant Vice President will execute model‑risk audits across planning, risk assessment, testing, stakeholder discussions, issue development, and reporting. The individual will also monitor emerging model‑risk themes, help develop the quantitative capabilities of audit colleagues, and support broader departmental initiatives.

Corporate Audit provides independent assurance over the governance, risk management, and control processes supporting State Street’s global businesses. Models and quantitative analytics influence critical decisions across financial risk management, financial crime prevention, Treasury, Markets, and Investment Management. As the use of advanced analytics and artificial intelligence expands, independent assessment of model design, implementation, validation, monitoring, and governance becomes increasingly important. In this role, you will combine quantitative model expertise with audit and risk‑management skills to evaluate whether significant models are appropriately designed, implemented, validated, monitored, and governed.

• Lead or support model‑risk audits covering two or more areas such as credit risk, market risk, capital, liquidity, counter party risk, financial crime, pricing, Treasury, Investment Management, Markets.
• Plan and execute audits according to the Corporate Audit’s risk‑based audit methodology and internal standards, industry practices and regulatory guidance (e.g. SR 11‑7/26‑2 on Model Risk Management, ECB guide to internal models, SR 15‑18, etc.)
• Assess the design and effectiveness of controls across the model lifecycle, including development, validation, implementation, change management, monitoring, use, and governance.
• Review and assess model documentation and implementation details, model validation and ongoing monitoring results to assess the effectiveness of the model risk management control design and execution both on an individual model basis and in aggregate.
• Draft clear audit work papers, findings, memoranda, and reports that explain the risks, root causes, business impact, and recommended actions.
• Communicate audit progress, conclusions, findings, and remediation expectations to audit management and key stakeholders.
• Identify recurring or emerging model‑risk themes through audit results, management‑identified issues, validation findings, and ongoing risk monitoring.
• Develop an understanding of State Street’s products, services, data, IT application / data infrastructure, risk‑management processes, and regulatory obligations.
• Build effective relationships across Model Risk Management, Model Validation, business teams, technology teams, and the three lines of defense.
• Support knowledge sharing and cross‑training to strengthen quantitative and model‑risk capabilities across Corporate Audit.
• Coordinate and facilitate global operation of the model risk audit team to meet team and individual priorities.

• Strong…