Market Risk Stress Testing and Scenario Design

The ideal candidate is a market risk professional with deep expertise in regulatory stress testing and scenario design who combines strong quantitative skills with sound market judgment. They are comfortable challenging assumptions, influencing stakeholders across functions, and presenting complex methodologies to regulators, governance committees, and senior leadership.

As a Senior Specialist for Market Risk Stress Testing and Scenario Design, you will serve as a key contributor to the firm's regulatory stress testing framework, helping shape how State Street assesses vulnerability to severe market dislocations and emerging financial risks. You will play an important role in the design, governance, and evolution of Global Market Shock (GMS) and Counter party Credit Stress Testing (CCST) scenarios that support critical risk management and regulatory objectives.

Working at the intersection of financial markets, quantitative analytics, and regulatory risk management, you will partner with senior stakeholders across Market Risk, Trading, Treasury, Counter party Credit Risk, Finance, Model Risk Management, and Regulatory Assurance to develop forward-looking stress scenarios that inform decision-making and strengthen the firm's resilience under adverse market conditions.

• Develop and enhance Global Market Shock (GMS) and Counter party Credit Stress Testing (CCST) scenarios that capture severe but plausible market events across interest rates, credit spreads, equities, foreign exchange, commodities, and volatility markets.
• Influence the firm's approach to stress testing by identifying emerging risks, assessing portfolio vulnerabilities, and translating complex market developments into meaningful stress scenarios and loss assessments.
• Drive the development and calibration of market shock methodologies across thousands of risk factors, ensuring scenarios remain robust, defensible, and aligned with evolving market conditions and regulatory expectations.
• Apply quantitative analysis, historical market research, and expert judgment to evaluate scenario severity, benchmark assumptions, and enhance the effectiveness of stress testing frameworks.
• Partner with global markets and counter party credit risk managers, model owners, and senior stakeholders to challenge assumptions, evaluate scenario outcomes, and strengthen stress-testing governance across the organization.
• Contribute to the advancement of scenario design methodologies, analytical capabilities, and risk infrastructure through the development of innovative tools, models, dashboards, and visualization solutions.
• Support regulatory examinations, model governance reviews, and internal oversight activities by presenting methodologies, analyses, and scenario results to senior management, risk committees, auditors, and regulators.
• Serve as a trusted subject matter expert on market stress testing, providing insight into cross-asset market dynamics, regulatory developments, and emerging risks that could impact the firm's businesses and balance sheet.

Success in this role requires a combination deep market expertise with strong quantitative capabilities and the ability to influence decision-making across a complex global organization. We are looking for someone who can think strategically challenge assumptions constructively and communicate complex concepts clearly to both technical and non-technical audiences.

• Deep understanding of global financial markets and the relationships between risk factors across asset classes.
• Strong quantitative and analytical capabilities, with experience developing or enhancing risk methodologies and stress-testing frameworks.
• Ability to exercise sound judgment in ambiguous situations and form well-reasoned, data-driven conclusions.
• Confidence engaging with senior stakeholders and challenging assumptions in a collaborative and constructive manner.
• Strong communication and presentation skills, including the ability to explain complex technical concepts to senior leadership, governance committees, and regulators.

• Master's degree or PhD in Finance, Economics, Financial Engineering, Mathematics, Statistics, Physics, or a related quantitative discipline.
• 5+ years of experience in market risk, stress testing, quantitative analytics, financial market modeling, scenario design, or related disciplines within large financial institutions, regulatory agencies, consulting firms, or asset managers.
• Demonstrated expertise in the design, calibration, execution, or independent review of Global Market Shock (GMS), Counter party Credit Stress Testing (CCST), CCAR, or related regulatory stress-testing frameworks.
• Deep understanding of global financial markets, cross-asset risk dynamics, and market risk regulatory frameworks, including Basel market risk requirements, FRTB, trading book stress testing, and counter party credit risk.
• Proven ability to develop and…