$110.000 - $185.000 Annual

Boston, Massachusetts

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$110.000 - $185.000 Annual

This senior role will be responsible for coordination of CECL and IFRS9 reserve preparation through collaborating with our risk modelling teams, Credit Risk and Business Unit product sector leads, Finance and Accounting including at our European subsidiary bank, as well as review with external auditors. This person will prepare and present Credit Reserve Assessment Committee materials along with associated memos and updates to senior management.

The

Credit Risk Loan Loss Reserve Vice President

  • Coordination among stakeholders to enable the production of the quarterly loan loss reserve
  • Preparation and review of CECL, IFRS9/BFA7, Securities Impairment and AQR files
  • Maintain guidelines, procedures, model documentation and other aspects of reserves control framework
  • Conduct reserve level analytics and associated reports for use by senior management, committee submissions, as well as internal/external assurance functions and regulatory engagement
  • Support or lead departmental risk management and project assignments
  • Provide training/mentoring to junior staff members

Why this role is important to us

The Credit Risk Team within Financial Risk is strategically important to State Street. With a significant, and growing balance sheet, as such it's critical to have strong decisive risk professionals with an ability to communicate with business and finance leaders.

What we value

These skills will help you succeed in this role

  • Build direct relationships with key internal and external parties as necessary in order to enhance credit risk management processes
  • Cooperate and collaborate with other risk functions, business units, internal and external control functions
  • Excellent critical thinking ability and analytical skills and an Excel expert user
  • Strong verbal, written, and presentation skills
  • Self-motivated and able to work independently
  • Excellent time-management capacity
  • Ability to lead and participate in projects

Education & Preferred Qualifications

  • 7+ years of counterparty credit risk management, accounting and finance experience in a leading financial institution, or related experience, with a broad knowledge of lending and structured finance products
  • Ability to recognize broad economic trends, quickly adapt to relevant topics in an evolving market environment, and determine risk implications.
  • Ability to create, improve, and implement enhancements to risk processes
  • Strong multitasking skills, ability to successfully manage a number of work streams to deadlines and standards of quality.
  • Strong communication skills, both written and oral, with the ability to work with all levels of personnel across the organization, including senior executives
  • Strong attention to detail and analytical skills for preparing and/or reviewing reserve related material
  • Ability to work well both independently and in a team environment and collaborate on time sensitive requests
  • Bachelors / Master's degree in finance, business, accounting or related field

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.