Who we are looking for

State Street is seeking an experienced credit risk professional to manage credit risk of a portfolio of Alternative Funds, and to support credit governance and regulatory remediation activities. This credit position will by conducting credit reviews, performing risk ratings, continuous monitoring, and ad-hoc analyses, and focus on credit risk related governance and remediation activities. The Credit Risk Officer will support a number of business areas, including Global Credit Finance, Global Markets, and Global Services/Custody. The position will be a key part of the Enterprise Risk Management (ERM) team, providing a unique opportunity for an analyst to work in a dynamic risk management environment.

This role can be performed in a hybrid model, where you can balance work from home and office to match your needs and role requirements.

Why this role is important to us

The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best. Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What you will be responsible for

As Credit Risk Officer Alternative Funds and Credit Governance you will

• Undertake credit analysis and review on a portfolio of Alternative Funds and Real Money Funds utilizing strategies across multiple lending and trading products (including Revolving Credit Facilities, FX, Repo and Securities Finance business) or State Street’s direct and custody clients.
• Perform annual risk ratings, perform ongoing monitoring and management of the credit quality of the client portfolio, identifying trends and recommending action when necessary. Participate in due diligence calls and review annual renewals of existing counterparties.
• Develop and apply knowledge of risk metrics and characteristics that impact a fund’s relative risk (including strategy, performance, financials, investor base, and historical trends) and utilize in analysis, ratings, and reviews.
• Presenting and defend credit work and findings to credit colleagues, senior management, other internal stakeholders, and risk committees, including regular reporting to SSBI Credit and Market Risk Committee.
• Review and understand limit exceptions reports, investigate causes, propose remediation action, and resolve upon consensus and approval.
• Build knowledge of the content and structuring of legal documentation governing trading businesses.
• Leading credit governance activities in establishing and maintaining procedures, guidelines and working documents, and actively contribute to the definition of Credit Risk Guidelines.
• Propose and implement enhancements to the credit approval and risk management processes with focus on fund business.
• Actively support and contribute to regulatory examinations and auditing tasks related to credit risk, and regulatory remediation activities.
• Assist with monitoring activities covering risk attribution analysis, material risk identification, and mitigation strategies.
• Establish and foster a strong collaborative working relationship with the Front Office Business teams, as well as other internal stakeholders, to ensure effective and efficient communication of all relevant matters, and to promptly identify and resolve risk and control issues.

What we value

These skills will help you succeed in this role

• Critical thinking and analytical skills with the goal of identifying and managing key risks impacting the portfolio, including macroeconomic, market, and counterparty-specific risks.

• Ability to work well both independently and in a team environment, and to collaborate in a global team within a demanding environment of a financial institution.
• Ability to focus on multiple areas concurrently
• Excellent Excel skills and reporting capabilities
• Commitment to quality and high attention to detail
• Strong verbal, written, and presentation skills, particularly important as this position requires that the incumbent presents at a cross functional committee level as well as to our regulators.
• Strong communication and business facing skills

Education & Preferred Qualifications

• Successfully completed Bachelor’s and/or Master’s degree, preferably in Finance, Business and Economics or related field; or equivalent degree supplemented by further qualifications. MBA and/or CFA beneficial but not required.
• Minimum of 7+ years of Credit Risk / Risk Management experience within a global financial institution, with emphasize on European fund / asset management industry, or related experience, with a broad knowledge of credit and capital market products.
• Knowledge of the various fund types and their associated risk profiles essential.
• Knowledge of derivatives, funding, and lending products and related trading and lending documentation is preferrable (i.e., ISDA/CSA, MRA, etc.).
• Profound knowledge of regulatory environment related to Credit Risk (MaRisk, EBA, CRR, Investment Act etc.) and application of such guidance.

Additional requirements

• Fluency in English, other European language skills like German beneficial
• Strong analytical mindset with attention to detail
• Proficiency in use of MS Office applications, familiarity with standard database software (VBA/Python) beneficial

We offer

• Company covered English or German lessons
• Eye Care Benefits
• Holiday allowance: 30 days of annual leave + Birthday day off
• Group Insurance
• Group Pension Scheme
• Lunch allowance
• Discounted public transportation ticket

About State Street

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

Discover more at StateStreet.com/careers

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