Market Risk Manager - Capital Markets & Product Risk Oversight, VP

Senior Market Risk Manager, Capital Markets & Product Risk Oversight

About the Role

State Street's Global Treasury Risk Management (GTRM) team is seeking a senior risk professional to help shape how the firm identifies, measures, governs, and manages market risk across new and existing products, business lines, and strategic initiatives.

GTRM provides independent second-line oversight of market risk, interest rate risk, liquidity risk, and capital risk across the firm's Markets and Treasury activities. As part of Enterprise Risk Management (ERM), the team plays a critical role in ensuring that risk-taking activities remain aligned with the firm's risk appetite, regulatory expectations, and strategic objectives.

This role is uniquely positioned at the intersection of Markets, Treasury, Product Development, and Enterprise Risk. The successful candidate will lead product-level market risk assessments across both the banking book and trading book, helping the firm evaluate new business opportunities, oversee evolving business activities, and strengthen the framework used to govern market risk exposures.

This is an opportunity to influence risk management across a balance sheet exceeding $355 billion in assets, work closely with senior leaders and governance committees, and play a key role in evolving the firm's market risk framework.

Why This Role Matters

State Street continues to expand and evolve its products, services, and market activities. This role is critical to ensuring that both new and existing business activities are supported by robust market risk assessments, appropriate governance processes, effective controls, and sound regulatory compliance.

You will help build and enhance the framework used to evaluate new products, business lines, and meaningful changes to existing activities, while ensuring market risk exposures are appropriately identified, measured, monitored, and managed.

Your work will directly influence senior management decisions and be presented through risk governance forums, working groups, subcommittees, and management committees across the organization.

Additionally, you will be responsible for maintaining and overseeing the inventory of products used across both the banking and trading books, ensuring that market risk treatment remains appropriate and proportionate to State Street’s market risk exposures and materiality.

Key Priorities During Your First Year

Enhance and formalize the framework used to assess and approve new products and business activities.

Create an inventory of products applied in both the trading and the banking books

Develop processes to identify and evaluate material changes to existing products, regions, currencies, and business lines.

Strengthen product-level market risk assessments across both trading and banking book activities.

Improve governance, controls, and risk measurement methodologies supporting evolving business initiatives.

Partner with stakeholders across Treasury, Markets, Finance, Compliance, Legal, and Enterprise Risk Management to drive greater consistency and transparency in market risk oversight.

What You Will Be Responsible For

As a Senior Market Risk Manager, you will serve as a key independent risk partner supporting the firm's evolving product landscape and market activities.

You will:

• Lead independent market risk reviews of new products, business lines, strategic initiatives, and material changes to existing activities, ensuring market risk exposures are appropriately identified, measured, controlled, and governed.
• Serve as a primary second-line risk representative throughout the product and business lifecycle, partnering with stakeholders across Treasury, Markets, Finance, Compliance, Legal, Model Risk Management, and Enterprise Risk.
• Evaluate proposed products, transactions, and business initiatives, providing independent challenge and ensuring alignment with the firm's risk appetite, governance standards, and regulatory expectations.
• Assess market risk exposures embedded within products and business activities across both the banking book and trading book.
• Design, propose and review market risk limits, risk monitoring frameworks, controls, and risk measurement methodologies supporting new and evolving activities.
• Provide independent oversight of trading market risk, interest rate risk, credit spread risk , investment portfolio mark-to-market risk, and other balance-sheet-related market risk exposures.
• Review and challenge first-line assumptions, risk assessments, methodologies, and reporting to ensure an accurate representation of the firm's risk profile.
• Collaborate with Modeling & Analytics teams to enhance risk measurement capabilities, develop new metrics, and strengthen market risk infrastructure.
• Periodically assess State Street’s market risk vulnerabilities in terms of the applied instruments, materiality, and market risk exposure
• Design and propose solutions commensurate to the identified vulnerabilities in both the trading and the banking books
• Support regulatory examinations, internal audits, rating agency reviews, and governance committee presentations through the preparation of analyses, reporting, and risk assessments.
• Contribute to the development of market risk policies, governance standards, methodologies, and best practices that strengthen the firm's overall risk management framework.
• Help drive the design and implementation of enhanced market risk governance processes supporting sustainable business growth and regulatory compliance.
• Key Product Exposure
• This role provides oversight across a broad range of capital markets and treasury-related activities, including:
• Money market instruments , including Repurchase and reverse repurchase agreements
• Fixed income securities
• Asset-backed securities and structured products
• Foreign exchange rate products , including FX derivatives
• Interest rate derivatives and related hedging instruments
• Funding, liquidity management, investment, and hedging activities

What We Value

The ideal candidate combines strong market risk expertise with sound judgment, intellectual curiosity, and the ability to influence decision-making across a complex global financial institution.

We value professionals who:

Possess broad knowledge of financial instruments and understand how market risk emerges across different products, portfolios, and business models.

Can effectively challenge assumptions while building strong relationships and credibility across functions.

Understand both the technical and business implications of market risk decisions.

Are comfortable evaluating new products, emerging business activities, and changing market conditions.

Can communicate complex risk concepts clearly and effectively to senior stakeholders.

Demonstrate strong analytical thinking, sound judgment, and a continuous-improvement mindset.

Thrive in dynamic, highly regulated environments and can successfully manage competing priorities.

Qualifications

• Required Experience
• 6+ years of experience in market risk, treasury risk, asset-liability management (ALM), balance sheet risk, capital markets risk management, or related financial risk disciplines.
• Experience working within a large bank, custodian bank, broker-dealer, or other complex financial institution.
• Strong knowledge of financial instruments including fixed income securities, structured assets, money market instruments, foreign exchange products, and derivatives.
• Experience assessing, overseeing, or managing market risk associated with financial products, portfolios, treasury activities, or business initiatives.
• Familiarity with market risk in the trading book, interest rate risk in the banking book, treasury, or capital markets regulatory frameworks.
• Strong analytical capabilities supported by education in finance, economics, quantitative disciplines, or related fields.
• Excellent verbal and written communication skills, including experience presenting analyses and recommendations to senior stakeholders.
• Preferred Experience
• Experience with product governance, new business initiatives, new product approval processes, or related risk oversight activities a plus
• Experience with market risk, balance sheet risk, interest rate risk, treasury risk, or asset-liability management frameworks.
• Experience with securities financing transactions, equities, or other capital markets products is beneficial but not required.
• Familiarity with U.S. and international regulatory expectations affecting market risk in both the banking book and trading book.
• Knowledge of market risk measurement methodologies, scenario analysis, stress testing, capital planning, and risk limit frameworks.
• Understanding of financial institution balance sheets and the impact of central bank policy changes on market and balance sheet risk exposures.
• Advanced degree in Finance, Economics, Mathematics, Statistics, Engineering, Computer Science, or a related field.
• CFA, FRM, or other relevant professional designation.
• Additional Information
• The successful candidate will have significant visibility across the organization and regularly engage with senior management, risk governance committees, auditors, and regulators. This role offers the opportunity to directly influence how State Street evaluates new opportunities, governs product risk, and strengthens market risk management across both current and future business activities.

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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