Job Description

State Street is seeking an Assistant Vice President (AVP) – Quantitative Analyst to join the Centralized Modelling, Analytics & Operations (CMAO) team. This high-impact role focuses on the design and enhancement of risk-measurement models within Enterprise Risk Management (ERM).

Initially, you will focus on the banking book, specifically enhancing models for Interest Rate Risk in the Banking Book (IRRBB) and Credit Spread Risk in the Banking Book (CSRBB). As an AVP, you will operate at the intersection of quantitative finance and regulatory compliance, utilizing QRM (Quantitative Risk Management) software to perform hands-on modeling and sensitivity analysis. This role is a strategic development opportunity, offering eventual exposure to cross-book market risk modeling, including the trading book.

Key Responsibilities

IRRBB & CSRBB Analytics: Lead enhancements to methodologies in QRM, focusing on Economic Value of Equity (EVE) and Net Interest Income (NII) modeling.
Sensitivity & Scenario Analysis: Conduct deep-dive behavioral assumption analysis, scenario impact assessments, and attribution of results.
Model Governance: Author technical documentation detailing model assumptions, methodologies, and limitations for senior management and audit review.
Strategic Partnership: Collaborate with Treasury, Model Risk Management, and Global Markets teams to construction curves and analyze spreads.

Qualifications & Experience

Education: Advanced degree (Master’s or PhD) in a quantitative discipline (Math, Physics, Engineering, or Finance).
Experience: 3–6 years in IRRBB/CSRBB, Asset Liability Management (ALM), or market risk analytics.
Technical Skills: Proficiency in Python or R and direct working experience with QRM software.
Regulatory Knowledge: Solid understanding of global IRRBB/CSRBB regulatory expectations (e.g., EBA/BCBS standards).

Job Data Table

Category	Details
Company Name	State Street Corporation
Location	London, United Kingdom (Hybrid)
Locality	City of London
Country	United Kingdom
City	London
Region	EMEA
Job Type	Full-time
Salaries	Competitive (Est. £85,000 – £115,000 Base)
Experience Level	Assistant Vice President (AVP)
Travel	Minimal (Primarily collaboration with US/EMEA)
Language	English
Benefits	Performance Bonus, Inclusive Development, Flexible Work, Paid Volunteer Days

Skills & Competency Table

Key Skill	Proficiency Level
QRM Software	Expert
Python / R Programming	Advanced
IRRBB / CSRBB Modeling	Expert
EVE & NII Analysis	Expert
Technical Documentation	Advanced
ALM Strategy	Advanced

Salaries Pay Calculator Table

Annual Base Salary	Est. Bonus (15–25%)	Total Compensation	Notes
£85,000	£12,750	£97,750	Mid-market entry for AVP Quants.
£100,000	£20,000	£120,000	Average TC for 4–5 years specialized exp.
£115,000	£28,750	£143,750	Upper tier for niche QRM/IRRBB experts.

Job Summary

This AVP-level role at State Street centers on quantitative modeling for banking book risks (IRRBB/CSRBB). You will utilize QRM and Python to enhance EVE and NII methodologies, author technical documentation, and collaborate globally. It is an ideal path for quants seeking to bridge the gap between banking-book and trading-book risk.

5 FAQs

What is the main software used? The role specifically requires working experience with QRM (Quantitative Risk Management) software.
Is this a US or UK based role? While the position mentions US-based collaboration, this specific posting is for the London, UK office.
What are IRRBB and CSRBB? They refer to Interest Rate Risk and Credit Spread Risk in the Banking Book—measuring how changes in rates/spreads affect a bank’s capital and earnings.
Does State Street offer visa sponsorship? State Street is an equal opportunity employer; specific sponsorship depends on current UK immigration rules and the candidate’s profile.
What is the career growth? AVPs typically progress to Vice President (VP) or Senior VP, specializing in Enterprise Risk or moving into Treasury.

Expert Analysis

In 2026, CSRBB has become a primary focus for regulators like the EBA. This role is highly valuable because it requires a rare blend of QRM technical skills and behavioral modeling (e.g., non-maturity deposits). Quants who can navigate the “cross-book” transition between banking and trading books are currently in the highest demand within systemic banks.

Location & Logistics Guide

State Street’s London offices are typically located in the City of London (near Canary Wharf or the Square Mile). This area is the global heart of banking risk management, offering excellent Elizabeth Line and DLR connectivity. The role involves “regular collaboration” with US teams, implying some flexibility for late-afternoon overlap.

https://en.wikipedia.org/wiki/London

Career Path

An AVP in CMAO is on a direct path to becoming a Risk Model Lead or VP of Treasury Risk. Given the focus on “cross-book” exposure, successful candidates can transition into Market Risk Management for trading desks or move into Strategic ALM, influencing the bank’s high-level balance sheet positioning.

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