Quantitative Risk Associate Director

Are you ready to make an impact at DTCC? Do you want to work on innovative projects, collaborate with a dynamic and supportive team, and receive investment in your professional development? At DTCC, we are at the forefront of innovation in the financial markets.  We’re committed to helping our employees grow and succeed. We believe that you have the skills and drive to make a real impact.  We foster a thriving internal community and are committed to creating a workplace that looks like the world that we serve.  Pay and Benefits:

• Competitive compensation, including base pay and annual incentive
• Comprehensive health and life insurance and well-being benefits, based on location
• Pension / Retirement benefits 
• Paid Time Off and Personal/Family Care, and other leaves of absence when needed to support your physical, financial, and emotional well-being.
• DTCC offers a flexible/hybrid model of 3 days onsite and 2 days remote (onsite Tuesdays, Wednesdays and a third day unique to each team or employee). 
• Can be based out of Boston, MA, Jersey City, NJ, McLean, VA, Dallas, TX or Tampa, FL 

The impact you will have in this role:

The Quantitative Risk Associate Director is a critical member of the model validation team within the Model Risk Management (MRM). Responsibilities range in activities including risk governance and reporting, model inventory, model validation and model performance oversight. Works closely with the model owners and developers to perform hands-on validation and review of our organization’s model inventory in accordance with validation procedures, processes and standards and provides a summarization report that brings together the validation scope, procedures, tests, findings, resolutions, and conclusion before presenting the results directly to the Model Risk Governance Council (“MRGC”) for review, discussion, and approval. 

Your Primary Responsibilities

• Perform hands-on validations and reviews, write quality model validation reports
• Collaborate with the model owners, developers, and users on all facets of validation and issue resolution.
• Formulate model validation and review summary and present findings to the Model Risk Governance Council (“MRGC”) meetings to resolve model approval, model issue tracking and resolution.
• Challenge the model performance and methodologies at monthly MRGC review meeting
• Perform ad hoc analysis to identify model limitations and performance issues and recommend remediations

Qualifications:

• PhD. or master’s degree in quantitative finance, mathematics, economics, financial engineering, or other quantitative fields
• 3-5 years of related experience, ideally in financial risk model validation, risk analytics or quantitative modeling

Talents Needed for Success:

• Familiar with banking, financial institutions, financial instruments, and capital markets
• Broad expertise in quantitative finance on valuation models (curve building methodologies, term structure models, option models, credit models), and risk management models and methodologies (Greeks, VaR, back testing, stress testing)
• Experience and authority knowledge on VaR modeling and VaR model back testing methodologies
• Strong mathematical background, especially in probability theory, stochastic processes, and PDE’s
• Economic modeling and applied statistics skills (i.e., estimation, time series modeling, Monte Carlo simulation techniques, etc.)
• High Level of digital literacy, ability to work efficiently with MATLAB, Excel (VBA), SQL, R, Python or C++
• Excellent written and verbal communication and presentation skills, ability to communicate quantitative concepts to financial professionals
• Knowledge of prepayment modeling, MBS pricing and risks is a plus
• Knowledge and experience on data science and Machine Learning technics/languages is desired
• SEC Covered Clearing Agency Standards

The salary range is indicative for roles at the same level within DTCC across all US locations. Actual salary is determined based on the role, location, individual experience, skills, and other considerations. We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.

The salary range is indicative for roles at the same level within DTCC across all US locations. Actual salary is determined based on the role, location, individual experience, skills, and other considerations. We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.

DTCC safeguards the financial markets and helps them run efficiently, in times of prosperity and crisis. We are uniquely positioned at the center of global trading activity, processing over 100 million financial transactions every day, pioneering industry-wide, post-trade solutions and maintaining multiple data and operating centers worldwide. From where we stand, we can anticipate the industry’s needs and we’re working to continually improve the world’s most resilient, secure and efficient market infrastructure. Our employees are driven to deliver innovative technologies that improve efficiency, lower cost and bring stability and certainty to the post-trade lifecycle.

DTCC proudly supports Flexible Work Arrangements favoring openness and gives people freedom to do their jobs well, by encouraging diverse opinions and emphasizing teamwork.  When you join our team, you’ll have an opportunity to make meaningful contributions at a company that is recognized as a thought leader in both the financial services and technology industries. A DTCC career is more than a good way to earn a living. It’s the chance to make a difference at a company that’s truly one of a kind.

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