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Associate Principal, Stress Testing

3 months ago

Chicago, Illinois, United States OCC Full time

What You'll Do:
The Associate Principal in the Stress Testing Group performs a broad array of risk management actives to support OCC's stress testing and liquidity risk management functions. They will mainly be responsible for assisting in the creation, execution and reporting of stress tests which will include system implementations/maintenance, large data set analysis, presentation of results and related proposals to management and interfacing externally with clients and regulators, as necessary.
Primary Duties and Responsibilities:
To perform this job successfully, an individual must be able to perform each primary duty satisfactorily.

  • Analyze market and stress test risk exposures for all products and accounts cleared by OCC: Analysis is performed using proprietary OCC tools/applications; Products include equities, government securities, options, futures options, and futures |Assist in the creation, maintenance, execution and reporting of daily stress testing activities which includes coordinate with IT resources to support the systems development needs of the group
  • Ongoing collaboration and discussion with Quantitative Risk Management group on model enhancements and the development of stress tests
  • Develop tools to assist in the preparation of position and financial exposure reporting based on large data set analysis, including the impact of stress test results on OCC's Financial and Liquidity Resources
  • Work collaboratively with other risk management functions within OCC when analyzing and reporting on clearing member stress tests results to assist in the monitoring of counterparty risk
  • Interface with 2nd/3rd line functions and external regulators in support of related inquiries, audits, and examinations of OCC's stress testing processes
  • Support responses to clearing member's inquiries regarding OCC's stress test results including those related to the supporting methodology, policies and procedures
  • Assist in the creation of new or enhancing existing policies and procedures as needed
  • Keep current with market conditions to assess the needs to adjust stress test practices in light of changes in market conditions and/or OCC's business lines
  • Conduct ad-hoc analysis in support of requests from clearing members, regulators, or management
  • Lead discusssions and presentations with clearing members, regulators and senior management

Supervisory Responsibilities:
None
Qualifications:
The requirements listed are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the primary functions.

  • [Required] Knowledge of the financial services industry, including financial, operational and other types of risk
  • [Required] Experience with central counter-party clearing, settlement of derivatives, financial risk management and regulated capital markets infrastructure
  • [Required] Thorough knowledge of financial derivatives with a focus on options and futures
  • [Required] Sound understanding of market/credit/liquidity risk management and corresponding mitigation factors
  • [Required] Understanding of common market risk methodologies such as VaR, SPAN, stress testing, liquidity risk, and concentration risk
  • [Preferred] Experience with developing business requirements, systems implementation/testing, and the analysis of large data sets, preferred
  • [Preferred] Knowledge of SEC and CFTC Rules and Regulations
  • [Required] Ability to interact with all levels of management both internally and externally
  • [Required] Must possess excellent verbal and written communication skills
  • [Required] Self-directed; Ability to work both independently with little direction or oversight and in a team-oriented, collaborative environment to deliver high quality results for high priority and time sensitive projects. Projects often require independent thinking and taking initiative to fully define the problem and recommend solutions
  • [Required] Good organization skills; must be detail oriented
  • [Required] Ability to prepare clear and concise reports in a timely fashion, which document adequacy and/or concerns
  • [Required] Ability to work on multiple projects and assignments at the same time and prioritize appropriately
  • [Required] Ability to adapt in a fast-paced highly dynamic work environment
  • [Required] Breakdown and solve ambiguous and challenging problems without ready made solutions
  • [Required] Willingness to travel, as required

Technical Skills:

  • [Required] Strong PC skills; comfortable with Windows environment. Proficient in Microsoft Word and PowerPoint
  • [Required] Highly proficient in Microsoft Excel, including experience using lookups and pivot tables |[Required] Experience with SQL, Python, R, Matlab, Tableau, Alteryx and/or other data analytics tools
  • [Preferred] Experience with systems implementation, including developing business requirements, testing and familiarity with scheduling tools (e.g. Automic/UC4)

Education and/or Experience:

  • [Required] Bachelor's degree (or equivalent experience) required
    [Preferred] Graduate degree or demonstrable progress towards a graduate degree
    [Required] 7+ years of related work experience in risk management

Certificates or Licenses:

  • [Preferred] Chartered Financial Analyst (CFA Charter), Financial Risk Manager (FRM Certification)

About Us
The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms. More information about OCC is available at
What We Offer
A highly collaborative and supportive environment developed to encourage work-life balance and employee wellness. Some of these components include:
A hybrid work environment, up to 2 days per week of remote work
Tuition Reimbursement to support your continued education
Student Loan Repayment Assistance
Technology Stipend allowing you to use the device of your choice to connect to our network while working remotely
Generous PTO and Parental leave
Competitive health benefits including medical, dental and vision
Step 1
When you find a position you're interested in, click the 'Apply' button. Please complete the application and attach your resume.
Step 2
You will receive an email notification to confirm that we've received your application.
Step 3
If you are called in for an interview, a representative from OCC will contact you to set up a date, time, and location.
For more information about OCC , please click here .
OCC is an Equal Opportunity Employer