Lead Associate Principal, Core Credit

The OCC•Chicago, IL

20d•Hybrid

About The Position

This role will be primarily responsible for safeguarding OCC by ensuring that OCC only admits and transacts with clearing members and other counterparties that are financially and operationally sound, and meet the expectations of OCC’s management, superiors, and Board . Monitors assigned OCC clearing members and bank relationships through identifying, measuring, monitoring, managing, and reporting the various forms of credit risks introduced to OCC by these counterparties. Conduct yourself within the department’s processes and controls and demonstrate understanding of OCC’s Framework for Risk Management and work with senior management in Financial Risk Management to ensure OCC is at the forefront of credit risk management capabilities. This person should continually assess current systems and capabilities supporting CRM processes and recommend to Credit Risk Managers/Directors any enhancements necessary to be at the leading edge of credit risk management. This individual will may lead projects related to those enhancements to ensure successful implementation and conclusion. Awareness of overall financial industry trends, regulatory developments, OCC rules, and overall credit risk management best practices is necessary to lead OCC in the development of credit risk management frameworks, tools, and solutions that both protect OCC from credit losses and provides the industry with greatest benefit. This role may serve as a subject matter expert related to external inquiries of OCC from clearing members, banks and auditors (independent and regulatory). This person ensures they are communicating relevant credit risk information to various senior OCC staff, conducting ad-hoc projects, and presenting analysis to senior OCC staff.. Present and particiaptewith internal Working Groups, direct communications to the Chief Financial Risk Officer, interact with the Management Committee, and regulators as needed. Works under a high demand for independent judgement.

Requirements

Ability to critically assess counterparties, including a deep understanding of the CAMEL(S) rating methodology and other industry accepted credit rating methodologies
Ability to read and understand financial statements, brokerage statements, and accounting records
Strong knowledge of SEC/CFTC regulatory rules and regulations related to credit risk management.
Strong knowledge of the financial services industry, including the financial, market, liquidity and operational risks of broker-dealers, futures commission merchants, commercial banks, pension funds, and financial market utilities
Strong understanding of securities markets, derivatives, and option trading strategies
Familiarity with statistical concepts including VaR, Expected Shortfall, Student-T and Normal Distributions
Participate in OCC efforts for inclusion of new products in OCC’s clearing system, including model or methodology development, membership standards and regulatory approvals
Strong understanding of business collaboration with IT teams in requirements development and user-testing
Must be able to work in a team environment, be responsive to Executive Management
Must possess strong oral and written communication and presentation skills with both business and quantitative departments
Proven leadership abilities
Demonstrated analytical and problem-solving skills and the ability to work in fast-paced collaborative environment
Must be able to work under deadlines and manage multiple tasks
Broad knowledge in mathematical finance, financial econometrics, derivative instruments and risk management
Strong knowledge of spreadsheets, MS Excel preferred
Strong skills for presentations to senior management
Strong knowledge in the creation of presentations, MS PowerPoint preferred
Intermediate Knowledge of data bases, SQL, Python, and data visualization (Tableau or Power BI)
MBA or MS degree in Accounting, Finance, Economics or equivalent discipline
Analytical and problem solving skills
Experience collaborating on a team of experienced individuals and analysts
7+ years of experience in Risk Management
Experience in financial services/ regulated capital markets infrastructure

Nice To Haves

Strong knowledge in asset classes like equities, interest rates, volatility, commodities, and foreign currencies
Knowledge and experience with the processes to onboard and monitor securities lending counterparty
Experience with a broker-dealer, FCM, exchange, regulator, or clearing house
Depth and breadth of experience in a highly regulated industry, like financial services, and an understanding of rules/regulations that govern them.
CFA or FRM certification

Responsibilities

Independently monitor, analyze, and evaluate the ongoing creditworthiness of counterparties and their compliance with OCC rules and other regulatory requirements, including analysis of financial statements to identify levels and trends in key metrics and ratios, awareness of material news and event disclosures, collaborative interaction with counterparties to identify root cause of issues or concerns, and escalation of counterparties requiring enhanced surveillance to department management.
Independently monitor, analyze, and evaluateassessments of clearing members’ and other counterpartys’ financial condition, risk management and operational policies, procedures, processes, staff, and systems to understand how the member is monitoring and mitigating its risk to OCC.
Accountable for creating, analyzing, and evaluating output of CRM’s periodic exams of existing clearing members and other counterparties, escalating identified credit concerns to Management as needed.
May participate on requests for new or expanded clearing member and other counterparty relationships, including recommeendations for protective covenants, where necessary.
Responsible for identifying and escalating to Management when clearing members or other counterparties may require enhanced credit surveillance and/or additional risk mitigation.
Foster and maintain strategic relationships with senior staff of FRM, other departments and external stakeholders, demonstrating a high degree of professional prescence.
Conduct annual reviews of credit risk methodologies and practices, leading the evaluation of potential enhancements, identifying and escalating to Management.
In the course of daily business, identify and escalaterisk management needs and may lead development of new credit risk management systems and overall capabilities
Work closely with senior leaders on projects and cross-department collaboration
Participate in interactions with regulators, exchanges and other external parties, as needed, on formal exams of CRM or ongoing requests for information.
Identify and escalate risk management policies consistent with risk management best practices
Drive business results by continuously demonstrating a strong bias for action through ownership and accountability
Particpate in OCC culture, value, and competency initiatives, including a focus on achieving strong engagement results.
Effectively challenge existing processes on an ongoing basis.
Participate in remediation efforts related to regulatory or internal audit findings and observations.
Ensure remediation addresses root cause, improves OCC’s residual risk, and is completed in a timely manner.
Mentor and train junior staff in Credit Risk practices, processes, and procedures.

Benefits

A highly collaborative and supportive environment developed to encourage work-life balance and employee wellness.
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
401k Employer Match
Competitive health benefits including medical, dental and vision

Stand Out From the Crowd

Upload your resume and get instant feedback on how well it matches this job.

Upload and Match Resume