Model Risk Management & Validation Policy Analyst (Multiple Openings)

CME Group • Chicago, IL

2d • $81,100 - $135,100 • Hybrid

About The Position

Support the day-to-day implementation of model risk management practices, including internal and third-party model validation processes and review of model changes. Support the drafting of model risk management policies and procedures, and refine and maintain the model inventory. Work with third-party validators to respond to inquiries and review identified findings for severity and accuracy. Support oversight of model validation responses and related remediation activities by working with model developers and users. Develop knowledge of CME Clearing’s risk models and best practices in model risk management. Telecommuting is permitted on a hybrid schedule as determined by the employer.

Requirements

• Master’s degree in Financial Math, Financial Engineering, or a related quantitative field.
• At least 24 months of experience as a Financial Risk Specialist or in a related occupation.
• Two years of experience with programming languages, including at least one of C++, C#, Java, or Python.
• Two years of experience utilizing model risk management best practices, including building validation tools.
• Two years of experience with financial markets and derivatives products, including risk management methods such as VaR scenario analysis.
• Two years of experience applying risk management methods, including value-at-risk, stress testing, and scenario analysis.
• Two years of experience developing database queries and scripts for data analysis.
• One year of experience working at a bank or major financial institution, or as a management consultant for the financial services industry.

Responsibilities

• Support implementation of model risk management practices, including internal and third-party model validation processes and review of model changes.
• Support drafting model risk management policies and procedures.
• Refine and maintain the model inventory.
• Respond to third-party validators’ inquiries and review identified findings for severity and accuracy.
• Support oversight of model validation responses and related remediation activities by working with model developers and users.
• Develop knowledge of CME Clearing’s risk models and model risk management best practices.

Benefits

• Standard company benefits, including comprehensive health coverage, a retirement package with a 401(k) and active pension plan, education reimbursement, paid time off, and a mental health benefit.
• Annual target bonus opportunity.
• Opportunity to become an owner through the company’s broad-based equity program.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level