Senior Associate, Market Risk & Default Management

OCC • Chicago, IL

4d • $89,274 - $101,800 • Hybrid

About The Position

Duties: Analyze market risk exposures for all products and accounts cleared by the OCC including equities, futures, index and equity options, options on futures and government securities. Monitor clearing members’ trading positions and collateral for sensitivities to various risk factors using the OCC’s market risk methodologies including Monte Carlo and Stress Testing. Assist the Market Risk Team with proposing, developing and specifying requirements for a best-in-class intraday market risk system along with a suite of proprietary technological tools. Monitor current financial market conditions including corporate earnings and key economic announcements to assess the potential impact on the OCC’s Clearing Member portfolios. Work collaboratively with other functions at the OCC including the Quantitative Risk Management team and various IT teams. Develop tools and reports using large data sets to assist in the preparation of position and financial risk analysis and reporting. Analyze complex market risk exposures across multiple asset classes using quantitative methodologies such as Monte Carlo simulations and stress testing scenarios to identify financial risks and to ensure adequate risk coverage during market volatility. Evaluate and assess advanced market risk monitoring systems and specialized risk reporting tools using Python, SQL, R, database technologies, and large financial datasets to assess clearing member positions and portfolio sensitivities. Analyze clearing member positions, macro/microeconomic developments, and market volatility using options pricing theory (Black-Scholes options pricing model, “the Greeks” risk measures, option contract components such as underlying asset price, strike price, volatility, interest rate, and time to expiration), Value at Risk (VaR), and Expected Shortfall (ES) risk measures to appropriately manage financial risk and obtain sufficient margin that is commensurate of the risk posed. Evaluate market risk methodologies, policies, procedures, and controls to align with covered clearing agency regulatory requirements (i.e. SEC, CFTC, Federal Reserve Board of Governors); engage in cross-functional initiatives with teams from three lines of defense to incorporate industry best practices for central counterparty risk management. Support responses to clearing member’s inquiries regarding the OCC’s various market risk methodologies and the related policies and procedures. Assist in the creation of new or enhancing existing policies and procedures as needed for regulatory inquiries, audits and examinations. Conduct miscellaneous studies and analysis for senior management. Up to 40% telecommuting permitted. OCC offers a standard benefits package. Education & Experience Required: Master’s degree in finance, economics, business administration, or related and two (2) years of experience as an Associate (Internal Audit, Financial Risk & Modeling), financial risk management analyst, or related Special Skills Required: Must have work experience with each of the following: 1) Analyze complex market risk exposures across multiple asset classes using quantitative methodologies such as Monte Carlo simulations and stress testing scenarios to identify financial risks and to ensure adequate risk coverage during market volatility; 2) Evaluate and assess advanced market risk monitoring systems and specialized risk reporting tools using Python, SQL, R, database technologies, and large financial datasets to assess clearing member positions and portfolio sensitivities; 3) Analyze clearing member positions, macro/microeconomic developments, and market volatility using options pricing theory (Black-Scholes options pricing model, “the Greeks” risk measures, option contract components such as underlying asset price, strike price, volatility, interest rate, and time to expiration), Value at Risk (VaR), and Expected Shortfall (ES) risk measures to appropriately manage financial risk and obtain sufficient margin that is commensurate of the risk posed; and 4) Evaluate market risk methodologies, policies, procedures, and controls to align with covered clearing agency regulatory requirements (i.e. SEC, CFTC, Federal Reserve Board of Governors); engage in cross-functional initiatives with teams from three lines of defense to incorporate industry best practices for central counterparty risk management. Up to 40% telecommuting permitted. Salary $89,274-$101,800 Apply: OCC offers a standard benefits package. See a full list of benefits here: https://www.theocc.com/careers/thriving-together. Apply online at www.theocc.com. No calls. EOE. 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 www.theocc.com. Benefits 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 401k Employer Match Competitive health benefits including medical, dental and vision Visit https://www.theocc.com/careers/thriving-together for more information. Compensation The salary range listed for any given position is exclusive of fringe benefits and potential bonuses. If hired at OCC, your final base salary compensation will be determined by factors such as skills, experience and/or education. In addition, we believe in the importance of pay equity and consider internal equity of our current team members as part of any final offer. We typically do not hire at the maximum of the range in order to allow for future and continued salary growth. We also offer a substantial benefits package as noted on www.theocc.com/careers All employees may be eligible for a discretionary bonus. Discretionary bonuses are based on various factors, including, but not limited to, company and individual performance and are not guaranteed. 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 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 OCC is an Equal Opportunity Employer OCC is an equal opportunity employer that is committed to diversity, equity, and inclusion. OCC provides equal employment opportunities to all employees and applicants for employment without regard to race, color, national origin, citizenship status, sex, sexual orientation, gender identity or expression, disability, age, marital status, religion, veteran status, or any other characteristics protected by applicable federal, state, or local laws. Numerous studies have shown that people from certain groups are less likely than others to apply to jobs if they believe they do not meet 100% of the requirements. We encourage everyone to review our open positions and apply if you think your experience may be a match, even if you do not meet all of the qualifications. Your perspective may be an element we need to continue building innovative solutions to support the markets and market participants we serve. If you need a disability related accommodation for any part of the application process, please email [email protected]. 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 www.theocc.com. 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 401k Employer Match Competitive health benefits including medical, dental and vision Visit https://www.theocc.com/careers/thriving-together for more information. The salary range listed for any given position is exclusive of fringe benefits and potential bonuses. If hired at OCC, your final base salary compensation will be determined by factors such as skills, experience and/or education. In addition, we believe in the importance of pay equity and consider internal equity of our current team members as part of any final offer. We typically do not hire at the maximum of the range in order to allow for future and continued salary growth. We also offer a substantial benefits package as noted on www.theocc.com/careers All employees may be eligible for a discretionary bonus. Discretionary bonuses are based on various factors, including, but not limited to, company and individual performance and are not guaranteed.

Requirements

• Master’s degree in finance, economics, business administration, or related and two (2) years of experience as an Associate (Internal Audit, Financial Risk & Modeling), financial risk management analyst, or related
• Must have work experience with each of the following: 1) Analyze complex market risk exposures across multiple asset classes using quantitative methodologies such as Monte Carlo simulations and stress testing scenarios to identify financial risks and to ensure adequate risk coverage during market volatility; 2) Evaluate and assess advanced market risk monitoring systems and specialized risk reporting tools using Python, SQL, R, database technologies, and large financial datasets to assess clearing member positions and portfolio sensitivities; 3) Analyze clearing member positions, macro/microeconomic developments, and market volatility using options pricing theory (Black-Scholes options pricing model, “the Greeks” risk measures, option contract components such as underlying asset price, strike price, volatility, interest rate, and time to expiration), Value at Risk (VaR), and Expected Shortfall (ES) risk measures to appropriately manage financial risk and obtain sufficient margin that is commensurate of the risk posed; and 4) Evaluate market risk methodologies, policies, procedures, and controls to align with covered clearing agency regulatory requirements (i.e. SEC, CFTC, Federal Reserve Board of Governors); engage in cross-functional initiatives with teams from three lines of defense to incorporate industry best practices for central counterparty risk management.

Responsibilities

• Analyze market risk exposures for all products and accounts cleared by the OCC including equities, futures, index and equity options, options on futures and government securities.
• Monitor clearing members’ trading positions and collateral for sensitivities to various risk factors using the OCC’s market risk methodologies including Monte Carlo and Stress Testing.
• Assist the Market Risk Team with proposing, developing and specifying requirements for a best-in-class intraday market risk system along with a suite of proprietary technological tools.
• Monitor current financial market conditions including corporate earnings and key economic announcements to assess the potential impact on the OCC’s Clearing Member portfolios.
• Work collaboratively with other functions at the OCC including the Quantitative Risk Management team and various IT teams.
• Develop tools and reports using large data sets to assist in the preparation of position and financial risk analysis and reporting.
• Analyze complex market risk exposures across multiple asset classes using quantitative methodologies such as Monte Carlo simulations and stress testing scenarios to identify financial risks and to ensure adequate risk coverage during market volatility.
• Evaluate and assess advanced market risk monitoring systems and specialized risk reporting tools using Python, SQL, R, database technologies, and large financial datasets to assess clearing member positions and portfolio sensitivities.
• Analyze clearing member positions, macro/microeconomic developments, and market volatility using options pricing theory (Black-Scholes options pricing model, “the Greeks” risk measures, option contract components such as underlying asset price, strike price, volatility, interest rate, and time to expiration), Value at Risk (VaR), and Expected Shortfall (ES) risk measures to appropriately manage financial risk and obtain sufficient margin that is commensurate of the risk posed.
• Evaluate market risk methodologies, policies, procedures, and controls to align with covered clearing agency regulatory requirements (i.e. SEC, CFTC, Federal Reserve Board of Governors); engage in cross-functional initiatives with teams from three lines of defense to incorporate industry best practices for central counterparty risk management.
• Support responses to clearing member’s inquiries regarding the OCC’s various market risk methodologies and the related policies and procedures.
• Assist in the creation of new or enhancing existing policies and procedures as needed for regulatory inquiries, audits and examinations.
• Conduct miscellaneous studies and analysis for senior management.

Benefits

• 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

What This Job Offers

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