21 Associate Principal, Credit Risk Management Jobs in Chicago, IL
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Associate Principal, Credit Risk Management
$95k-123k (estimate)
Full Time | Wholesale
7 Days Ago
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Options Clearing Corporation is Hiring an Associate Principal, Credit Risk Management Near Chicago, IL
Summary
As a member of OCC’s Credit Risk Management team you will help safeguard OCC from counterparties who exhibit elevated credit or operational risk or lack appropriate risk management programs. Associate Principals are responsible for identifying, measuring, monitoring, managing, and reporting various risks and exposures introduced to OCC by clearing members, banks, and other critical counterparties. Associate Principals have a strong understanding of the risks present within the clearing industry and/or the participating financial entities, including broker-dealers, futures commission merchants, commercial banks, pension funds, and financial market utilities. Associate Principals mentor and train (Sr.) Associates and build and manage overall risk profiles of counterparties through several direct and ancillary processes.
Responsibilities
- Monitor ongoing creditworthiness of counterparties and their compliance with OCC rules and other regulatory requirements, material news and event disclosures, interact with counterparties to identify root cause of issues or concerns, and escalate issues requiring enhanced surveillance to department management and internal working groups so appropriate actions can be taken
- Independently analyze financial statements to identify levels and trends in key metrics and ratios
- Perform, lead, or manage (as appropriate) documented assessments on clearing member’s risk management policies, procedures, processes, staff, and systems to understand how the member is mitigating its risk to OCC
- Manage the applications of new counterparties and document results for presentation to senior management and Board Risk Committee for approval
- Work closely with department management on projects, cross-department collaboration, and mentoring of colleagues
- As appropriate, lead high priority department projects with minimal oversight by department management
- Act as a department expert for other Financial Risk Management teams and counterparty-facing departments when assessing all risks posed by counterparties and collaborating on cross-departmental initiatives
- Support critical, time-sensitive, and/or complex counterparty inquiries regarding OCC risk policies and procedures as well as time-sensitive, complex questions regarding margin requirements and position movements
- Support system, data, and risk methodology development, review data and risk methodologies during annual reviews, identify underlying methodology assumptions with a comprehensive set of special cases, guide methodologies through full lifecycle events, and evaluate different possible approaches/enhancements
- Develop and conduct advanced data analytics and reporting to identify and analyze causal links and meaningful relationships (e.g., correlations, distributions, percentiles) across large and/or multi-sourced data sets, determine best methods and visuals to communicate analytical insights, and deliver compelling and easy to understand narratives of those insights to support executive decision making
- Develop, maintain, enhance, and adhere to written policies and procedures
- Participate in or lead procedure-related control testing activities and identify opportunities for improving the control environment
- Supervise and confirm adherence to regulatory reporting obligations
- Work with internal and external stakeholders to support audits/exams
Supervisory Responsibilities
- None
Qualifications
- [Required] Demonstrated analytical and problem-solving skills and the ability to work in a collaborative environment
- [Required] Ability to read and understand financial statements, brokerage statements, and accounting records
- [Required] Proficient knowledge of regulatory rules and regulations related to the SEC/CFTC
- [Required] Proficient 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
- [Required] Proficient understanding of securities markets, derivatives, and option trading strategies
- [Required] Track record of independently managing and successfully completing high visibility projects
- [Required] Excellent organization skills – must be detail oriented
- [Required] Strong verbal and written communication skills, with proven ability to work and converse with executive level management
- [Required] Comfortable working in a customer service-oriented environment and addressing questions from both OCC colleagues and OCC counterparties, engaging users to understand issues and identify root causes, escalating incidents to appropriate teams, collaborating with others to ensure timely resolution and user satisfaction, and monitoring service performance of (Sr.) Associates
- [Required] Ability to work well under pressure with multiple priorities and time-sensitive deadlines
- [Preferred] Track record of accomplishments while leading a team, delegating and prioritizing work assignments, and ensuring team efficiency
- [Preferred] Experience supporting department efforts in internal audits or regulatory exams, including responses and remediation action plans
- [Preferred] Ability to perform counterparty credit analysis including a basic understanding of the CAMEL(S) rating methodology and other rating systems
Technical Skills
- Proficient in Microsoft Office, including Excel experience using lookups and pivot tables to perform data analysis, and comfortable developing PowerPoint presentations
- Proficient in SQL, including the ability to write and edit queries to assist with mining and visualizing data from multiple sources.
- Experience using data visualization software (e.g., Tableau, Power BI)
- Coding experience with (e.g., Python, R, VBA macros) preferred
- Intermediate-to-Advanced quantitative, analytical, problem solving skills, including the ability to accumulate, organize, and assimilate large amounts of information.
- Experience using Bloomberg and/or S&P Global Market Intelligence, and the technical ability to connect these tools to Excel preferred
Education and/or Experience
- [Required] Bachelor’s degree (preferably in Risk Management, Accounting, (Computational/Quantitative) Finance, or Economics) or equivalent work experience
- [Required] 4 years of experience in counterparty credit risk or relevant financial services industry knowledge
- [Preferred] Master’s degree or progress towards a Master’s degree (preferably in Risk Management, Accounting, (Computational/Quantitative) Finance, or Economics)
Certificates or Licenses
- Desire to earn, or progress towards, a CFA or 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 www.theocc.com.
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.
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.
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.
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
Job Summary
JOB TYPE
Full Time
INDUSTRY
Wholesale
SALARY
$95k-123k (estimate)
POST DATE
06/19/2024
EXPIRATION DATE
06/20/2024
WEBSITE
theocc.com
HEADQUARTERS
CHICAGO, IL
SIZE
1,000 - 3,000
FOUNDED
1973
TYPE
Private
CEO
JAMES S METCALF
REVENUE
$500M - $1B
INDUSTRY
Wholesale
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About Options Clearing Corporation
OCC provides central counterparty clearing and settlement services to exchanges and trading platforms.
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