Counterparty Credit Risk Managing Director

Are you ready to make an impact at DTCC? 

Do you want to work on innovative projects, collaborate with a dynamic and supportive team, and receive investment in your professional development? At DTCC, we are at the forefront of innovation in the financial markets. We are committed to helping our employees grow and succeed. We believe that you have the skills and drive to make a real impact. We foster a thriving internal community and are committed to creating a workplace that looks like the world that we serve. 

Our Risk Management teams work to protect the safety and soundness of our systems and are responsible for identifying, managing, measuring and mitigating a spectrum of key risk types including credit, market, liquidity, systemic, operational and technology in all existing and new products, activities, processes and systems.

• Competitive compensation, including base pay and annual incentive
• Comprehensive health and life insurance and well-being benefits, based on location
• Pension / Retirement benefits
• Paid Time Off and Personal/Family Care, and other leaves of absence when needed to support your physical, financial, and emotional well-being.
• DTCC offers a flexible/hybrid model of 3 days onsite and 2 days remote (onsite Tuesdays, Wednesdays and a third day unique to each team or employee). 

The Impact you will have in this role: 
 

Counterparty Credit Risk is primarily responsible for assessing the financial stability of DTCC's member firms by interpreting financial documents of banks, broker-dealers, and other financial firms The Counterparty Credit Risk team is primarily responsible for assessing the financial stability of DTCC's member firms by interpreting financial documents of banks, broker-dealers, and other financial firms. The team is responsible for a portfolio of member firms and is required to perform annual reviews and ongoing surveillance, as well as review new member applications. The team is also tasked with maintenance of the credit risk rating matrix and assessing compliance with established financial parameters and keeping current on new accounting and regulatory pronouncements that impact member firms. 

Your Primary Responsibilities:  

• Oversee the CCR team in its mandate to analyze, identify, and mitigate the credit risk of member firms and other counterparties.
• Accountable for final review of annual credit reviews and ongoing surveillance of member firms, including identifying when firms may need to be subjected to additional surveillance or mitigants.
• Creates strategies and tools that incorporate industry standard processes.
• Anticipate industry and regulatory trends in order to define how the department builds value and shapes the industry.
• Serve as executive sponsor responsible for oversight and budgeting of multiple complex credit risk projects, including credit monitoring tools, automation, and other risk-related initiatives.
• Cultivate and maintain strategic relationships with senior staff in internal departments senior management, and external partners such as regulators in order to negotiate improvements and strategic change.
• Oversee and challenge the analysis of new member full-service applications to assess applicants’ financial condition, their ability to meet DTCC member requirements, and key risk concerns and mitigants.
• Apply in-depth knowledge of DTCC's business, CCR's processes and subject matter expertise, and the risk environment to guide the strategic direction of the CCR team.
• Establish strategic and tactical goals for the CCR team and DTCC more broadly that emphasize the importance of key values, including adherence to risk-related policies, regulatory awareness, and promoting a risk management mentality.
• Monitor budgets, short and long-term department staffing needs, and staff development needs.
• Demonstrate a compelling presence across the firm to represent the CCR team and support CCR and DTCC critical initiatives.
• Serve as primary point of contact for all internal Audit and regulatory exams.
• Demonstrate a general understanding of market and liquidity risk across DTCC.
• Champions a risk management culture through implementation and demonstration of processes and procedures which identify and mitigate risk

Qualifications:

• Minimum of 15 years of related experience
• Bachelor's degree preferred with Masters or equivalent experience

Talents Needed for Success:

• Prior experience working for a systemically important institution with a proven understanding of the securities market and clearing sector.
• Continuously seeks and maintains strong, open relationships, internally and externally, to harness multiple perspectives.
• Partner with senior management and other division leaders to establish key objectives and priorities for the firm.
• Set strategic direction and drive critical initiatives for divisions and the firm.
• Identify and sets short and long-term staffing strategy for the risk divisions. 

The salary range is indicative for roles at the same level within DTCC across all US locations. Actual salary is determined based on the role, location, individual experience, skills, and other considerations. We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.