Stress Testing Manager

Job Locations: Dallas, TX or Tampa, FL or Jersey City, NJ or McLean, VA

Contract: 2 months- possible extension

Interview Process: 2 rounds- 2nd round in person

Job Summary

FR&Gs mission is to provide effective and efficient identification, measurement, monitoring and control of market, liquidity & Stress Testing related to the clearing and settlement processes for DTCC, its members and the markets. In addition, FR&G provides critical governance and quality assurance capabilities for key risk functions that are designed to meet rigorous organizational and regulatory standards. FR&G works under delegated authority from the Board and senior management to manage these risks within defined risk tolerances, as approved by the Board and senior management. FR&G collaborates closely with Quantitative Risk Management and the Counterparty Credit Risk teams to maintain an integrated and comprehensive approach to financial risk management at DTCC to support an effective second line of defense. FR&Gs prime directive for DTCC's applicable clearing agencies and joint ventures consists of the following:

• Maintain sufficient collateral to cover any losses associated with the liquidation of any defaulting member or family portfolio under extreme but plausible scenarios;

• Ensure that sufficient liquidity resources are available so that each entity is able to settle all transactions as contracted in the event of a failure by the single largest member or family under extreme but plausible circumstances;

• Exercise continuous improvement of policies, procedures and processes that support robust, ongoing member surveillance and effective but appropriate response to distress events; and

• Manage FR&G to maintain a deep and broad product knowledge and risk framework to effectively measure and manage market, liquidity and credit risks.

Liquidity Risk & Stress Testing is responsible for monitoring and managing market and liquidity risk exposures arising from trade execution and settlement activities in the clearing corporations and the depository, including in extreme but plausible market conditions. Responsibilities also include driving new business initiatives, overseeing risk systems design and continuous enhancements, compliance with Risk Management policies and procedures. Understanding of stress testing methodologies, keen understanding of financial markets and client profiles. Ability to identify, analyze, and mitigate potential risks and safeguard financial market in which DTCC plays a pivotal role.

Job Responsibilities

• Proactively identify and evaluate change in member’s liquidity risk exposures, liquidity needs and settlement obligations to escalate and mitigate exposures in timely manner.
• Monitor market conditions and economic trends to anticipate potential risks, potential impact on members’ liquidity obligations, and impact on the stress scenario inventory.
• Provide risk committees with insights on liquidity risk dynamics, potential vulnerabilities, and risk management strategies.
• Lead market risk teams across global offices. Mitigate risk by ensuring adherence of the processes to the policies and procedures, identifying potential model, report errors, and demonstrating strong ethical behavior.
• Develop and improve policies and procedures to enhance existing risk controls and compliance with the regulatory requirements and industry best practices.
• Manage issues arising from internal audits, regulatory exams, and risk assessments, collaborate with stakeholders to develop and implement remediation plans.
• Present key metrics to senior management and regulatory supervisors.
• Oversee, lead and accountable for projects and process enhancements to effectively mitigate emerging risk in support of new and existing products.

Must have:

• Liquidity Risk Management: Expertise in identifying, measuring, and managing liquidity risks, especially under stress scenarios.
• Stress Testing Methodologies: Proficiency in developing and applying stress testing models to assess market and liquidity risks in extreme but plausible situations.
• Financial Markets Expertise: In-depth understanding of financial market operations, including trade execution, settlement processes, and the impact of market dynamics on liquidity.
• Regulatory Knowledge: Strong familiarity with regulatory requirements (e.g., SEC, CFTC) and risk management standards in the financial services industry.
• Quantitative Analysis: Advanced skills in quantitative risk analysis, including working with data models, risk metrics (e.g., VaR, stress scenarios), and risk assessment tools.
• Risk Mitigation Strategies: Experience in developing and implementing strategies to mitigate market, liquidity, and credit risks.
• Policy and Procedure Development: Ability to create, refine, and enforce policies and procedures to ensure compliance with risk controls and regulatory frameworks.
• Leadership in Risk Management: Proven experience leading risk management teams and overseeing projects or process improvements to strengthen risk controls globally.
• Stakeholder Communication: Strong ability to present risk insights, metrics, and reports to senior management, regulatory bodies, and risk committees.
• Problem-Solving and Decision-Making: Ability to rapidly assess complex risk scenarios, develop actionable solutions, and demonstrate strong ethical judgment.