Quantitative Risk Senior Associate

Are you ready to explore a world of possibilities?

Join our DTCC family, and you’ll grow your expertise and become the best version of you. As you embark on a new journey, you’ll be supported and surrounded by other professionals as you learn new skills, advance your career, and see the impact of your efforts every day.

Pay and Benefits:

• Competitive compensation, including base pay and generous annual incentive target
• Comprehensive health and life insurance and well-being benefits effective day-one - no waiting period means no out-of-pocket expense for COBRA
• Retirement benefits - 401K & DTCC funded pension plan
• Paid Time Off and other leave of absence – Accrue 25 days of PTO per year + 10 paid holidays
• Flexible/Hybrid Work Arrangements – We collaborate in the office on Tuesday & Wednesday

Why you'll love this job :

As a Senior Associate in the Operations Management & Assurance (“OM&A”) team, you will join DTCC’s Model Risk Management (“MRM”), which is responsible for quality control, model governance, independent model validation, and model performance monitoring (“MPM”).

You will work closely with various teams to perform quality control testing on validation reports, new model documents, and Inventory to ensure compliance with internal and external requirements

This is a high-profile position, and you will have frequent interactions with multiple internal and external stakeholders, including model owners and developers, Product Risk, IT, Management, Clients, EUCA management, Internal Audit, and DTCC Regulators. You will achieve a comprehensive understanding of DTCC’s businesses and be able to apply industry best practices to DTCC’s business context

This position will be based in Boston, Jersey City, or Dallas.

Your primary responsibilities

• Perform quality control review of the following:
  • Validation and annual review reports to ensure the compliance with internal and external requirements
  • Model documentation for new models to ensure that it meets the requirements set forth in the Model Development Standards
  • Model inventory information that is shared with the regulators
• Maintain, perform, and analyze monthly and quarterly risk reports to support Senior Risk Councils
• Interface with auditors and regulators as needed and provide requested materials expeditiously
• Complete special projects to be determined by the OM&A Director and MRM’s Senior Leadership Team

**NOTE: The Primary Responsibilities of this role are not limited to the details above. **

Talents Needed for Success:

• Minimum of 5 years working experience, ideally in the financial industry ** Prior experience with quantitative modeling is not required, but should have a working knowledge of quantitative modeling, model validation, financial markets and products, risk metrics/analytics
• A master’s degree in business, quantitative finance, economics, or other related fields
• Familiar with banking, financial institutions, financial instruments, and market principles
• High level of computer literacy, ability to work effectively with Excel(VBA), Excel Power Tools, SQL ,R, or Python
• Excellent written and oral communication and presentation skills, ability to communicate quantitative concepts to financial professionals
• Possess excellent interpersonal skills and can work in an efficient and organized way.
• Ability to work independently and under pressure, and to think outside the box
• Deep understanding of the regulatory environment surrounding model risk management (SR11-7 and SEC Covered Clearing Agency Standards)

Prior experience in quality assurance/ quality control, internal audit and/ or enterprise risk management roles