Model Risk Management & Validation Policy Analyst (Multiple Openings)

CME Chicago Mercantile Exchange Inc.; Chicago (IL); Hybrid; USD 98,000 - 135,000; Full time

Benefits offered by this job

Health benefits

401(k) + Pension

Education reimbursement

Paid time off

Mental health benefit

Equity program

Job summary

CME Group is seeking a Financial Risk Specialist to support day-to-day model risk management, validation, and policy drafting in a hybrid work setting. You will maintain the model inventory and collaborate with validators and developers on remediation efforts.

The role requires a Master’s in a quantitative field and 2+ years in financial risk; expected salary ranges from $97,739 to $135,100 per year with a strong benefits program.

Qualifications

• Master’s degree required in Financial Math, Financial Engineering, or related quantitative field.
• 2+ years of experience as a Financial Risk Specialist or related occupation.
• Experience with risk management tools and validation techniques.

Responsibilities

• Support day-to-day implementation of model risk management practices and validation processes.
• Draft model risk management policies and procedures.
• Refine and maintain the model inventory and respond to third-party inquiries.

Skills

Model risk management

VaR analysis

Stress testing

Scenario analysis

Data analysis

Education

Master’s degree in Financial Math/Financial Engineering or related quantitative field

Tools

C++

C#

Java

Python

SQL

Job description

Support the day-to-day implementation of the model risk management practices, including the internal and third-party model validation processes and review model changes. Support the drafting of model risk management policies and procedures. Refine and maintain the model inventory. Work with third-party validators to respond to their inquiries and review identified findings for severity and accuracy. Support the review and oversight of model validation responses and related remediation activities by working with model developers and users. Develop knowledge of CME Clearing’s risk models and best practices in model risk management.

Telecommuting permitted on a hybrid schedule as determined by the employer.

MINIMUM REQUIREMENTS

Master’s degree in Financial Math, Financial Engineering, or a related quantitative field and 24 months of experience as a Financial Risk Specialists or related occupation.

Required Experience

Must have two (2) years of experience with/in:

• Programming languages, including at least one of the following: C++, C#, Java, or Python;
• Utilizing model risk management best practices, including building validation tools;
• Knowledge of financial markets and derivatives products, including risk management methods (e.g., VaR scenario analysis);
• Exercising risk management methods (including value-at-risk, stress testing, and scenario analysis);
• Developing database queries and scripts for data analysis.

• Must have one (1) year of experience with/in: Working at a bank, major financial institution, or as a management consultant for the financial services industry.

SALARY: $97,739 - $135,100.00 per Year.

Standard Company Benefits.

CME Group is committed to offering a competitive total rewards package for our employees that recognizes their contributions to the business and reflects our long-term investment in their future.

Actual salary offered will be dependent on a wide array of factors including but not limited to: relevant experience, skills, education and comparison to internal employees (where relevant).

Our compensation program also includes an annual target bonus opportunity for all employees, as well as the opportunity to become an owner in the company through our broad-based equity program.

Through our benefits program, we strive to offer flexibility, value and choice.

• comprehensive health coverage
• a retirement package that includes both a 401(k) and an active pension plan
• highly competitive education reimbursement provisions
• paid time off
• a mental health benefit

CME Group offers a holistic benefits package for our team and their dependents.

CME Group is committed to offering a competitive total rewards package for our employees that recognizes their contributions to the business and reflects our long-term investment in their future.

The pay range for this role is $81,100-$135,100.

Actual salary offered will be dependent on a wide array of factors including but not limited to: relevant experience, skills, education and comparison to internal employees (where relevant).

Our compensation program also includes an annual target bonus opportunity for all employees, as well as the opportunity to become an owner in the company through our broad-based equity program.

Through our benefits program, we strive to offer flexibility, value and choice.

• comprehensive health coverage
• a retirement package that includes both a 401(k) and an active pension plan
• highly competitive education reimbursement provisions
• paid time off
• a mental health benefit

CME Group offers a holistic benefits package for our team and their dependents.

CME Group: Where Futures are Made CME Group is the world’s leading derivatives marketplace. But who we are goes deeper than that. Here, you can impact markets worldwide. Transform industries. And build a career by shaping tomorrow. We invest in your success and you own it – all while working alongside a team of leading experts who inspire you in ways big and small. Problem solvers, difference makers, trailblazers. Those are our people. And we’re looking for more. At CME Group, we embrace our employees' unique experiences and skills to ensure that everyone’s perspectives are acknowledged and valued. As an equal-opportunity employer, we consider all potential employees without regard to any protected characteristic.

Recruitment fraud is on the rise, with scammers using misleading promises of job offers and interviews to solicit money and personal information from job seekers. CME Group adheres to established procedures designed to maintain trust, confidence and security throughout our recruitment process.

For U.S. employment, CME Group is legally required to validate a new hire’s employment eligibility by having them complete an Employment Eligibility Verification (Form I-9) companied with legally acceptable proof of identity and work authorization (as listed on the Form I-9). CME Group uses E-Verify, which is an online system operated by the U.S. Department of Homeland Security in partnership with the Social Security Administration to verify employment eligibility and validate social security numbers. Through participation in the E-Verify program, information entered on Form I-9 will be provided and compared to information available at both of these agencies.

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Additionally, CME Group does not communicate with job applicants over Telegram.