Principal, Stress Testing & Liquidity Risk Management

NBMBAA; Dallas (TX); Hybrid; USD 188,000 - 260,000; Full time

Benefits offered by this job

Hybrid work environment

Tuition Reimbursement

Student Loan Repayment Assistance

Technology stipend

Parental leave

401k Employer Match

Health benefits

Job summary

The Options Clearing Corporation (OCC) is seeking a Principal in the Stress Testing Group in Dallas to lead risk management efforts and mentor junior staff. You will support IT in building a new stress testing system and enhance current capabilities, while aiding regulatory filings and reporting to senior management.

You will collaborate with product teams, risk management, and regulators to translate complex risk concepts into actionable insights.

Qualifications

• Thorough understanding of financial derivatives, specifically options and futures.
• Experience with central counter-party clearing, settlement of derivatives, financial risk management and regulated capital markets infrastructure.
• Understanding of market/credit/liquidity risk management and corresponding mitigation factors.
• Knowledge of SEC and CFTC Rules and Regulations.
• Ability to interact with all levels of management both internally and externally.
• Must possess excellent verbal and written communication skills.
• Self-directed; ability to work independently or in a team
• Good organization skills; detail oriented and deadlines
• Ability to prepare clear and concise reports in a timely fashion
• Willingness to travel

Responsibilities

• Analyze market and stress test risk exposures for OCC products and accounts.
• Develop business requirements for stress testing functionality.
• Collaborate with Quant Risk Management on model enhancements.
• Develop tools for position and exposure reporting from large data sets.
• Report stress test results to monitor counterparty risk.
• Interface with regulators and auditors on inquiries and examinations.
• Mentor junior staff on the team.

Skills

Derivatives risk knowledge

Regulatory communication

SQL

Python

Risk management

Mentoring

Project management

Data analysis

Travel willingness

Education

Bachelor's degree

Graduate degree preferred

Tools

SQL

Python

R

Matlab

Tableau

Alteryx

Jira

Job description

*****THIS POSITION IS NOT ELIGIBLE FOR VISA SPONSORSHIP*****

What You'll Do:

The Principal in the Stress Testing Group performs a broad array of risk management activities to support OCC’s stress testing and liquidity risk management functions. They will serve as a mentor for more junior staff on the team. This role will support IT in the development of a new stress testing system while also maintaining and enhancing the current implementation. They will assist in regulatory exam-related activities and supporting the regulatory filing process. They will drive improvement of analytical capabilities within the team and produce clear and concise reporting for management. They will also have direct interaction with OCC senior management, Clearing Members, regulators and other stakeholders.

Primary Duties and Responsibilities:

To perform this job successfully, an individual must be able to perform each primary duty satisfactorily.

• Analyze market and stress test risk exposures for all products and accounts cleared by OCC: Analysis is performed using proprietary OCC tools/applications; Products include equities, government securities, options, futures options, and futures


• Work directly with and support product teams in the development of business requirements in support of developing new or enhancing existing functionality of stress testing and risk system capabilities


• Work collaboratively with Quantitative Risk Management group on model enhancements and the development of stress tests


• Develop tools to assist in the preparation of position and financial exposure reporting based on large data set analysis, including the impact of stress test results on OCC’s Financial and Liquidity Resources


• Work jointly with other risk management functions within OCC when analyzing and reporting on clearing member stress tests results to assist in the monitoring of counterparty risk


• Interface with 2nd/3rd line functions and external regulators in support of related inquiries, audits, and examinations of OCC’s stress testing processes


• Ability to breakdown complex topics and explain to a wide range of audiences with various backgrounds


• Support responses to clearing member’s inquiries regarding OCC’s stress test results including those related to the supporting methodology, policies and procedures


• Assist in the creation of new or enhancing existing policies and procedures as needed


• Keep current with market conditions to assess the needs to adjust stress test practices in light of changes in market conditions and/or OCC’s business lines


• Conduct miscellaneous studies and analysis for senior management


• Ability to work on multiple high profile projects simultaneously


• Serve as a mentor to develop the skills and knowledge of junior staff on the team

Supervisory Responsibilities:

• Indirectly supervise project team members from across FRM and internal technology teams

Qualifications:

The requirements listed are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the primary functions.

• [Required] Thorough understanding of financial derivatives, specifically options and futures


• [Required] Experience with central counter-party clearing, settlement of derivatives, financial risk management and regulated capital markets infrastructure


• [Required] Sound understanding of market/credit/liquidity risk management and corresponding mitigation factors


• [Required] Understanding of common market risk methodologies such as VaR, SPAN, stress testing, liquidity risk, and concentration risk, preferred


• [Required] Experience with developing business requirements, systems implementation/testing


• [Required] Demonstrated proficiency in performing analysis on large and complex data


• [Required] Knowledge of SEC and CFTC Rules and Regulations


• [Required] Ability to interact with all levels of management both internally and externally


• [Required] Must possess excellent verbal and written communication skills


• [Required] Self-directed; Ability to work both independently with little direction or oversight and in a team-oriented, collaborative environment to deliver high quality results for high priority and time sensitive projects. Projects often require independent thinking and taking initiative to fully define the problem and recommend solutions


• [Required] Good organization skills; must be detail oriented and manage deadlines


• [Required] Ability to prepare clear and concise reports in a timely fashion, which document adequacy and/or concerns


• [Required] Ability to work on multiple projects and assignments at the same time and prioritize appropriately


• [Required] Ability to adapt in a fast-paced highly dynamic work environment


• [Required] Willingness to travel, as required

Technical Skills:

• [Required] Strong PC skills; comfortable with Windows environment. Proficient in Microsoft Word and PowerPoint


• [Required] Highly proficient in Microsoft Excel, including experience using lookups and pivot tables


• [Required] Experience with SQL, Python, R, Matlab, Tableau, Alteryx and/or other data analytics tools


• [Required] Experience with Jira operating in an Agile development environment


• [Required] Experience with AI tools such as Claude Chat in order to perform data analysis and improve efficiency through automation

Education and/or Experience:

• [Required] Bachelor's degree (or equivalent experience) required


• [Preferred] Graduate degree or demonstrable progress towards a graduate degree


• [Required] 10+ years of work experience in risk management, experience with an exchange, regulator, clearing house, or trading firm preferred

Certificates or Licenses:

• [Preferred] Chartered Financial Analyst (CFA Charter), Financial Risk Manager (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 23 exchanges and trading platforms. More information about OCC is available at www.theocc.com.

Benefits

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


• 401k Employer Match


• Competitive health benefits including medical, dental and vision

Visit https://www.theocc.com/careers/thriving-together for more information.

Compensation

• The salary range listed for any given position is exclusive of fringe benefits and potential bonuses. If hired at OCC, your final base salary compensation will be determined by factors such as skills, experience and/or education.


• In addition, we believe in the importance of pay equity and consider internal equity of our current team members as part of any final offer.


• We typically do not hire at the maximum of the range in order to allow for future and continued salary growth. We also offer a substantial benefits package as noted on www.theocc.com/careers


• All employees may be eligible for a discretionary bonus. Discretionary bonuses are based on various factors, including, but not limited to, company and individual performance and are not guaranteed.

Salary Range

$188,000.00 - $259,800.00

Incentive Range

23% to 30%

This position is eligible for an annual discretionary incentive compensation award, for which the target range is listed above (see Incentive Range). The amount of such award, if any, will be based on various factors, including without limitation, both individual and company performance.

OCC is an Equal Opportunity Employer