Remote-Eligible Model Risk & Validation Lead

The Options Clearing Corporation; Chicago (IL); Hybrid; USD 111,000 - 156,000; Full time

Benefits offered by this job

Hybrid work environment

Tuition Reimbursement

Student Loan Repayment Assistance

Technology Stipend

Generous PTO and Parental leave

401k Employer Match

Medical, dental and vision benefits

Job summary

The Options Clearing Corporation in Chicago seeks a Model Risk Management professional to analyze model risk across pricing, margin, and liquidity models. You will design benchmark models, backtest, and develop validation documentation while collaborating with CRO teams and other departments.

The role includes performing backtesting with historical data, reviewing model implementations, and supporting new product launches.

Qualifications

• Master’s degree in finance or related field with two years of model risk experience.
• Experience as a model risk management associate or quantitative risk analyst.
• Strong knowledge of risk management and model validation concepts.

Responsibilities

• Analyze model risk across pricing, margin, clearing fund, and liquidity models.
• Design and backtest benchmark models and validation tools.
• Write and review validation documentation and perform backtesting using historical data.
• Communicate model risk analysis to CRO teams and collaborate with other departments.
• Support launch of new products and risk calculations.

Skills

Collateral analysis

Monte Carlo simulations

RStudio

SQuirrel SQL Client

Margin risk analysis

Education

Master’s degree in finance or related field

Tools

RStudio

SQuirrel SQL Client

Job description

The Options Clearing Corporation in Chicago seeks a Model Risk Management professional to analyze model risk across pricing, margin, and liquidity models. You will design benchmark models, backtest, and develop validation documentation while collaborating with CRO teams and other departments.

The role includes performing backtesting with historical data, reviewing model implementations, and supporting new product launches.