Associate Principal, Market Risk & Default Management

Who We Are

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 19 exchanges and trading platforms. More information about OCC is available at www.theocc.com.

What We Offer

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 3 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

Competitive health benefits including medical, dental and vision

What You'll Do

This role will ensure department policies, procedures, and controls are followed and updated as needed to perform monitoring activities within MRDM, and are performed on a timely basis. Will assist in mentoring junior staff and peers.

Primary Duties and Responsibilities:

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

Responsibilities

• Analyze market risk exposures for all products and accounts cleared by OCC, or part of an OCC supported process (i.e. cross-margin). Analysis is performed using proprietary OCC tools/applications. Products include equities, government securities, options, futures options, and futures
• Monitor potential risks and portfolios with exposure to major events such as Earnings announcements, or key Economic announcements
• Provide support and analysis as it relates to margin calls, extended trading hours monitoring, and policy/procedure writing
• Monitor clearing member trading positions, and price risk, and create trend analysis, margin call analysis, and other requested dashboard reports to senior management
• Maintain relationships with external liquidation agents, default management committees, auction participants, and other clearinghouses
• Prepare reports regarding position and financial exposures
• Analyze portfolios for sensitivity to risk factors and identify hedging strategies
• Assist in liquidation of portfolios during a Clearing Member default and subsequent reporting
• Provide administrative support for OCC’s auction program
• Coordinate and assist in executing periodic default management exercises
• Support clearing member’s inquiries regarding OCC’s default management policies and procedures
• Assist in documenting new or enhancing existing policies and procedures as needed
• Serving as a resource to counterparts and other OCC departments with problem resolution and departmental policy, procedure, and process explanation
• Interacting with internal and external auditors, compliance professionals and regulators during exams, audits and reviews
• Represent Financial Risk Management on corporate projects and new system development
• Assist in writing memos for Risk Committee and Board Meetings
• Drive team to prioritize, assign and review departmental assignments

Supervisory Responsibilities

• None

Qualifications & Experience

• [Required] Expert Microsoft Excel spreadsheet skills
• [Required] Strong verbal and written communication skills
• [Required] Strong understanding of statistical concepts, options pricing knowledge, understanding of securities markets, derivatives, and options trading strategies required
• [Required] Strong problem solving skills
• [Required] Good presentation skills
• [Required] Ability to work independently in a fast-paced, dynamic environment
• [Required] Must be able to work under deadlines and manage multiple tasks
• [Preferred] Strong understanding of statistical concepts, options pricing knowledge, understanding of securities markets, derivatives, and options trading strategies required

Technical Skills & Background

• [Required] Microsoft Office desktop tools (Word, Excel, and PowerPoint)
• [Preferred] Coding or query experience
• [Preferred] Experience with Bloomberg Terminal
• [Required] Experience with SQL or other database query languages
• [Required] Experience with Tableau or other data visualization tools

Certifications

• [Preferred] Series 3 or 7 or equivalent education
• [Preferred] FRM or CFA designation

Education & Training

• [Required] Bachelor’s degree in Finance, Economics, Risk Management or related field
• [Required] 5+ years of experience in back-office operations or risk management
• [Preferred] Previous trading experience