JerseyCityRecruiter Since 2001
the smart solution for Jersey City jobs

Model Risk Director

Company: DTCC
Location: Jersey City
Posted on: May 18, 2020

Job Description:

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 tackle challenges with flexibility and grace, learning new skills

and advancing your career while having the time of your life.

About this Opportunity - Model Risk Director (#200356)


are looking for a Director to join the Model Validation & Control group

("MVC"), which is responsible for all aspects of Model Risk

Management ("MRM") at DTCC from model governance & control,

independent model validation to model performance monitoring ("MPM")

and back testing ("BT"). The

incumbent will work closely with the validation team within MVC group to

perform quality control testing over the validation work performed by the

validators to ensure the validation work is up to the standards as defined by

DTCC Model Risk Management policy, Model Validation Procedures and regulatory


Your Responsibilities:

  • Work with head of MVC to set up quality control standards
  • Manage Quality Control team within MVC group
  • Perform quality control testing on the validation work to ensure the

    compliance with internal and external requirements
  • Enforce DTCC model documentation standards across the firm and

    identify gaps and create action plans to remediate the gaps
  • Perform data review and control and act as liaison between the

    validation team and Data Integrity team to set up monitoring thresholds
  • Present quality control and data review results and resolutions to

    Model Risk Governance Council ("MRGC")
  • Mitigates risk by following established procedures, spotting key

    errors and demonstrating strong ethical behavior.


    • Broad expertise in quantitative finance on valuation models (curve

      building methodologies, term structure models, option models, credit

      models), and risk management models and methodologies (Greeks, VaR, back

      testing, stress testing).
    • Knowledge of prepayment modeling, MBS pricing and risks is a plus.
    • Experience and expert knowledge on VaR modeling and VaR model back

      testing methodologies
    • Strong mathematical background, especially in probability theory,

      stochastic processes, and PDE's.
    • Econometric modeling and applied statistics skills (i.e. estimation,

      time series modeling, Monte Carlo simulation techniques, etc.)
    • High level of computer literacy, ability to work effectively with

      Matlab, Excel (VBA), SQL, R, Python or C++
    • Excellent written and oral communication and presentation skills,

      ability to communicate quantitative concepts to financial professionals
    • Prior team management experience is required
    • Ideally the incumbent should be familiar with the regulatory

      requirements in terms of model risk management (SR11-7) and SEC Covered

      Clearing Agency Standards
    • Be a strategic thinker with vision having the ability to identify

      problems and provide strategic solutions and carry out change management


    • Diligent, detail oriented and able to function under pressure. Able

      to carry out hands-on analytics work to check, benchmark, and enforce

    • Minimum of

      10 years of related experience, ideally in risk analytics, model

      validation or front office quant modeling
    • A Ph.D. or a

      Master's degree in quantitative finance, economics, or other quantitative

      fields. A Ph.D. is preferred.

      Who We Are:

      With over 45 years of experience,

      DTCC is the premier post-trade market infrastructure for the global financial

      services industry. From operating facilities, data centers and offices in 16

      countries, DTCC, through its subsidiaries, automates, centralizes and

      standardizes the processing of financial transactions, mitigating risk,

      increasing transparency and driving efficiency for thousands of broker/dealers,

      custodian banks and asset managers. Industry owned and governed, the firm

      simplifies the complexities of clearing, settlement, asset servicing, data

      management, data reporting and information services across asset classes,

      bringing increased security and soundness to financial markets. In 2018, DTCC's

      subsidiaries processed securities transactions valued at more than U.S. $1.85

      quadrillion. Its depository provides custody and asset servicing for securities

      issues from 170 countries and territories valued at U.S. $52.2 trillion. DTCC's

      Global Trade Repository service, through locally registered, licensed, or

      approved trade repositories, processes over 14 billion messages annually. To

      learn more, please visit us at

      or connect with us on LinkedIn,

      Twitter, YouTube and Facebook.

Keywords: DTCC, Jersey City , Model Risk Director, Executive , Jersey City, New Jersey

Click here to apply!

Didn't find what you're looking for? Search again!

I'm looking for
in category

Other Executive Jobs

Director, Flagship Retail Operations
Description: Warner Bros. is continuing to expand and evolve with the opening of stores, in key cities globally. These stores will bring to life the magic for all Fans and Super Fans. Flagship Retail will deliver (more...)
Company: Time Warner
Location: New York
Posted on: 06/4/2020

Property Manager
Description: BE authentic. BE influential. BE the expert. Be all that and more at Colliers International. br br At Colliers International, we help leaders succeed by helping them build amazing workplaces, businesses (more...)
Company: Colliers International
Location: Parsippany
Posted on: 06/4/2020

Senior Vice President, Media
Description: The SVP, Media Director is responsible for the strategic management of all of the Agency media planning services deliverables at the brand level and for growing the business organically on specific brand (more...)
Company: CMI Media and Compas, Inc.
Location: Parsippany
Posted on: 06/4/2020

Director, Communications
Description: The Vox Media Communications team is looking for a highly driven and creative communications professional to join the company and oversee communications and media relations, reporting to the Vice President, (more...)
Company: Vox Media, Inc.
Location: New York
Posted on: 06/4/2020

Head of Products/Product Director
Description: Marketing Statement MetroPlus Health Plan provides the highest quality healthcare services to residents of Bronx, Brooklyn, Manhattan, Queens and Staten Island through a comprehensive list of products, (more...)
Company: Metroplus Health Plan
Location: New York
Posted on: 06/4/2020

Expert Associate Director (Global Advantage, Digital Ecosystems)
Description: ABOUT US br br Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business (more...)
Company: Boston Consulting Group
Location: New York
Posted on: 06/4/2020

Senior Director, Research and Development
Description: Authentic Brands Group ABG is a brand development, marketing and entertainment company, which owns a portfolio of global media, entertainment and lifestyle brands.-- ABG elevates and builds the long-term (more...)
Company: Authentic Brands Group
Location: New York
Posted on: 06/4/2020

Expert Associate Director/Expert Partner & Associate Director (Data & Digital Platforms)
Description: ABOUT US br br Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business (more...)
Company: Boston Consulting Group
Location: Summit
Posted on: 06/4/2020

Director, Disputes and Investigations
Description: Our professionals balanceanalytical skills, deep market insight and independence to deliver solid,defensible analysis and practical advice to our clients. As an organization, wethink globally. We create (more...)
Location: Glen Head
Posted on: 06/4/2020

Vice President Financial, Advisor Client Service
Description: As VP Financial Advisor, you are the face of Farther to our clients. You own our client relationships and go to extraordinary lengths to deliver a first-class experience. You apply your history
Company: Farther Finance
Location: New York
Posted on: 06/4/2020

Log In or Create An Account

Get the latest New Jersey jobs by following @recnetNJ on Twitter!

Jersey City RSS job feeds