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Operations Management & Assurance Director

Company: DTCC
Location: Jersey City
Posted on: April 5, 2021

Job Description:

Operations Management & Assurance Director 201792 Jersey City, NJ, Dallas TX, Tampa, FL or Boston, MA. 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. Why you'll love this job: We are looking for a Director level senior person to join the Model Risk Management group ("MRM"), which is responsible for all aspects of Model Risk Management at DTCC from model governance, operations management & assurance ("OM&A"), independent model validation to model performance monitoring ("MPM") and back testing ("BT"). The Director level incumbent will work closely with the heads of model validation and model governance within MRM group to establish assurance of quality and consistency of operations for all MRM related processes across the firm and provide oversight of adherence to the standards of excellence for MRM activities including consistency of model documentation, validation reports, MPM reports, model inventory operations, etc. This position has extensive people, project and methodology responsibilities. It is a high-visibility position with frequent and in-depth interactions with multiple internal and external stakeholders such as Quant groups, Market and Liquidity Risk, IT, Management, Clients, Internal Audit and our Regulators. Successful candidate is expected to quickly achieve a comprehensive understanding of the DTCC's businesses and be able to apply industry best practices to DTCC's business context. Your Responsibilities: Manage the OM&A team. Set up and maintain best-in-class requirements for all MRM processes and standards and provide oversight for their compliance. Recruit and management competent personnel for conduct OM&A activities. Interface with the auditors and Regulators on all aspects of OM&A review and oversight. Perform regular as well as ad hoc analysis to identify gaps in quality of various MRM processes, design solutions and implement those solutions for MRM and across the company when needed. Coordinate MRM review activities, including resource & validation planning, status updates & tollgates, management reporting and partnership with lines of business. Challenge MRM peers to ensure the best-in-class model risk practices are achieved. Mitigates risk by following established procedures, spotting key errors and demonstrating strong ethical behavior. Talents Needed for Success: Minimum of 10 years of related experience. Bachelor's degree preferred with Masters or equivalent experience. Broad expertise in quantitative finance on valuation models (curve building methodologies, term structure models, option models, credit Operations models), and risk management models and methodologies (greeks, VaR, back testing, stress testing). Knowledge of prepayment modeling, MBS pricing and risks is a plus. Deep understanding of the regulatory environment surrounding model risk management (SR11-7 and SEC Covered Clearing Agency Standards). 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.

Keywords: DTCC, Jersey City , Operations Management & Assurance Director, Executive , Jersey City, New Jersey

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