Market Risk Director

Our Risk Management teams work to protect the safety and soundness of our systems and are responsible for identifying, managing, measuring and mitigating a spectrum of key risk types including credit, market, liquidity, systemic, operational and technology in all existing and new products, activities, processes and systems. 

Are you ready to make an impact at DTCC?

Do you want to work on innovative projects, collaborate with a dynamic and supportive team, and receive investment in your professional development? At DTCC, we are at the forefront of innovation in the financial markets. We are committed to helping our employees grow and succeed. We believe that you have the skills and drive to make a real impact. We foster a thriving internal community and are committed to creating a workplace that looks like the world that we serve.

Pay and Benefits:

• Competitive compensation, including base pay and annual incentive
• Comprehensive health and life insurance and well-being benefits, based on location
• Pension / Retirement benefits
• Paid Time Off and Personal/Family Care, and other leaves of absence when needed to support your physical, financial, and emotional well-being.
• DTCC offers a flexible/hybrid model of 3 days onsite and 2 days remote (onsite Tuesdays, Wednesdays and a third day unique to each team or employee).

The Impact you will have in this role:

FR&Gs mission is to provide effective and efficient identification, measurement, monitoring and control of market, liquidity & Stress Testing related to the clearing and settlement processes for DTCC, its members and the markets. In addition, FR&G provides critical governance and quality assurance capabilities for key risk functions that are designed to meet rigorous organizational and regulatory standards. FR&G works under delegated authority from the Board and senior management to manage these risks within defined risk tolerances, as approved by the Board and senior management. FR&G collaborates closely with Quantitative Risk Management and the Counterparty Credit Risk teams to maintain an integrated and comprehensive approach to financial risk management at DTCC to support an effective second line of defense. FR&Gs prime directive for DTCC's applicable clearing agencies and joint ventures consists of the following: 

• Maintain sufficient collateral to cover any losses associated with the liquidation of any defaulting member or family portfolio under extreme but plausible scenarios; 
• Ensure that sufficient liquidity resources are available so that each entity is able to settle all transactions as contracted in the event of a failure by the single largest member or family under extreme but plausible circumstances;
• Exercise continuous improvement of policies, procedures and processes that support robust, ongoing member surveillance and effective but appropriate response to distress events; and 
• Manage FR&G to maintain a deep and broad product knowledge and risk framework to effectively measure and manage market, liquidity and credit risks. Market Risk for Fixed Income Clearing Corporation (FICC) and National Securities Clearing Corporation (NSCC) is responsible for the monitoring of daily margin calculation and managing market and liquidity risk exposures arising from trade execution and settlement activities in the clearing corporations and the depository. 

Responsibilities also include driving new business initiatives, overseeing risk systems design and continuous enhancements, compliance with Risk Management policies and procedures. Responsible for understanding of margining methodologies, keen understanding of financial markets and client profiles, and effectively collaborate with other DTCC teams to identify, analyze, and mitigate potential risks and safeguard financial market in which DTCC plays a pivotal role.

Your Primary Responsibilities:

• Proactively identify and evaluate change in member’s market risk exposures, liquidity needs and settlement obligations and provide solutions to mitigate exposures in timely manner.
• Monitor market conditions and economic trends to anticipate potential risks and their potential impact on members’ margin requirements.
• Lead a team of Market Risk professionals across multiple site locations with a focus on developing and retaining talent, supporting individual growth, and establishing a culture of proactive risk management and accountability.
• Provide risk committees with insights on market risk dynamics, potential vulnerabilities, and risk management strategies.
• Proactively identify potential model errors, mitigate risk by ensuring adherence of the processes to the policies and procedures, and demonstrating strong ethical behavior.
• Develop and improve policies and procedures to enhance existing risk controls and compliance with the regulatory requirements and industry best practices.
• Foresee potential issues arising from internal audits, regulatory exams, and risk assessment, collaborate with stakeholders to develop and implement remediation plans.
• Present key metrics to senior management and regulatory supervisors.
• Lead the most complex projects and process enhancements to ensure emerging risk is effectively mitigated in support of new and existing products.
• Mitigates risk by following established procedures, spotting key errors and demonstrating strong ethical behavior.

Qualifications:

• Minimum of 10 years of related experience
• Bachelor's degree preferred or equivalent experience

Talents Needed for Success:

• Inspires different approaches or ways of working.
• Inspires teams to constructively challenge established views.
• Presents information clearly in writing and orally in larger group settings.
• Convinces others on key topics by presenting persuasive arguments and alternative approaches.
• Sets an example for others by personally embracing change; Builds ownership for change by empowering others to lead change initiatives.

The salary range is indicative for roles at the same level within DTCC across all US locations. Actual salary is determined based on the role, location, individual experience, skills, and other considerations. We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.