Theocc

Theocc

Lead Associate Principal, Quantitative Risk Management

Chicago - 125 S Franklin · Principal

Sponsorship not specified$129k-$230kDetected 30 days ago
PythonJavaC++ScalaMATLABAlgorithmsCode ReviewGitSQLJenkinsMachine LearningData AnalysisStatisticsAgileConfluenceExcelHRISSeleniumJUnitTestNGLoad TestingLaTeXProblem SolvingMicrosoft Office

About the role

  • To be considered for this position, applications and resumes are accepted only through our careers site by directly applying to the posted job.
  • We do not accept unsolicited resumes or sales solicitations from staffing agencies.
  • Any OCC employee wishing to submit a referral must do so through their Workday account.

Responsibilities

  • Develop models for pricing, margin risking and stress testing of financial products and derivatives
  • Design, implement and maintain model prototypes, model library and model testing tools using best industry practices and innovations
  • Implement new models into model library and enhance existing models
  • Perform model performance testing, including portfolio back-testing using historical data
  • Participate in model code reviews, model release testing (including margin impact analysis and baseline support and troubleshooting during model library integration with production applications) and production support
  • Support the launch of new products
  • Provide quantitative analysis and support to risk managers on pricing, margin, and risk calculations
  • Communicate model analysis to professionals across OCC and collaborate with cross-functional departments
  • This role is responsible for one or more functions within Quantitative Risk Management (QRM) to develop and maintain risk models for margin, clearing fund and stress testing: model analytics and performance monitoring
  • This role will collaborate with other quantitative analysts, business users, data & technology staff, and model validation colleagues to implement new models and enhance existing models.

Requirements

  • [Required] Strong programing skills.
  • [Required] Model implementation requires advanced Java programming ability and a demonstrated ability in developing and maintaining enterprise level software
  • [Required] Financial mathematics (derivatives pricing models, stochastic calculus, statistics and probability theory, advanced linear algebra)
  • [Required] Numerical methods and optimization
  • [Required] Risk management methods (value-at-risk, expected shortfall, stress testing, backtesting, scenario analysis)
  • [Required] Financial products knowledge: good understanding of markets and financial derivatives in equities, interest rate, and commodity products
  • [Required] Strong problem-solving skills: Be able to accurately identify a problem's source, severity, and impact to determine possible solutions and needed resources

Nice to have

  • [Preferred] FRM, CFA, etc.
  • [Required] Master's degree or equivalent in a quantitative field such as computer science, mathematics, physics, finance/financial engineering
  • 5-7 years of experience in quantitative areas in finance and/or development experience in model implementation and testing

Skills

  • [Required] Ability to challenge model methodologies, model assumptions, and validation approach
  • [Required] Proficiency in technical and scientific documentation (e.g., white papers, user guides, etc.)
  • [Preferred] Experience in Agile/SCRUM framework
  • [Required] Proficiency in database technology and query languages (such as SQL)
  • [Preferred] Non-relational DB and other Big Data, cloud-based computing experience
  • [Required] Proficiency in Java is required for model implementation (Java 8 or later)
  • [Required] Experience in a scripting language such as Python, R or MATLAB
  • Be able to accurately identify a problem's source, severity, and impact to determine possible solutions and needed resources
  • Technical Skills & Background
  • [Preferred] Experience with high performance computing
  • [Required] Experience in office technology such as PowerPoint, Confluence, Latex, Word, and Excel
  • Certifications

Compensation

  • The salary range listed for any given position is exclusive of fringe benefits and potential bonuses. If hired at OCC, your final base salary compensation will be determined by factors such as skills, experience and/or education.
  • In addition, we believe in the importance of pay equity and consider internal equity of our current team members as part of any final offer.
  • We typically do not hire at the maximum of the range in order to allow for future and continued salary growth. We also offer a substantial benefits package as noted on www.theocc.com/careers
  • $128,800.00 - $230,200.00
  • Incentive Range

Benefits

  • A highly collaborative and supportive environment developed to encourage work-life balance and employee wellness.
  • Tuition Reimbursement to support your continued education
  • 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

Company info

  • About Us
  • 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.
  • Some of these components include:
  • A hybrid work environment, up to 2 days per week of remote work
  • Student Loan Repayment Assistance
  • 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
  • This role is responsible for one or more functions within Quantitative Risk Management (QRM) to develop and maintain risk models for margin, clearing fund and stress testing: model analytics and performance monitoring; model prototyping and testing; and model implementation.

Equal opportunity

  • OCC is an Equal Opportunity Employer
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This listing is sourced directly from Theocc's careers page and normalized into a canonical job model.