DTCC

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:

Being a member of the Model Risk Management (MRM) Team you will be responsible for overseeing enterprise-wide model risk management and supporting front-line units in handling model risk. MRM provides oversight of day-to-day model risk management activities to identify, measure, monitor, and handle risk related to the design, development, and implementation and use of models. Model Risk Governance (MRG) provides explicit support and structure to risk management functions through policies defining relevant risk management activities, procedures that implement those policies, allocation of resources, and mechanisms for testing that policies and procedures are being carried out as specified.

As an Associate Director in the Operations Management & Assurance (“OM&A”) team, you will be in a high profile position and will work closely with various teams to perform AI/ML model assessment and quality control testing on validation documents. You will have frequent interactions with multiple internal and external partners, including model owners and developers, Product Risk, IT, Management, Clients, EUCA management, Internal Audit, and DTCC Regulators. You will achieve a comprehensive understanding of DTCC’s businesses and be able to apply industry standard processes to DTCC’s business context

Your Primary Responsibilities:

• Perform quality control review of the following:
  • Validation and annual review reports to ensure the compliance with requirements
  • Model documentation for new models to ensure that it meets the requirements set forth in the Model Development Standards
  • Model inventory information that is shared with the regulators
• Perform hands-on model assessments and reviews
  • Conduct model assessment review, prepare high quality report, and summary and present finding(s) to the Model Risk Governance Council ("MRGC")
  • Follow-up with Model Owners to resolve assessment findings
  • Help develop and implement programs, processes, and frameworks to provide independent assessment to mitigate risk related to the company's Non-material model management practices.
  • Contribute to efforts in support of scope and priorities for key documentation, communication, training, and business requirements in support of the Model Risk Management framework.
  • Advise on governance, risks, and controls related to Generative AI policies, standards, and procedures.
  • Maintain key documents related to the Non-material model management framework
• Maintain, perform, and analyze monthly and quarterly risk reports to support Senior Risk Councils
• Work with auditors and regulators as needed and provide requested materials expeditiously
• Complete special projects to be determined by the OM&A Director and MRM’s Senior Leadership Team
• Maintain procedures, standards, and job aids owned by OM&A
• NOTE: The Primary Responsibilities of this role are not limited to the details above. **

Qualifications:

• Master's degree in quantitative finance, mathematics, economics, financial engineering, or other quantitative fields.
• Minimum of 8 years of related experience, ideally in financial risk model validation, quantitative risk analytics

Talents Needed for Success:

• Familiar with banking, financial institutions, financial instruments, and market principles
• Broad knowledge of Artificial Intelligence and Machine Learning (AI/ML) models, particularly the evolving field of Large Language Models (LLM) and Generative AI (Gen AI) models.
• Technical experience with Excel (VBA), Excel Power Tools, SQL, R, or Python
• Ability to communicate and present quantitative concepts to financial professionals

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.

DTCC safeguards the financial markets and helps them run efficiently, in times of prosperity and crisis. We are uniquely positioned at the center of global trading activity, processing over 100 million financial transactions every day, pioneering industry-wide, post-trade solutions and maintaining multiple data and operating centers worldwide. From where we stand, we can anticipate the industry’s needs and we’re working to continually improve the world’s most resilient, secure and efficient market infrastructure. Our employees are driven to deliver innovative technologies that improve efficiency, lower cost and bring stability and certainty to the post-trade lifecycle.

DTCC proudly supports Flexible Work Arrangements favoring openness and gives people freedom to do their jobs well, by encouraging diverse opinions and emphasizing teamwork. When you join our team, you’ll have an opportunity to make meaningful contributions at a company that is recognized as a thought leader in both the financial services and technology industries. A DTCC career is more than a good way to earn a living. It’s the chance to make a difference at a company that’s truly one of a kind.

Learn more about Clearance and Settlement by clicking here.

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.