Liquidity Risk & Stress Testing Senior Analyst
About the position
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. Liquidity Risk & Stress Testing is responsible for monitoring and managing market and liquidity risk exposures arising from trade execution and settlement activities in the clearing corporations and the depository, including in extreme but plausible market conditions. Responsibilities also include driving new business initiatives, overseeing risk systems design and continuous enhancements, compliance with Risk Management policies and procedures. Understanding of stress testing methodologies, keen understanding of financial markets and client profiles. Abilitiy to identify, analyze, and mitigate potential risks and safeguard financial market in which DTCC plays a pivotal role.
Responsibilities
• Identify the macroeconomic variables that are most likely to trigger stress in financial institutions and maintain the risk inventory.
• Monitor market conditions and economic trends to anticipate potential risks and impact on the stress scenario inventory.
• Design market risk and liquidity risk stress scenarios considering macroeconomic conditions and risks to DTCC.
• Performs day-to-day functions contained in the procedures such as monitoring stress-testing systems, analyzing stress-testing results, tracking trading patterns of member firms, etc.
• Develops an understanding of clients’ business and risk profiles to serve as a point of contact for risk related support and inquiries.
• Mitigates risk by following established procedures, identifying and advancing emerging risks, and demonstrating strong ethical behavior.
• Collaborates with business analysts, developers, and quality assurance testers to improve risk management systems.
• Collaborates with cross-functional teams including Counterparty Credit Risk, Market Risk, Operations, Treasury, Quantitative Risk, and Relationship Management to bolster risk management practices.
• Aligns risk and control processes into day to day responsibilities to monitor and mitigate risk; advances appropriately
Requirements
• Minimum of 2 years of related experience
• Bachelor's degree preferred or equivalent experience
• Collaborates well within and across teams.
• Communicates openly with team members and others.
• Works with the team to review deliverables and ensure quality and accuracy.
• Adheres to established rules and procedures when performing work.
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.
Apply tot his job
Apply To this Job
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. Liquidity Risk & Stress Testing is responsible for monitoring and managing market and liquidity risk exposures arising from trade execution and settlement activities in the clearing corporations and the depository, including in extreme but plausible market conditions. Responsibilities also include driving new business initiatives, overseeing risk systems design and continuous enhancements, compliance with Risk Management policies and procedures. Understanding of stress testing methodologies, keen understanding of financial markets and client profiles. Abilitiy to identify, analyze, and mitigate potential risks and safeguard financial market in which DTCC plays a pivotal role.
Responsibilities
• Identify the macroeconomic variables that are most likely to trigger stress in financial institutions and maintain the risk inventory.
• Monitor market conditions and economic trends to anticipate potential risks and impact on the stress scenario inventory.
• Design market risk and liquidity risk stress scenarios considering macroeconomic conditions and risks to DTCC.
• Performs day-to-day functions contained in the procedures such as monitoring stress-testing systems, analyzing stress-testing results, tracking trading patterns of member firms, etc.
• Develops an understanding of clients’ business and risk profiles to serve as a point of contact for risk related support and inquiries.
• Mitigates risk by following established procedures, identifying and advancing emerging risks, and demonstrating strong ethical behavior.
• Collaborates with business analysts, developers, and quality assurance testers to improve risk management systems.
• Collaborates with cross-functional teams including Counterparty Credit Risk, Market Risk, Operations, Treasury, Quantitative Risk, and Relationship Management to bolster risk management practices.
• Aligns risk and control processes into day to day responsibilities to monitor and mitigate risk; advances appropriately
Requirements
• Minimum of 2 years of related experience
• Bachelor's degree preferred or equivalent experience
• Collaborates well within and across teams.
• Communicates openly with team members and others.
• Works with the team to review deliverables and ensure quality and accuracy.
• Adheres to established rules and procedures when performing work.
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.
Apply tot his job
Apply To this Job