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Director of FRM - Pricing & Margins
Options Clearing Corporation
Chicago, IL, United States
Job Details - this job has expired, please see similar jobs below
Summary:
The person holding this position will participate in setting the strategic direction of the Pricing & Margins department and oversee all daily activities including all processes supporting integrity of price data (used for Risk Management and Core Clearing processes) and all processes to support SEC and CFTC regulated customer margin / haircut programs (Risk Based Haircuts, Customer Portfolio Margins, OFRA/SPAN). Responsibilities also include direct interaction with Regulatory bodies such as FINRA, representatives from the futures and options exchanges, and with OCC senior management.
Primary Duties and Responsibilities:
To perform this job successfully, an individual must be able to perform each primary duty satisfactorily.
• Manage staff performing daily market price validation for all products cleared by OCC or part of an OCC supported process using proprietary OCC tools/applications. Products include equity, index, and derivative prices as well as all price inputs (dividends, interest rates, exchange rates, etc). Ensure proper control activities are in place to support standards for accuracy and timeliness.
• Provide direction to staff during production issues/outages; ensure standards for accuracy and timeliness are maintained.
• Manage staff overseeing the support and administration of SEC and CFTC regulated programs related to customer margin / haircut calculations. Evaluate products to ensure eligibility standards for inclusion are met and determine appropriate treatment (i.e. stress levels, offsets). Ensure proper control activities are in place to support standards for accuracy and timeliness.
• Ensure department staff adequately addresses questions from and provide support to clearing members, participants in OCC administered regulatory programs and the general public; provide direction to staff as needed.
• Provide detailed explanation of OCC’s risk management framework to external parties and describe interaction with supported regulatory programs.
• Conduct/oversee miscellaneous studies and analysis for senior management.
• Support system development efforts including large project work as well as maintenance activities.
• Manage the development and maintenance of written policies and procedures for FRM – Pricing & Margins processes.
• Perform other duties as assigned.
• Light travel required.
Supervisory Responsibilities:
• Supervise department staff, including Business Analysts, Senior Business Analysts, and department Managers.
• Prioritize and distribute department assignments.
• Write and deliver employee performance appraisals.
• Oversee staff’s professional development and skill advancement.
Qualifications:
The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the primary functions.
• Ability to manage multiple large-scale efforts of competing priority.
• Self-directed; Ability to work both independently with minimal direction or oversight in a team-oriented, collaborative environment.
• Strong verbal and written communication skills. Comfortable working in a customer service oriented environment and addressing questions from both OCC colleagues and the general public. Good listening skills.
• Strong interpersonal and influencing skills, including ability to interact effectively with peers, all levels of management, regulators and exchanges.
• Good organization skills; must be detail oriented.
• Comfortable performing data validation and reconciliation.
• Ability to work well under pressure with multiple priorities and time-sensitive deadlines.
• Strong understanding of securities and futures markets and derivative valuation. Knowledge of applicable industry rules and regulations (SEC, FINRA, Exchange Rules, OCC Rules).
• Strong understanding of statistical concepts.
Technical Skills:
• Strong PC skills; comfortable with Windows environment.
• Highly proficient in Microsoft Excel, including experience using lookups and pivot tables. Comfortable performing data analysis and manipulation on large, complex sets of information with little oversight.
• Proficient in Microsoft Word and PowerPoint. Experience with Access a plus.
• Experience using Bloomberg and/or Thomson Reuters desk-top client, and ability to connect these tools to excel.
• Ability to modify and execute basic sql using appropriate query tools (i.e. DB2 Connect).
Education and/or Experience:
• Bachelors degree (or equivalent) in Finance, Economics or related field; MBA or demonstrable progress towards MBA preferred.
• Previous experience in risk management, 5-10 years preferred.
Certificates or Licenses:
N/A
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Step 3
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