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Director Financial Risk Analysis
Options Clearing Corporation
Chicago, IL, United States
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Job Details:
Summary
The Enterprise Risk Management (“ERM”) is a “Second Line of Defense” function that identifies, measures, monitors and reports risks and exposures across the organization through the Enterprise Risk Management Framework, and specifically through several risk programs, including but not limited to: Enterprise Risk Assessments, Risk Event Analysis, Scenario Analysis, Third Party Risk Assessments, Key Risk Indicators and Risk Reporting.
The Director of Financial Risk Analysis position will lead the enterprise risk assessment program activities as related to financial risk areas. This position will work closely with Financial Risk Management and other control functions and facilitate appropriate business unit risk governance to ensure alignment to OCC strategy and short-term objectives. This position must build positive and collaborative working relationships and partnerships with senior management, especially Financial Risk Management and engage in advisory and effective challenge activities as required by the Risk Management Framework.
Primary Duties and Responsibilities:
• Support the VP of Risk Analysis to implement effective enterprise risk management strategy, particularly regarding the enterprise risk assessment programs
• Build positive and collaborative working relationships and partnerships with senior management, especially Financial Risk Management and engage in advisory and effective challenge activities
• Escalate Enterprise Risk Management challenges to Senior Management and the Board of Directors for the development and implementation of risk management strategies
• Play a key role in the Financial Risk Management Working Groups (e.g. Default Management, Stress Testing)
• Maintain oversight of the inventory of risk statements and risk assessments, and advance continuous improvement in risk assessment tools or other risk-related activities
• Update OCC’s disclosures concerning CPMI-IOSCO's Principles for Financial Market Infrastructures (PFMI)
• Lead/facilitate scenario analysis and working group discussions as requested by the First Line business units.
• Assists management with enhancing internal processes, advancing best practices, and fostering continuous improvement relative to enterprise and operational risk
• Manage ad-hoc requests from senior management to ensure timely and accurate responses
• Manage and update ERM procedures and job aides to appropriately document activities, including developing and embedding of new program activities
Supervisory Responsibilities:
• Four or more individuals
Qualifications:
• Subject matter expertise regarding Enterprise Risk Management (ERM), Financial Risk Management (FRM) and an understanding of OCC products and services
• Familiarity with Financial Market Utilities; securities and derivatives markets
• In-depth understanding of risk management practices and methodologies, including risk assessment and a strong understanding of internal control and mitigation strategy concepts
• Strong leadership, project management and organization skills, including the ability to multitask, prioritize, delegate, and manage an effective and growing team.
• Demonstrable evidence of specifying, designing and delivering risk tools from scratch
• Experience in risk management, oversight, compliance, and audit principles and best practices
• Ability to work in a highly regulated environment, including with the SEC, CFTC and Federal Reserve; Familiarity with the Covered Clearing Agency regulations a plus.
• Demonstrated record of creativity, independent thinking, and willingness to develop and drive new ideas
• Effective listener with clear, concise verbal and written communication
• Must be team-oriented and be able to collaborate effectively in department and cross-departmental efforts
• Ability to build strong working relationships with First Line business partners a must.
• Ability to work under pressure and with tight deadlines
Technical Skills:
• Microsoft Office proficiency including advanced Excel, PowerPoint and Word
• Experience with eGRC systems
Education and/or Experience:
• Bachelor’s Degree (or equivalent)
• 7 years+ progressive experience in enterprise risk, operational risk management or risk consultancy, with at least 5 years dedicated experience in Risk Management
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Step 3
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