Model Risk Analyst

Are you ready to explore a world of possibilities?

Join our DTCC family, and you’ll grow your expertise and become the best version of you. As you embark on a new journey, you’ll be supported and surrounded by other professionals as you learn new skills, advance your career, and see the impact of your efforts every day.

Pay and Benefits:

• Competitive compensation, including base pay and annual incentive
• Comprehensive health and life insurance and well-being benefits, based on location
• Retirement benefits
• Paid Time Off and other leave of absence
• Flexible/Hybrid Work Arrangements

Why you'll love this job :

The Model Risk Management (MRM) Governance Analyst is responsible for tracking and reporting of model risk findings in accordance with the firmwide issue management process. The MRM Governance analyst is involved in all aspects of managing model risk finding including entry into the firmwide issue management system, monitoring and following up on the closure and approval, and presenting status reports to the Model Risk Governance Council. In addition, the Governance Analyst is also responsible for performing various model identification processes that includes conducting a firm-wide annual survey and performing initiative reviews and model determination assessments. The position requires outstanding verbal and written communication skills, understanding of quantitative models, an ability to flex between the strategic and tactical, and a high level of energy and flexibility to get things done and thrive in a fast-paced, team-oriented enterprise risk management environment.

The Governance Analyst will work closely with validation and will require high-visibility and in-depth interactions with multiple internal and external stakeholders such as Quant groups, Market and Liquidity Risk, IT, Management, Internal Audit and our Regulators.

Your Primary Responsibilities :

• Responsible for managing the issue management process that includes reviewing and entering issue descriptions, monitoring the progress of action plans, and reporting.
• Responsible for attending firm-wide initiatives meetings and reviewing third party requests to proactively identify models, making model determinations on any potential models, and documenting the rationale
• Produce and maintain status reports on inventory activities and issue management for stakeholders, including senior management and Board members, to provide transparency and to facilitate decision-making
• Assist with firm-wide annual model survey that includes administration of the model survey, analysis of the survey responses, collection and documentation of effective challenge from SME, and collation of results and attestation
• Identify risks and opportunities for increasing model risk awareness within the firm and ensuring all models used within the firm are identified in a timely manner
• Develop and implement automation tools to increase team’s efficiency

Leadership Competencies

Inclusive Leadership: Values individuals and embraces diversity by integrating differences and promoting diversity and inclusion across teams and functions.

Coaching: Understands and anticipates people's needs, skills, and abilities, in order to coach, motivate and empower them for success.

Feedback: Seeks feedback from others, provides feedback to others in support of their development, and is open and honest while dealing constructively with criticism.

Talents Needed For Success:

• Minimum of 2 year financial services industry experience, ideally in model risk governance, model validation and control, risk management or analytics.
• Bachelor's degree in a related field, preferably in statistics, computer science, economics or finance.

Additional Qualifications:

• Broad expertise in quantitative finance and/or and risk management models and methodologies.
• Understanding of the regulatory environment surrounding model risk management (SR11-7 and SEC Covered Clearing Agency Standards).

Who We Are:

DTCC is the heart of the post-trade market infrastructure for the global financial services industry. From 21 locations all over the world, DTCC, through its subsidiaries, automates, centralizes and standardizes the processing of financial transactions, mitigating risk, increasing transparency and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. In 2020, DTCC’s subsidiaries processed securities transactions valued at more than U.S. $2.3 quadrillion.

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.