Market Risk Executive Director

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:

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. Market Risk for Fixed Income Clearing Corporation (FICC) and National Securities Clearing Corporation (NSCC) is responsible for the monitoring of daily margin calculation and managing market and liquidity risk exposures arising from trade execution and settlement activities in the clearing corporations and the depository. Responsibilities also include driving new business initiatives, overseeing risk systems design and continuous enhancements, compliance with Risk Management policies and procedures. Responsible for understanding of margining methodologies, keen understanding of financial markets and client profiles, and effectively collaborate with other DTCC teams to identify, analyze, and mitigate potential risks and safeguard financial market in which DTCC plays a pivotal role.

Your Primary Responsibilities:
 

• Lead multiple market risk teams across global offices. Understand clearing and settlement business line products and service offerings spanning equity, exchange traded product, and fixed income asset classes.
• Engage market participants and other central counterparty stakeholders to understand the market environment and shape the DTCC risk programs.
• Engage and lead integration of DTCC digital asset solutions into the broader risk framework, develop team members to expand digital asset product knowledge.
• Monitor and assess team and division budgets, direct short and long-term team and division staffing needs, and develop team leaders.

• Develop, communicate, and be accountable for adherence to regulation and guidelines, firmwide and department policy, procedures, and best practices. Accountable for results of audits, risk assessments, and compliance with industry-related legislation.

  
  

• Partner with the businesses to establish key business objectives and priorities, and set strategic direction for risk teams and divisions that supports strategic direction for the firm.

  
  
• Lead initiatives to address emerging risks and achieve department and firm objectives, and provide support for client engagement on initiatives and company objectives for the largest and/or most complex clients.
• Demonstrate strong verbal, and written communication skills by presenting to internal and external senior stakeholders. Ability to participate in regulatory discussions. Participate in internal and external committees.
• Establish climate of the business regarding communication, trust, diversity, employee satisfaction, and problem-resolution.

• Fosters a risk management culture through implementation and demonstration of processes and procedures which identify and mitigate risk

  
  

Qualifications:

• Minimum of 15 years of related experience
• Bachelor's degree preferred or equivalent experience

Talents Needed for Success:

• Sets a clear-sighted vision of the future to achieve the organization's desired market or business position; Describes how the vision for the organization's future can be realized through tangible actions.
• Drives a culture of motivation and commitment to the vision.
• Adapts presentation and communication style to fit the audience.
• Shapes the opinions of key decision-makers and senior leaders by presenting persuasive arguments and alternative approaches.
• Builds an organizational culture that embraces change as an opportunity rather than an obstacle; Empowers and supports individual efforts to align with change initiatives.

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.