The Depository Trust & Clearing Corporation (DTCC) · 2 weeks ago
Model Validation Associate Director
Jersey City, NJ
Full-time
Hybrid
Mid, Senior Level, Lead/Staff
3+ years expThe Depository Trust & Clearing Corporation (DTCC) is at the forefront of innovation in the financial markets, committed to employee growth and success. The Model Validation Associate Director will oversee enterprise-wide model risk management, ensuring effective validation of models and compliance with regulatory standards while collaborating with various teams and stakeholders.
FinanceFinancial ExchangesFinancial ServicesInformation Technology
Responsibilities
Perform hands-on validations and reviews, write quality model validation reports, and provide model approvals
Collaborate with the Project Management Office (PMO) to maintain a viable model validation schedule, coordinate and oversee model validation, and review performed by the model validators to ensure timeliness, quality, and effective challenge
Work with the model owner, model developer, and model user on all aspects of model validation and issue resolution
Prepare model validation and review presentations to the Model Risk Governance Council (MRGC) meetings for model approval, model issue tracking and resolution. Present results and finding resolutions to the Model Risk Governance Council (MRGC)
Collaborate with the Operations & Management Assurance (OM&A) team to ensure the highest quality of validation, annual review, and Model Performance Monitoring (MPM) reports
Collaborate with the auditors and regulators on all aspects of model validation
Challenge the model performance and methodologies at monthly MRGC review meeting
Perform ad hoc analysis to identify model limitations and performance issues. Recommend action plan for remediation
Review Model Performance Monitoring (MPM) metrics and plans according to firmwide Model Performance Monitoring (MPM) standards and opine on the appropriateness of the metrics and plans
Present Model Performance Monitoring (MPM) reviews, oversight results, and finding resolutions to the Model Risk Governance Council (MRGC)
Challenge Model Performance Monitoring (MPM) reports at monthly Model Risk Governance Council (MRGC) review meeting
Review low-tier models and non-models and implement established controls
Knowledge of the financial market and products. Experience in model validation and or model development. Familiarity with regulatory requirements on Model Risk Management(SR 11-7 and CCAS rules)
Proficiency in programming languages (For example, SQL, Python, R, SAS, C/C++)
Mitigates risk by following established procedures and monitoring controls, spotting key errors and demonstrating strong ethical behavior
Qualification
Required
Ph.D. or master's degree in quantitative finance, mathematics, economics, financial engineering, or other quantitative fields
3-5 years of related experience, ideally in financial risk model validation, risk analytics or quantitative modeling
Knowledge of the financial market and products
Experience in model validation and or model development
Familiarity with regulatory requirements on Model Risk Management(SR 11-7 and CCAS rules)
Proficiency in programming languages (For example, SQL, Python, R, SAS, C/C++)
Mitigates risk by following established procedures and monitoring controls, spotting key errors and demonstrating strong ethical behavior
Preferred
Familiar with banking, financial institutions, financial instruments, and capital markets
Broad expertise in quantitative finance on valuation models (curve building methodologies, term structure models, option models, credit models), and risk management models and methodologies (Greeks, VaR, back testing, stress testing)
Experience and authority knowledge on VaR modeling and VaR model back testing methodologies
Strong mathematical background, especially in probability theory, stochastic processes, and PDE's
Economic modeling and applied statistics skills (i.e., estimation, time series modeling, Monte Carlo simulation techniques, etc.)
High Level of digital literacy, ability to work efficiently with MATLAB, Excel (VBA), SQL, R, Python or C++
Excellent written and verbal communication and presentation skills, ability to communicate quantitative concepts to financial professionals
Knowledge of prepayment modeling, MBS pricing and risks is a plus
Knowledge and experience on data science and Machine Learning technics/languages is desired
SEC Covered Clearing Agency Standards
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.
Company
The Depository Trust & Clearing Corporation (DTCC)
With over 50 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry.
5001-10000 employees
H1B Sponsorship
The Depository Trust & Clearing Corporation (DTCC) has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (119)
2024 (59)
2023 (74)
2022 (84)
2021 (36)
2020 (77)
Funding
Current Stage
Late StageLeadership Team
Frank La Salla
President, CEO and Director of DTCC
E
Edward Cortes
Executive Director
Recent News
2026-01-09
Company data provided by crunchbase