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The Options Clearing Corporation (OCC) · 19 hours ago

Senior Associate, Model Risk Management

Chicago - 125 S Franklin

Full-time

Hybrid

Mid, Senior Level

$90K/yr - $164K/yr

The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. The Senior Associate in Model Risk Management is responsible for analyzing model risk across various financial models and collaborating with teams to assess and remediate model risks.

FinanceFinancial ServicesProperty Management

H1B Sponsor Likely

Responsibilities

Review and assess model risk across pricing, margin risk and stress testing of financial products and derivatives

Design and implement benchmark models and model-testing tools, including backtesting, using best industry practices and innovations

Write and review validation documentation

Perform model performance testing, including portfolio back-testing using historical data

Review implementation of models and systems focusing on requirement verification

Collaborate with other team members in MRM and FRO

Communicate model risk analysis to CRO teams including Financial Risk Oversight (FRO) and collaborate with other departments at OCC

Analyse risk of new products

Qualification

Financial mathematicsRisk management methodsNumerical methodsProgramming skillsEconometricsFinancial products knowledgeModel validationTechnical documentationDatabase technologyScripting languagesAutomated testing frameworksCode repository toolsOffice technologyProblem-solving skillsWork independently

Required

Financial mathematics (derivatives pricing models, stochastic calculus, statistics and probability theory, advanced linear algebra)

Econometrics, data analysis (e.g., time series analysis, GARCH, fat-tailed distributions, copula, etc.)

Numerical methods and optimization; Monte Carlo simulation and finite difference techniques

Risk management methods (value-at-risk, expected shortfall, stress testing, backtesting, scenario analysis)

Financial products knowledge: good understanding of markets and financial derivatives in equities, interest rate, and commodity products

Basic programing skills. Able to read and write code using a programming language (e.g., Java, C++, Python, R, Scala, etc.): Model validation requires ability to write independent code for testing

Strong problem-solving skills: Be able to accurately identify a problem's source, severity, and impact to determine root cause and identify potential solutions

Proficiency in technical and scientific documentation (e.g., white papers, user guides, etc.)

Ability to work independently

Experience in a scripting language such as Python, R or MATLAB

Experience with numerical libraries and/or scientific computing

Experience with automated testing frameworks is preferred (e.g., Junit, TestNG, PyTest, etc.)

Experience with code repository, build and deployment tools (e.g., Git, GitHub)

Experience in office technology such as PowerPoint, Confluence, Latex, Word, and Excel

Bachelor's degree or equivalent is required in a quantitative field such as computer science, mathematics, physics, finance/financial engineering

Preferred

Experience in database technology and query languages (such as SQL). Non-relational DB and other Big Data, cloud-based computing experience

Master's degree

FRM, CFA, etc

Benefits

A hybrid work environment, up to 2 days per week of remote work

Tuition Reimbursement to support your continued education

Student Loan Repayment Assistance

Technology Stipend allowing you to use the device of your choice to connect to our network while working remotely

Generous PTO and Parental leave

401k Employer Match

Competitive health benefits including medical, dental and vision

Company

The Options Clearing Corporation (OCC)

Glassdoor3.3

The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization.

Founded in 1973

Chicago, Illinois, USA

1001-5000 employees

https://www.theocc.com/

H1B Sponsorship

The Options Clearing Corporation (OCC) 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 (94)

2024 (96)

2023 (72)

2022 (60)

2021 (37)

2020 (56)