Financial Risk Jobs in New York (NOW HIRING)

JOB DESCRIPTION

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're 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:

Financial Risk & Governance's (FR&G) mission is to provide effective and efficient identification, measurement, monitoring and control of market and liquidity risks, including those identified through Stress Testing activities, 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.

The Financial Risk Product Owner Senior Associate is responsible for translating the product vision into squad deliverables to achieve the product strategy, aligned with maximizing value to the client. This is done through managing scope and product backlog in collaboration with the multiple squads, Product Manager, clients (internal/external) and key stakeholders.

The position requires keen business analysis and communication skills to draft and present business requirements to both internal and external stakeholders for ratification. The candidate must be proficient in depicting and describing business impact assessments between current-state and various future state business models. The position entails leading multiple internal stakeholder meetings and representing Financial Risk & Governance’s business in various forums on projects and new initiatives.

Your Primary Responsibilities:

• Support Financial Risk & Governance in achieving their strategic objectives, which may include aspects of project management, task management, moderating meetings, coordinating with key stakeholders to deliver the product vision and the roadmap into squad deliverables and release plans.
• Work with the leads of various Financial Risk & Governance teams to deliver on the specific initiatives prioritized and budgeted.
• Support the priorities of FR&G through planning, developing a deeper knowledge, and partnering with development and engineering teams
• Support the Product Owners in an Agile squad and partnering with internal teams for implementation of new features ensuring that all proposed changes are reviewed, feedback is incorporated, and any impact is fully communicated to internal stakeholders.
• Participate in internal and external working groups and other relevant subject matter working groups.
• Assist with data and material preparation
• Identifies potential risks to achieving project objectives and elevates to appropriate management. Mitigates risk by following established procedures, spotting key errors and demonstrating strong ethical behavior.
• Partner with stakeholders to understand applicable legislation and develop requirements that drive regulatory compliant solutions.

NOTE: The Primary Responsibilities of this role are not limited to the details above.

Qualifications:

• Minimum of 4 years of related experience
• Bachelor's degree preferred with Masters or equivalent experience.
• Experience in Agile/scrum methodology, including defining a minimal viable product, and exposure to other software development methodologies.

Talents Needed for Success:

• Exhibits strong understanding of Agile Software Development (primarily Scrum and Kanban) principles and techniques.
• Understands and uses applicable work management tools (i.e. JIRA) for decision making and collaboration.
• Drives creative and solution-oriented activity with all participants and stakeholders
• Knowledge of financial services operations and risk management; clearance and settlement, post trade processing & associated regulation, trends and user demands in these areas.
• Executes against the Product Vision and effectively translates into Product Roadmap and Backlog items to deliver the highest value.
• Collaborate with product management peers globally to ensure best practice and core principals are understood, adopted and implemented in regional initiatives.
• Ability to collect, analyze and visually present data via the use of charts, graphs or infographics.

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.

ABOUT US

With over 50 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From 20 locations around the world, DTCC, through its subsidiaries, automates, centralizes, and standardizes the processing of financial transactions, mitigating risk, increasing transparency, enhancing performance and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and governed, the firm innovates purposefully, simplifying the complexities of clearing, settlement, asset servicing, transaction processing, trade reporting and data services across asset classes, bringing enhanced resilience and soundness to existing financial markets while advancing the digital asset ecosystem. In 2024, DTCC’s subsidiaries processed securities transactions valued at U.S. $3.7 quadrillion and its depository subsidiary provided custody and asset servicing for securities issues from over 150 countries and territories valued at U.S. $99 trillion. DTCC’s Global Trade Repository service, through locally registered, licensed, or approved trade repositories, processes more than 25 billion messages annually. To learn more, please visit us at www.dtcc.com or connect with us on LinkedIn, X, YouTube, Facebook and Instagram.

DTCC proudly supports Flexible Work Arrangements favoring openness and gives people freedom to do their jobs well, by encouraging diverse opinions and emphasizing teamwork. When you join our team, you’ll have an opportunity to make meaningful contributions at a company that is recognized as a thought leader in both the financial services and technology industries. A DTCC career is more than a good way to earn a living. It’s the chance to make a difference at a company that’s truly one of a kind.

Learn more about Clearance and Settlement by clicking here.

ABOUT THE TEAM

Our Risk Management teams work to protect the safety and soundness of our systems and are responsible for identifying, managing, measuring and mitigating a spectrum of key risk types including credit, market, liquidity, systemic, operational and technology in all existing and new products, activities, processes and systems.