Associate Principal, Core Credit

What You'll Do:

As a member of OCC’s Credit Risk Management team you will help safeguard OCC from counterparties who exhibit elevated credit or operational risk or lack appropriate risk management programs. Associate Principals are responsible for identifying, measuring, monitoring, managing, and reporting various risks and exposures introduced to OCC by clearing members, banks, and other critical counterparties. Associate Principals have a strong understanding of the risks present within the clearing industry and/or the participating financial entities, including broker-dealers, futures commission merchants, commercial banks, pension funds, and financial market utilities. Associate Principals mentor and train (Sr.) Associates and build and manage overall risk profiles of counterparties through several direct and ancillary processes.

Primary Duties and Responsibilities:

To perform this job successfully, an individual must be able to perform each primary duty satisfactorily.

• Monitor ongoing creditworthiness of counterparties and their compliance with OCC rules and other regulatory requirements, material news and event disclosures, interact with counterparties to identify root cause of issues or concerns, and escalate issues requiring enhanced surveillance to department management and internal working groups so appropriate actions can be taken

• Independently analyze financial statements to identify levels and trends in key metrics and ratios

• Perform, lead, or manage (as appropriate) documented assessments on clearing member’s risk management policies, procedures, processes, staff, and systems to understand how the member is mitigating its risk to OCC 

• Manage the applications of new counterparties and document results for presentation to senior management and Board Risk Committee for approval

• Work closely with department management on projects, cross-department collaboration, and mentoring of colleagues. As appropriate, lead high priority department projects with minimal oversight by department management.

• Act as a department expert for other Financial Risk Management teams and counterparty-facing departments when assessing all risks posed by counterparties and collaborating on cross-departmental initiatives

• Support critical, time-sensitive, and/or complex counterparty inquiries regarding OCC risk policies and procedures as well as time-sensitive, complex questions regarding margin requirements and position movements

• Support system, data, and risk methodology development, review data and risk methodologies during annual reviews, identify underlying methodology assumptions with a comprehensive set of special cases, guide methodologies through full lifecycle events, and evaluate different possible approaches/enhancements

• Develop and conduct advanced data analytics and reporting to identify and analyze causal links and meaningful relationships (e.g., correlations, distributions, percentiles) across large and/or multi-sourced data sets, determine best methods …