The Depository Trust & Clearing Corporation (DTCC)
Model Risk Gov Associate Director
The Depository Trust & Clearing Corporation (DTCC) - Jersey City, New Jersey, us, 07305
Work at The Depository Trust & Clearing Corporation (DTCC)
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Overview
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Model Risk Gov Associate Director
role at
The Depository Trust & Clearing Corporation (DTCC) 2 weeks ago Be among the first 25 applicants Join to apply for the
Model Risk Gov Associate Director
role at
The Depository Trust & Clearing Corporation (DTCC) Get AI-powered advice on this job and more exclusive features. Job Description
Please read the information in this job post thoroughly to understand exactly what is expected of potential candidates.
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. Competitive compensation, including base pay and annual incentive Comprehensive health and life insurance and well-being benefits, based on location 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).
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 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
Being a member of the Model Risk Management (MRM) Team you will be responsible for overseeing enterprise-wide model risk management and supporting front-line units in handling model risk. MRM provides oversight of day-to-day model risk management activities to identify, measure, monitor, and handle risk related to the design, development, and implementation and use of models. Model Risk Governance (MRG) provides explicit support and structure to risk management functions through policies defining relevant risk management activities, procedures that implement those policies, allocation of resources, and mechanisms for testing that policies and procedures are being carried out as specified.
As an Associate Director in the Operations Management & Assurance (“OM&A”) team, you will be in a high profile position and will work closely with various teams to perform AI/ML model assessment and quality control testing on validation documents. You will have frequent interactions with multiple internal and external partners, including model owners and developers, Product Risk, IT, Management, Clients, EUCA management, Internal Audit, and DTCC Regulators. You will achieve a comprehensive understanding of DTCC’s businesses and be able to apply industry standard processes to DTCC’s business context
Your Primary Responsibilities
Perform quality control review of the following:
Validation and annual review reports to ensure the compliance with requirements Model documentation for new models to ensure that it meets the requirements set forth in the Model Development Standards Model inventory information that is shared with the regulators
Perform hands-on model assessments and reviews
Conduct model assessment review, prepare high quality report, and summary and present finding(s) to the Model Risk Governance Council ("MRGC") Follow-up with Model Owners to resolve assessment findings Help develop and implement programs, processes, and frameworks to provide independent assessment to mitigate risk related to the company's Non-material model management practices. Contribute to efforts in support of scope and priorities for key documentation, communication, training, and business requirements in support of the Model Risk Management framework. Advise on governance, risks, and controls related to Generative AI policies, standards, and procedures. Maintain key documents related to the Non-material model management framework
Maintain, perform, and analyze monthly and quarterly risk reports to support Senior Risk Councils Work with auditors and regulators as needed and provide requested materials expeditiously Complete special projects to be determined by the OM&A Director and MRM’s Senior Leadership Team Maintain procedures, standards, and job aids owned by OM&A NOTE: The Primary Responsibilities of this role are not limited to the details above. **
Qualifications
Master's degree in quantitative finance, mathematics, economics, financial engineering, or other quantitative fields. Minimum of 8 years of related experience, ideally in financial risk model validation, quantitative risk analytics
Talents Needed For Success
Familiar with banking, financial institutions, financial instruments, and market principles Broad knowledge of Artificial Intelligence and Machine Learning (AI/ML) models, particularly the evolving field of Large Language Models (LLM) and Generative AI (Gen AI) models. Technical experience with Excel (VBA), Excel Power Tools, SQL, R, or Python Ability to communicate and present quantitative concepts to financial professionals
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.Seniority level
Seniority levelMid-Senior level Employment type
Employment typeFull-time Job function
Job functionGeneral Business, Management, and Business Development Referrals increase your chances of interviewing at The Depository Trust & Clearing Corporation (DTCC) by 2x Get notified about new Model jobs in
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Model Risk Gov Associate Director
role at
The Depository Trust & Clearing Corporation (DTCC) 2 weeks ago Be among the first 25 applicants Join to apply for the
Model Risk Gov Associate Director
role at
The Depository Trust & Clearing Corporation (DTCC) Get AI-powered advice on this job and more exclusive features. Job Description
Please read the information in this job post thoroughly to understand exactly what is expected of potential candidates.
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. Competitive compensation, including base pay and annual incentive Comprehensive health and life insurance and well-being benefits, based on location 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).
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 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
Being a member of the Model Risk Management (MRM) Team you will be responsible for overseeing enterprise-wide model risk management and supporting front-line units in handling model risk. MRM provides oversight of day-to-day model risk management activities to identify, measure, monitor, and handle risk related to the design, development, and implementation and use of models. Model Risk Governance (MRG) provides explicit support and structure to risk management functions through policies defining relevant risk management activities, procedures that implement those policies, allocation of resources, and mechanisms for testing that policies and procedures are being carried out as specified.
As an Associate Director in the Operations Management & Assurance (“OM&A”) team, you will be in a high profile position and will work closely with various teams to perform AI/ML model assessment and quality control testing on validation documents. You will have frequent interactions with multiple internal and external partners, including model owners and developers, Product Risk, IT, Management, Clients, EUCA management, Internal Audit, and DTCC Regulators. You will achieve a comprehensive understanding of DTCC’s businesses and be able to apply industry standard processes to DTCC’s business context
Your Primary Responsibilities
Perform quality control review of the following:
Validation and annual review reports to ensure the compliance with requirements Model documentation for new models to ensure that it meets the requirements set forth in the Model Development Standards Model inventory information that is shared with the regulators
Perform hands-on model assessments and reviews
Conduct model assessment review, prepare high quality report, and summary and present finding(s) to the Model Risk Governance Council ("MRGC") Follow-up with Model Owners to resolve assessment findings Help develop and implement programs, processes, and frameworks to provide independent assessment to mitigate risk related to the company's Non-material model management practices. Contribute to efforts in support of scope and priorities for key documentation, communication, training, and business requirements in support of the Model Risk Management framework. Advise on governance, risks, and controls related to Generative AI policies, standards, and procedures. Maintain key documents related to the Non-material model management framework
Maintain, perform, and analyze monthly and quarterly risk reports to support Senior Risk Councils Work with auditors and regulators as needed and provide requested materials expeditiously Complete special projects to be determined by the OM&A Director and MRM’s Senior Leadership Team Maintain procedures, standards, and job aids owned by OM&A NOTE: The Primary Responsibilities of this role are not limited to the details above. **
Qualifications
Master's degree in quantitative finance, mathematics, economics, financial engineering, or other quantitative fields. Minimum of 8 years of related experience, ideally in financial risk model validation, quantitative risk analytics
Talents Needed For Success
Familiar with banking, financial institutions, financial instruments, and market principles Broad knowledge of Artificial Intelligence and Machine Learning (AI/ML) models, particularly the evolving field of Large Language Models (LLM) and Generative AI (Gen AI) models. Technical experience with Excel (VBA), Excel Power Tools, SQL, R, or Python Ability to communicate and present quantitative concepts to financial professionals
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.Seniority level
Seniority levelMid-Senior level Employment type
Employment typeFull-time Job function
Job functionGeneral Business, Management, and Business Development Referrals increase your chances of interviewing at The Depository Trust & Clearing Corporation (DTCC) by 2x Get notified about new Model jobs in
Jersey City, NJ . New York, NY $50,000 - $115,000 3 weeks ago New York, NY $105,000 - $115,000 1 week ago Saint-Louis Showroom Intern (2025 Semester 2) - Generation H Newark, NJ $71,000.00 - $100,000.00 4 days ago Quantitative Strategist - Credit - Associate New York, NY $110,000.00 - $150,000.00 1 day ago New York, NY $50,000.00 - $70,000.00 5 days ago Quantitative Strategist - Loans Strat - Associate New York, NY $110,000.00 - $150,000.00 1 day ago New York, NY $80,000.00 - $90,000.00 2 weeks ago Brooklyn, NY $55,000.00 - $85,000.00 4 days ago New York, NY $202,500.00 - $280,000.00 2 weeks ago New York, NY $120,000.00 - $130,000.00 1 week ago New York, NY $90,000.00 - $100,000.00 2 weeks ago Staff Nurse - Cardiac Cath Lab - Mount Sinai Queens - Full Time Day Manhattan, NY $90,000.00 - $130,000.00 3 weeks ago New York, NY $75,000.00 - $225,000.00 5 days ago Software Engineer II | Full Stack Developer Holmdel, NJ $90,000.00 - $125,000.00 1 week ago New York, NY $50,000 - $60,000 10 hours ago New York, NY $130,000 - $175,000 6 days ago New York, NY $70,000 - $110,000 3 weeks ago New York, NY $140,000 - $200,000 1 week ago New York, NY $130,000 - $150,000 1 week ago We’re unlocking community knowledge in a new way. Experts add insights directly into each article, started with the help of AI.
#J-18808-Ljbffr