OCC
We clear and settle trades for the options industry.
Chicago, IL

Associate Principal, Quantitative Risk Management (Chicago, IL)

| Chicago
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Who We Are
The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms. More information about OCC is available at www.theocc.com.
What We Offer
A highly collaborative and supportive environment developed to encourage work-life balance and employee wellness. Some of these components include:
A hybrid work environment, up to 3 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
Competitive health benefits including medical, dental and vision
What You'll Do
The Associate Principal is responsible for one or more functions within Quantitative Risk Management (QRM) to develop and maintain model analytics and performance monitoring. The Associate Principal will collaborate with other quantitative analysts, business users, data & technology staff, and model validation colleagues to implement new analytics and enhance existing tools.
Essential Duties and Responsibilities:
To perform this job successfully, an individual must be able to perform each assigned essential duty satisfactorily:
  • Maintain and build data models to ensure information is available in our analytics warehouse for downstream uses, such as analysis and dashboard development
  • Perform model performance testing, including portfolio back-testing using historical data.
  • Support the launch of new products by enhancing monitoring capabilities.
  • Create documentation and testing to ensure data is accurate and easily understandable
  • Discover and share best practices for data and analytics engineering with members of the team
  • Invest in your continued learning on data and analytics engineering best practices and evaluate them for fit in improving maintainability and reliability of analytics infrastructure
  • Assist analysts in solving their analytics questions/challenges

Supervisory Responsibilities:
  • N/A

Qualifications:
The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions:
  • The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions:
  • [Required] Strong programing skills. Able to read and/or write Python code in a collaborative software development setting.
  • [Required] Experience with Tableau and Alteryx
  • [Required] Experience with a source code repository system (preferably Git)
  • [Required] Ability to write and optimize complex analytical (SELECT) SQL queries
  • [Required] Ability to collaborate with multiple partners (e.g., DBAs, Data Architecture, Security) to craft solutions that align business goals with internal security and development standards
  • [Required] Comfortable supporting business analysts on high-priority projects.
  • [Required] High attention to detail and ability to think structurally about a solution
  • [Required] Strong problem-solving skills: Be able to accurately identify a problem's source, severity, and impact to determine possible solutions and needed resources.
  • [Preferred] Exposure to data orchestration tools, such as Airflow
  • [Preferred] Understanding of applied statistics and hands-on experience applying these concepts
  • [Preferred] Strong quantitative skills, ability to demonstrate deep understanding in the following technical areas:
    • 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.) and machine learning techniques
    • 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.
  • [Preferred] Model development and prototyping requires advanced development skills in Python and database manipulation.
  • [Preferred] Model implementation requires advanced Java programming ability and a demonstrated ability in developing and maintaining enterprise level software.
  • [Preferred] Ability to challenge model methodologies, model assumptions, and validation approach.
  • [Preferred] Proficiency in technical and scientific documentation (e.g., white papers, user guides, etc.).
  • [Preferred] Experience in Agile/SCRUM framework.

Technical Skills:
  • [Required] Experience with Tableau and Alteryx
  • [Required] Experience in a scripting language such as Python is required.
  • [Required] Experience in office technology such as PowerPoint, Confluence, Latex, Word, and Excel.
  • [Required] Experience with code repository, build and deployment tools (e.g., Git, GitHub, Jenkins).
  • [Required] Proficiency in database technology and query languages (such as SQL). Non-relational DB and other Big Data, cloud-based computing experience is a plus.
  • [Preferred] Proficiency in Java is required for model implementation (Java 8 or later).
  • [Preferred] Experience with numerical libraries and/or scientific computing is required.
  • [Preferred] Experience with automated quality assurance frameworks is required (e.g., Junit, TestNG, Selenium, etc.) for model testing.
  • [Preferred] Software design: effective application of design patterns, expertise in object-oriented design
  • [Preferred] Experience with high performance computing is a plus.

Education and/or Experience:
  • [Required] Master's degree or equivalent in a quantitative field such as data analytics, computer science, mathematics, physics, finance/financial engineering. PhD preferred.
  • [Required] Two to seven years of experience in data analytics required
  • [Preferred] Experience in areas in finance and/or development experience in model implementation and testing.

Certificates or Licenses:
  • FRM, CFA, etc., are desirable, but not required.

Step 1
When you find a position you're interested in, click the 'Apply' button. Please complete the application and attach your resume.

Step 2
You will receive an email notification to confirm that we've received your application.

Step 3
If you are called in for an interview, a representative from OCC will contact you to set up a date, time, and location.

For more information about OCC , please click here .
OCC is an Equal Opportunity Employer
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Where we are

Adjacent to the Willis Tower, close to CTA, Metra and expressways with plenty of food and entertainment options nearby.

Technology we use

  • Engineering
    • .NETLanguages
    • C#Languages
    • C++Languages
    • JavaLanguages
    • JavascriptLanguages
    • PerlLanguages
    • PythonLanguages
    • RLanguages
    • RubyLanguages
    • ScalaLanguages
    • SqlLanguages
    • SwiftLanguages
    • ReactLibraries
    • AngularJSFrameworks
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What are OCC Perks + Benefits

OCC Benefits Overview

Educational Assistance and Student Debt Forgiveness, 12-week paid parental leave, technology stipend up to $2,000, mobile data reimbursement of $35 per month. Open offices, online health coaching.

Culture
Volunteer in local community
Each year, OCC employees select a locally-based charitable organization for each of our three offices (Chicago, Dallas and Washington, D.C.). We offer multiple opportunities to get involved.
Partners with Nonprofits
OCC Partners with local organizations in Dallas, Chicago and DC to raise funds and support their missions. Employees select the charity and are eligible for up to 8 hours of paid time to volunteer.
Friends outside of work
Daily sync
Open door policy
Team owned deliverables
Team based strategic planning
Open office floor plan
Diversity
Dedicated Diversity/Inclusion Staff
Unconscious bias training
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
Disability Insurance
Dental Benefits
Vision Benefits
Health Insurance Benefits
Life Insurance
Wellness Programs
Mental Health Benefits
Retirement & Stock Options Benefits
401(K)
401(K) Matching
OCC provides employees with a 401(k) matching plan managed by Fidelity. We match 50% of contributions up to 6% of an employee's annual gross pay.
Performance Bonus
Match charitable contributions
Child Care & Parental Leave Benefits
Flexible Work Schedule
OCC provides employees with a flexible work schedule that includes Flexible start and end times.
Vacation & Time Off Benefits
Generous PTO
OCC employees receive between 22 and 32 days per year of paid time off based on years of service.
Paid Volunteer Time
Sabbatical
Eligible employees get 30 days of paid sabbatical after their first 10 years of working at the company.
Paid Holidays
Paid Sick Days
Perks & Discounts
Casual Dress
Commuter Benefits
OCC Offers pre-tax commuter benefits for employees in Chicago and Washington, D.C.
Happy Hours
Relocation Assistance
OCC offers relocation assistance which varies based on the position level and location.
Professional Development Benefits
Job Training & Conferences
OCC offers employees professional development opportunities including onsite training courses and the ability to attend job related certification courses, conferences and seminars.
Tuition Reimbursement
Our tuition reimbursement plan offers an annual max of $1000.
Lunch and learns
OCC hosts leadership lunches on a regular basis so you can learn about your colleagues and their unique backgrounds.
Cross functional training encouraged
Promote from within
Online course subscriptions available
Customized development tracks
Paid industry certifications
Employees are strongly encouraged to stay current in relevant technologies and supports certification programs.

Additional Perks + Benefits

We were just recognized as a best place to work for working parents! Take a look at our blog post here: https://www.theocc.com/Newsroom/Views/2021/04-26-OCC-Designated-as-Best…

An Insider's view of OCC

What are some social events your company does?

Monthly happy hours and cultural celebrations to honor our diverse workforce.

Andre

Executive Director, Talent Acquisition

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