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Quantitative Services Sr Professional - UMR - Chicago, IL

Chicago, Illinois

Job Description:

The Quantitative Services Uncleared Margin Rule (UMR) Senior Professional is a member of the team responsible for maintaining the stability of business processes and controls needed to ensure the firm’s initial margin (“IM”) requirements are accurate and consistent with CFTC & SEC Swap Dealer Regulatory Capital rules. This work is being executed to support of our internal partners in the Regulatory Capital and Enterprise Capital Management teams.

The senior professional will be responsible for various business-as-usual deliverables which must be executed in a timely and accurate fashion and act as the central point of contact for this business process.

The candidate will be expected to be fully versed in the control framework which underpins the business process as well as possess a complete understanding around the technical nature of the initial margin calculation end-to-end infrastructure.

Responsibilities 

  • Oversee the daily control function and monitor key metrics for the UMR BAU space

  • Serve as a point of escalation for other associates in the team with respect to the daily control function

  • Analyze and verify the model inputs required for the IM calculations

  • Identify, document and escalate production errors detected during pre and post-calculation routines

  • Perform periodic controls which exist to prevent and mitigate erroneous IM calculations

  • Work directly with the front office and technology teams on issues discovered through technology testing and daily control procedures

  • Assist with the testing and validation of IM results through each technology release

  • Identify and establish control processes that will mitigate future IM  calculation errors

  • Perform daily and ad-hoc reporting to measure and monitor key metrics for the UMR BAU space

  • Provide enhanced analysis and IM  explains to front office and collateral operations teams when counterparty disputes arise for IM calculations

  • Communicate effectively with all levels of management, across business units as well as externally to customers of the firm.

Enterprise Role Overview:

Leads multiple projects that are significant in scope and impact. Serve as a SME and use that expertise to influence the optimal design and delivery of projects. Expected to lead by influence and drive strategic adoption. Demonstrated progressive growth in skill and responsibilities in various roles. Has extensive professional and functional knowledge developed through financial industry experience. Key responsibilities include: Provide subject matter expertise in process design, tool development or methodology validation ; Design and roll out analytical and technical tools for validations of new models/methodology; Provides guidance and mentoring to junior analysts as needed; Be a solution provider who can leverage the knowledge and experience to deliver a high quality end product; and Understands financial products across all asset classes and has extensive knowledge of technical implementations. Posses advanced degree in physic, applied mathematics, statistics/probability or another heavy quantitative discipline.

Required Skills: (Must have these skills to be minimally qualified)

  • At least 3-4 years of experience working in a quantitative risk, middle office, or front office role

  • Knowledge of Financial Risk Management, Credit Risk Models, Value at Risk (VaR) including market & credit risk

  • Strong technical skills including experience using Excel, VBA and SQL

  • Experience pricing OTC derivative products including futures, options, swaps, credit default swaps, forward rate agreements and swaptions

  • Experience working with OTC derivatives/Fixed Income

  • Excellent communication & analytical skills

  • Ability to document and present complex material in a simple and understandable manner

Desired Skills:

  • Minimum undergraduate in Mathematics, Finance or Quantitative field, master degree or professional certification preferable.

Other Qualifications:

  • Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions.

  • Excels in working among diverse viewpoints to determine the best path forward.

  • Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner.

  • Commitment to challenging the status quo and promoting positive change.

  • Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base.

  • Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world.

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

The Quantitative Services Uncleared Margin Rule (UMR) Senior Professional is a member of the team responsible for maintaining the stability of business processes and controls needed to ensure the firm’s initial margin (“IM”) requirements are accurate and consistent with CFTC & SEC Swap Dealer Regulatory Capital rules. This work is being executed to support of our internal partners in the Regulatory Capital and Enterprise Capital Management teams.

The senior professional will be responsible for various business-as-usual deliverables which must be executed in a timely and accurate fashion and act as the central point of contact for this business process.

The candidate will be expected to be fully versed in the control framework which underpins the business process as well as possess a complete understanding around the technical nature of the initial margin calculation end-to-end infrastructure.

Responsibilities 

  • Oversee the daily control function and monitor key metrics for the UMR BAU space

  • Serve as a point of escalation for other associates in the team with respect to the daily control function

  • Analyze and verify the model inputs required for the IM calculations

  • Identify, document and escalate production errors detected during pre and post-calculation routines

  • Perform periodic controls which exist to prevent and mitigate erroneous IM calculations

  • Work directly with the front office and technology teams on issues discovered through technology testing and daily control procedures

  • Assist with the testing and validation of IM results through each technology release

  • Identify and establish control processes that will mitigate future IM  calculation errors

  • Perform daily and ad-hoc reporting to measure and monitor key metrics for the UMR BAU space

  • Provide enhanced analysis and IM  explains to front office and collateral operations teams when counterparty disputes arise for IM calculations

  • Communicate effectively with all levels of management, across business units as well as externally to customers of the firm.

Enterprise Role Overview:

Leads multiple projects that are significant in scope and impact. Serve as a SME and use that expertise to influence the optimal design and delivery of projects. Expected to lead by influence and drive strategic adoption. Demonstrated progressive growth in skill and responsibilities in various roles. Has extensive professional and functional knowledge developed through financial industry experience. Key responsibilities include: Provide subject matter expertise in process design, tool development or methodology validation ; Design and roll out analytical and technical tools for validations of new models/methodology; Provides guidance and mentoring to junior analysts as needed; Be a solution provider who can leverage the knowledge and experience to deliver a high quality end product; and Understands financial products across all asset classes and has extensive knowledge of technical implementations. Posses advanced degree in physic, applied mathematics, statistics/probability or another heavy quantitative discipline.

Required Skills: (Must have these skills to be minimally qualified)

  • At least 3-4 years of experience working in a quantitative risk, middle office, or front office role

  • Knowledge of Financial Risk Management, Credit Risk Models, Value at Risk (VaR) including market & credit risk

  • Strong technical skills including experience using Excel, VBA and SQL

  • Experience pricing OTC derivative products including futures, options, swaps, credit default swaps, forward rate agreements and swaptions

  • Experience working with OTC derivatives/Fixed Income

  • Excellent communication & analytical skills

  • Ability to document and present complex material in a simple and understandable manner

Desired Skills:

  • Minimum undergraduate in Mathematics, Finance or Quantitative field, master degree or professional certification preferable.

Other Qualifications:

  • Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions.

  • Excels in working among diverse viewpoints to determine the best path forward.

  • Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner.

  • Commitment to challenging the status quo and promoting positive change.

  • Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base.

  • Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21043276

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Kimberly Ravlich

Referral Bonus:

0

Street Address

Primary Location:
540 W Madison St, IL, Chicago, 60661