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Associate Principal, Quantitative Risk Management - Job Opportunity at Options Clearing Corporation

Chicago, USA
Full-time
Senior
Posted: March 31, 2025
Hybrid
USD 110,500 - 195,900 per year

Benefits

Hybrid work arrangement with 2 days remote flexibility
Competitive tuition reimbursement program supporting advanced education
Progressive student loan repayment assistance program
Technology stipend for remote work enablement
Comprehensive PTO and parental leave policies
401(k) with employer matching
Full medical, dental and vision coverage

Key Responsibilities

Lead development and maintenance of sophisticated risk models for margin calculation and stress testing
Drive model innovation through prototype development and implementation using industry best practices
Conduct comprehensive model validation and performance analysis through backtesting and quality assurance
Provide strategic quantitative analysis support for risk management decision-making
Collaborate cross-functionally to enhance model effectiveness and integration

Requirements

Education

Master's degree or equivalent in quantitative field (computer science, mathematics, physics, finance/financial engineering)

Experience

4+ years of experience in quantitative finance and/or model development

Required Skills

Financial mathematics expertise Econometrics and data analysis proficiency Numerical methods and optimization knowledge Risk management methodology expertise Financial derivatives knowledge Model development capabilities Problem-solving skills Technical documentation proficiency SQL and database technology experience Python, R or MATLAB programming Microsoft Office suite proficiency

Certifications

FRM or CFA preferred but not required
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Sauge AI Market Intelligence

Industry Trends

Increasing regulatory focus on risk management systems at SIFMUs is driving demand for sophisticated quantitative talent Growing complexity in derivatives markets requires advanced modeling capabilities and real-time risk assessment Integration of machine learning with traditional financial models is becoming industry standard Cloud computing and big data technologies are reshaping quantitative risk infrastructure

Salary Evaluation

The offered salary range of $110,500-$195,900 is competitive for senior quantitative roles in Chicago, particularly with the additional bonus potential of 8-15%. Top performers could expect total compensation approaching $225,000.

Role Significance

Typically part of a specialized team of 5-10 quantitative professionals within larger risk management organization
Senior individual contributor role with significant model development authority and strategic input into risk management frameworks

Key Projects

Development and implementation of new margin calculation models Enhancement of stress testing frameworks for clearing operations Integration of machine learning techniques into existing risk models Creation of automated testing and validation frameworks

Success Factors

Deep understanding of both theoretical and practical aspects of financial mathematics Ability to bridge quantitative expertise with business requirements Strong communication skills to explain complex models to diverse stakeholders Proven track record in model development and implementation

Market Demand

Very high demand, particularly given the specialized nature of derivatives clearing and risk management expertise required. Market volatility and regulatory requirements continue to drive strong hiring in this sector.

Important Skills

Critical Skills

Financial mathematics and derivatives pricing expertise critical for model development Risk management methodology knowledge essential for stress testing and margin calculations Programming skills crucial for model implementation and testing

Beneficial Skills

Machine learning knowledge for future model enhancement Cloud computing experience for scalable solutions Business communication skills for stakeholder management

Unique Aspects

Role at SIFMU offers unique exposure to systemic risk management
Direct impact on global derivatives market stability
Combination of theoretical modeling and practical implementation requirements

Career Growth

2-4 years in role typically required before advancement to principal level, with potential for faster progression based on impact

Potential Next Roles

Principal Quantitative Risk Manager Head of Model Development Director of Quantitative Research Chief Risk Officer

Company Overview

Options Clearing Corporation

World's largest equity derivatives clearing organization, operating as a systemically important financial market utility

Industry leader in derivatives clearing with significant regulatory oversight and market influence
Headquartered in Chicago with strong presence in global financial markets
Professional environment with strong emphasis on risk management, compliance, and technical excellence
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