Principal, Quantitative Risk Management

What You'll Do:This role is responsible for leading project development, implementation, testing and maintenance of models used for margin, clearing funds and stress testing. The range of responsibilities varies depending on his/her focus within QRM, that includes research and development of significant model features, leading prototype development and testing, designing tools for model performance monitoring, managing or providing technical leadership for model prototypes, implementing and supporting integration of model code library into OCC risk systems. This role will work closely with risk managers in Financial Risk Management and partners in other areas, including Information Technology, Model Validation, and Compliance.Primary Duties and Responsibilities:To perform this job successfully, an individual must be able to perform each primary duty satisfactorily.Lead, support and review development and implementation of models for pricing, margin risk and stress testing of financial products and derivativesProvide analysis of new products and support their implementation at OCCResearch and present model alternatives based on academic literature, industry best practices, data analysis and model prototypingProduce high quality whitepapers and technical documentation following QRM’s procedures and templatesDevelop standards, procedures and tools for model performance monitoring and communicate results to peers and leadershipLead and direct implementation of the model development tools in QRM supporting model analysis and backtestingLead and direct implementation of the model analytics in the QRM LibraryPartner with IT and other departments delivering QRM analytics to productionProvide production support, participate in troubleshooting and analysis of model, system and data issuesLead remediation of Model Validation or regulatory findingsPrepare and present materials supporting management and regulatory inquiriesProvide intellectual leadership promoting innovation and learningSupervisory Responsibilities:NoneQualifications:The requirements listed are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the primary functions.[Required] Financial mathematics (derivatives pricing models, stochastic calculus, statistics and probability theory, advanced linear algebra)[Required] Econometrics, data analysis (e.g., time series analysis, GARCH, fat-tailed distributions, copula, etc.) and machine learning techniques[Required] Numerical methods and optimization, Monte Carlo simulation and finite difference techniques[Required] Risk management methods (value-at-risk, expected shortfall, stress testing, backtesting, scenario analysis)[Required] Financial products knowledge: seasoned level in understanding of markets and financial derivatives in equities, interest rate, and commodity products[Required] Seasoned level in programing skills[Required] Advanced proficiency in using a programming language (e.g., Java, C++, Python, R, MATLAB, etc.) in a collaborative software development setting. Model development and prototyping require advanced development skills in Python and data mining[Required] Strong problem-solving skills and be able to accurately identify a problem's source, severity, and impact to determine possible solutions and needed resources[Required] Ability to challenge model methodologies, model assumptions, and validation approach[Required] Seasoned level in technical and scientific documentation (e.g., whitepapers, user guides, etc.)Technical Skills:[Required] Expert in database technology, query languages (such as SQL), and efficient storage and serialization protocols[Required] For model development and prototyping role: expert in a scripting language such as Python, R or MATLAB[Required] Experience with numerical libraries and/or scientific computing including numerical optimizers (e.g. NAG, MATLAB)[Required] Experience with automated testing frameworks (e.g., Junit, TestNG, PyTest, etc.)[Required] Experience with CI/CD and DevOps tools (e.g., Git, GitHub and various profiling and telemetry tools) is required for model implementation and application development[Required] Experience with high performance computing, distributed computation engines and cloud computing[Required] Seasoned level in office technology such as PowerPoint, Confluence, Latex, Word, and ExcelEducation and/or Experience:[Required] Master’s degree or equivalent in a quantitative field such as computer science, mathematics, physics, finance/financial engineering[Preferred] PhD degree in one of the above fields[Required] 10+ years of experience of quantitative research and/or model implementation in finance[Required] 2+ years of experience in leading projectsCertificates or Licenses:[Required] 2+ years of experience in leading projectsAbout UsThe 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 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 2 days per week of remote workTuition Reimbursement to support your continued educationStudent Loan Repayment AssistanceTechnology Stipend allowing you to use the device of your choice to connect to our network while working remotelyGenerous PTO and Parental leave 401k Employer MatchCompetitive health benefits including medical, dental and visionVisit for more pensationThe salary range listed for any given position is exclusive of fringe benefits and potential bonuses. If hired at OCC, your final base salary compensation will be determined by factors such as skills, experience and/or education. In addition, we believe in the importance of pay equity and consider internal equity of our current team members as part of any final offer. We typically do not hire at the maximum of the range in order to allow for future and continued salary growth. We also offer a substantial benefits package as noted on All employees may be eligible for a discretionary bonus. Discretionary bonuses are based on various factors, including, but not limited to, company and individual performance and are not guaranteed.Salary Range$177,300.00 - $288,400.00Incentive Range23% to 30%This position is eligible for an annual discretionary incentive compensation award, for which the target range is listed above (see Incentive Range). The amount of such award, if any, will be based on various factors, including without limitation, both individual and company performance.Step 1

Created: 2026-05-15