Quantitative Jobs in Chicago, IL

To be considered for this position, applications and resumes are accepted only through our careers site by directly applying to the posted job. We do not accept unsolicited resumes or sales solicitations from staffing agencies. Any OCC employee wishing to submit a referral must do so through their Workday account. Any resume submitted outside of an active job posting will not be considered for employment.

What You'll Do:

The Associate Principal is responsible for one or more functions within Quantitative Risk Management (QRM) to develop and maintain model performance monitoring. The Senior Associate 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 monitoring implementation and testing, including portfolio back-testing using historical data.

• Review implementation of model monitoring metrics and algorithms focusing on requirement verification, coding, and testing quality.

• Write and review documentations for model monitoring metrics, prototypes and implementation.

• 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

• Develop Python scripts with Pandas and object-oriented programming to automate data processing

• Conduct visualization and exploratory analysis using advanced statistical methods

• Participate in model performance monitoring code reviews and troubleshooting

• 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 accommodation may be provided 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 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 require advanced development skills in Python and database manipulation.

• [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.).

Technical Skills:

• [Required] Experience in a scripting language such as Python is required.

• [Required] Experience in office technology such as PowerPoint, Confluence, Jira, 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] Experience with Tableau, Dash and Alteryx

• [Preferred] Experience with numerical libraries and/or scientific computing is preferred.

• [Preferred] Experience with automated quality assurance frameworks for model testing is preferred.

• [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.

• [Required] 2 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.

About Us

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.

Benefits

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 2 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
• 401k Employer Match
• Competitive health benefits including medical, dental and vision

Visit https://www.theocc.com/careers/thriving-together for more information.

Compensation

• The 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 www.theocc.com/careers
• 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

Incentive Range

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
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