Manager, Quantitative Risk Management

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About ABN AMRO Clearing USA LLC:

ABN AMRO Clearing USA LLC (AAC-USA) is a subsidiary of ABN AMRO Clearing Bank N.V. (AACB) We are a global clearing firm that provides an integrated suite of financial services to professional trading participants in the global financial market.

The core service offering consists of clearing, execution, settlement, and stock borrowing and lending. AAC-USA has a Global Reach through direct and indirect clearing memberships to over 90 of the world’s leading exchanges. Our international network provides comprehensive market access to exchange-listed instruments such as stocks, futures, and options. ABN AMRO Clearing USA LLC-Member FINRA, NFA, FIA and SIPC.

Job Overview

Job Overview:

The Manager, Quantitative Risk Management is part of an international team of risk and modeling professionals. This role reports regionally to the Chief Risk Officer of AAC-USA and globally to the Global Head of Quantitative Risk Management. In collaboration with both local and global team members, the position involves developing creative and innovative solutions for the business and its clients. Cooperation with IT and various risk teams is essential, working in an agile environment to organize, develop, and implement solutions within IT systems.

The Manager, Quantitative Risk Management plays a critical role in enabling AACB to make informed, data-driven decisions. This position oversees the development and maintenance of risk models and data frameworks, while also providing mentorship and business expertise to team members during model development and enhancement. The role is accountable for achieving key project objectives through collaboration with colleagues from diverse risk backgrounds.

This position is based in our Chicago office and requires a min of 3 days per week onsite in office.

Job Responsibilities

Job Responsibilities:

• Manage 1 locally based team member with potential for further growth
• Provide out of the box solutions to improve the current existing client market risk model
• Work closely together with local risk managers, QRM colleagues from other locations and IT Risk Cluster to understand the stakeholder needs and to improve the current risk model and data input and output
• Identify data related issues and work with the data owners to address said issues to improve data quality feeding the risk systems
• Develop analytical tools complementing the existing client market risk model in order to capture risks not properly reflected by the current model
• Regular back-testing of the client market risk model to signal potential model deficiencies.
• Perform regular model monitoring and review activities to ensure the model performs as expected
• Investigate other risk and pricing models that might perform better for certain asset classes / products than our currently applied methodologies
• Collaborate with other risk teams within the global organization to align capabilities within AACB
• Maintain a good working relationship with the model validation department to ensure that all model risks are managed adequately

Basic Qualifications

Basic Qualifications:

• 7+ years of experience in market risk model development or validation (e.g., VaR, Expected Shortfall, Monte Carlo)
• Master’s in a quantitative field (e.g., Econometrics, Mathematics, Statistics, or Quantitative Finance)
• Strong knowledge of financial markets, instruments (stocks, bonds, derivatives), and clearing processes
• Expertise in derivative pricing models (e.g., Black-Scholes, Binomial) and volatility modeling
• Proven experience managing and mentoring direct reports
• Proficient in Python; familiarity with C++, SQL, Tableau, and Dataiku is a plus
• Skilled in handling large datasets; proficient in Microsoft Office
• Interest in AI and Machine Learning is advantageous
• Detail-oriented, organized, and capable of managing multiple projects
• Excellent communication skills; able to explain complex risk concepts clearly
• Proactive problem-solver with a collaborative mindset and relationship-building skills
• Team player who takes initiative and motivates others

Preferred Qualifications

Preferred Qualifications:

• Affinity with Artificial Intelligence and Machine Learning

Annual base salary, not including discretionary bonus eligibility: $150,000+

Perks and Benefits

Perks and Benefits:

As a global leader in financial services, we rely on our employees to deliver their best work for our clients. We invest in our employees by offering a host of benefits and perks.

• Flexible hybrid work schedules (generally a minimum of three days per week onsite) with a one-time stipend to help improve hybrid working capabilities
• Generous paid time off, sick days, market-based holiday schedule, sabbatical leave, parental/bonding leave plan and volunteer day off
• Competitive health benefit offerings, including choice of medical plans through BCBS-IL, dental plan, vision and flexible spending accounts
• Complimentary annual…