Embedded Risk Associate Director

Are you ready to make an impact at DTCC?

Do you want to work on innovative projects, collaborate with a dynamic and supportive team, and receive investment in your professional development? At DTCC, we are at the forefront of innovation in the financial markets. We are committed to helping our employees grow and succeed. We believe that you have the skills and drive to make a real impact. We foster a thriving internal community and are committed to creating a workplace that looks like the world that we serve.

Pay and Benefits:

• Competitive compensation, including base pay and annual incentive
• Comprehensive health and life insurance and well-being benefits, based on location
• Pension / Retirement benefits
• Paid Time Off and Personal/Family Care, and other leaves of absence when needed to support your physical, financial, and emotional well-being.
• DTCC offers a flexible/hybrid model of 3 days onsite and 2 days remote (onsite Tuesdays, Wednesdays and a third day unique to each team or employee).

The Impact you will have in this role:

Being a member of Clearing & Security Services team, the Embedded Risk Manager strengthens the role of the first line of defense by challenging product management and general management of risks, including its effort to identify, assess, respond to, and report and monitor risks. In this role, the Risk Manager challenges management's assessment of internal control effectiveness by ensuring management's adherence to Control testing framework, Issue management framework (including self-identified issues), and Identified issues resulting from audits or regulatory exams, and partners with management on risk response strategies (mitigate, control, accept, remediate, etc.) to ensure the strategies sufficiently address identified risks, whether internal or external.

Primary Responsibilities:

• Serve as a strategic first-line risk partner to Business and Product Management, providing independent-minded review and challenge while helping management identify, assess, monitor, mitigate and communicate risks across the business.
• Lead and coordinate Risk and Control Self-Assessments (RCSAs) for assigned businesses, partnering with Risk Family SMEs and Aligned Risk Management to assess risk applicability, inherent risk, control effectiveness and residual risk; challenge ratings and supporting rationale and drive assessments through business-owner review and approval.
• Lead Comprehensive Program Risk Assessments (CPRAs) and other change-risk assessments for strategic initiatives, modernization programs, new products/services and significant business or technology changes, ensuring emerging and changing risks are appropriately identified and incorporated into the business risk profile.
• Monitor and assess the business risk profile, integrating information from risk incidents, issues and actions, control performance, audits, regulatory matters, risk assessments, business changes and strategic initiatives to identify emerging risks, concentrations and trends requiring management attention.
• Provide effective review and challenge of risk incidents and control breakdowns, including assessment of root cause, business/client impact, control alignment, recurring themes and potential implications to the broader risk and control environment.
• Oversee the Issue and Action lifecycle, including identification and development of self-identified issues, remediation-plan adequacy, milestone monitoring, escalation of at-risk items, closure-package review and sustainability considerations.
• Review and challenge the Process, Risk and Control framework, including control design, control mappings, control testing results and other GRC data to ensure risks and controls remain appropriately represented and supported.
• Lead ERM engagement for internal and external audits, coordinating business readiness and information requests, identifying potential risk or control concerns, supporting development of Management Self-Identified Issues where appropriate, and monitoring remediation of resulting findings.
• Coordinate business risk governance and senior-management reporting, including quarterly risk meetings, risk-tolerance assessments, executive risk reporting and other governance forums; synthesize complex risk information into clear themes, decisions and areas requiring management attention.
• Provide risk oversight and coordination across enterprise risk programs and regulatory obligations, including regulatory reporting, business continuity/resiliency, third-party risk, model risk, EUCAs, clearing agency/link risk reviews and other applicable enterprise risk frameworks.
• Partner across the first, second and third lines of defense, acting as the primary risk liaison among Business Management, Risk Family SMEs, Aligned Risk Management, Compliance, Audit and other control functions to resolve risk matters and ensure appropriate escalation and accountability.
• Drive continuous improvement and consistency across ERM practices, identifying opportunities to standardize risk processes, improve reporting and governance, strengthen documentation and make ERM activities more efficient and scalable.

Qualifications:

• Minimum of 8 years of related experience
• Bachelor's degree preferred or equivalent experience

Talents Needed for Success:

• AI & Digital Mindset (Key Differentiator)
• Familiar with Risk and Control Self-Assessments (RCSAs), including risk identification, inherent and residual risk assessment, control design evaluation, and challenge of risk ratings
• Inclination toward AI-driven risk insights, automation, and data-led decision-making
• Ability to leverage data for trend analysis, predictive risk identification, and reporting optimization
• Prior experience in Risk Management & Incident Management
• Experience with stakeholder management and influencing senior leadership
• Knowledge of issue lifecycle management, audits, and control frameworks
• Be a change ambassador and drive forward improvements
• Proactive and laser focused on cultivating a risk mentality
• Execution and delivery focused in a fast-paced environment
• Financial services business acumen, with the ability to understand supported business areas, critical services, and client impacts, and to align risk assessments to business

The salary range is indicative for roles at the same level within DTCC across all US locations. Actual salary is determined based on the role, location, individual experience, skills, and other considerations. We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.