Associate Director- ERM (Risk Management)

Chicago Mercantile Exchange Inc. (CME) is the largest futures exchange in the United States and the second largest exchange in the world for the trading of futures and options on futures. As a marketplace for global risk management, our exchange brings together buyers and sellers of derivatives products, which trade on our trading floors, on our GLOBEX electronic trading platform and through privately negotiated transactions. Futures and options provide a way to protect against — and profit from — price changes in financial instruments and physical commodities. In addition, we own our own clearing house and are able to guarantee, clear and settle every contract traded through our exchange. Founded as a not-for-profit corporation in 1898, we became the first publicly traded U.S. financial exchange in December 2002 when the Class A shares of our parent company, Chicago Mercantile Exchange Holdings Inc., began trading on the New York Stock Exchange under the ticker symbol CME. CME has four major product areas: interest rates, stock indexes, foreign exchange and commodities. In 2002, a record 558.4 million contracts with an underlying value of $328.6 trillion changed hands at CME, representing the largest notional value traded on any futures exchange in the world. In addition, we move about $1.8 billion per day in settlement payments and manage $27.4 billion in collateral deposits.Department: Finance/Accounting/Internal AuditSchedule: M-FJob Description:
This highly visible leadership position will implement an enterprise level risk management process and provide assurance that practices are in place to identify, evaluate, measure and monitor all types of risk across CME. The position will partner with risk owners throughout the company and establish strong relationships within every division. The initial mandate for the position will be to: Facilitate assessments with risk owners across the company. Develop and manage a harmonized risk reporting process. Report on risk management practices to Senior Management and the Board of Directors.
Major Responsibilities: Provide strategic and tactical leadership to the Risk Management Team. Conduct regular meetings to facilitate the exchange of ideas and best practices across the organization. Coordinate with other risk functions such as Compliance and Internal Audit in developing the company’s risk management program. Build relationships with all Divisions to foster a controlled environment and convey the importance of risk management to all levels of the organization. Work with Senior Management to document, quantify and report on key risks. Help establish policies, practices and controls, including measurement and reporting systems, with the goal of identifying and communicating top tier risks. Work with all levels of management to develop and implement solutions across various segments and businesses. Assist with the roll-out of corporate oversight initiatives and with risk policy development; respond to audit/regulatory/legal reviews. Consult with multiple constituencies, such as internal/external auditors, Corporate Legal, Corporate Security, Information Technology and Clearing House Risk Management, in providing advice, establishing best practices and minimizing risk exposure.
We know that our employees play a key role in the success of our company. They take pride in their work and are committed to a job well done. We, in turn, are committed to our employees and compensate their dedication with competitive pay and benefits package. Some of our benefits include: Medical and Dental Plans Retirement Plans Tuition Assistance Program Life and AD&D Plans Income Assistance Program
REQUIREMENTS
Bachelor’s degree required. Advanced degree and/or professional certification(s) preferred. Minimum of 10 years experience acquired in a combination of risk management, information systems, operations, audit or consulting roles. Broad knowledge of oversight areas including audit, legal/compliance, security, and risk management. Ability to prepare and deliver planned and ad hoc presentations up to the senior management and Board level. Excellent written and oral communications. Required Skills and Key Success Factors: Program and project leadership/management skills, launching company-wide initiatives is required. Listening Skills: Practices attentive and active listening. Ability to accurately restate the opinions of others. Excellent relationship management, communication and influence skills. Strong leadership capabilities and ability to achieve alignment and effect change. Excellent negotiation skills and a keen ability to influence in order to drive the implementation of initiatives in environments where there are many competing demands for resources. Ability to communicate with and influence senior level management. Excellent judgment. Good analytical skills, to include development of required metrics and reporting. Demonstrated ability to stay current with industry trends. Strong motivational, coaching and development abilities. Other Desirable Attributes: Financial services experience. Proven track record of working cross-functionally. Experience in the development and implementation of enterprise wide risk management or similar programs for financial institutions.