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Chief Risk Officer & Director of Clearing

📁
Operations
📅
R-03166 Requisition #

Job Purpose

The Chief Risk Officer (CRO) and Director of Clearing is responsible for the oversight of the clearinghouse risk and operations for ICE NGX Canada Inc. (ICE NGX), an exchange and clearinghouse for the North American energy markets and a wholly-owned subsidiary of Intercontinental Exchange, Inc. (NYSE: ICE).  The CRO is a key part of ICE NGX’s senior management and provides a leadership role in the company.  The CRO oversees the clearinghouse team and is ICE NGX’s lead for clearing, risk, and financial settlement functions. 

Responsibilities

  • Oversee the clearinghouse risk management and operations in accordance with regulatory requirements, the internal risk appetite, and corporate policies.
  • Manage, develop, and lead the clearing, risk, and financial settlement team.
  • Ensure that clearinghouse risks and exposures are identified, quantified, and properly managed.
  • As a member of the senior management team, you will contribute to the overall strategic direction of the company, support growth opportunities, and collaborate effectively to achieve our corporate objectives.
  • Ensure that internal and external clearinghouse reporting requirements are met in a proficient and timely manner.
  • Ensure clearinghouse risks and mitigants are clearly communicated to applicable ICE and ICE NGX senior management, the Risk Committee and Board (as applicable), and external parties as required.
  • Provide direction the technology team with respect to the development and maintenance of the risk, clearing, and settlement system functionality.
  • Interact and communicate with clearing members to ensure clearinghouse requirements are well understood and members’ issues are addressed.
  • Manage clearinghouse external support providers including bank, custodian, and insurance entities.
  • Ensure coordination of clearinghouse functions with ICE global risk, enterprise risk management, credit, legal, compliance, and treasury groups.
  • Responsible for coordinating and managing Risk Committee meetings and contributing to Board meeting materials.
  • Maintain sound knowledge of applicable clearinghouse regulations and ensure communications, reporting, and adherence to requirements are met in a timely and proficient manner.  
  • Develop and maintain policies and procedures that govern the clearinghouse risk management and operations functions and are consistent with ICE global clearinghouse standards.

Knowledge and Experience

Due to the breadth and complexity of the role, the experience and knowledge required is broad.  The role is external and internal facing in relation to risk, clearing and settlement matters.  The individual will require senior level experience and have the ability to ensure that the clearinghouse is operating in accordance with all corporate policies, risk tolerances, and regulatory requirements.

  • Bachelor degree in a quantitative field. Graduate degree preferred (MBA/MS/PhD)
  • Minimum 10 years’ experience in risk management for derivative products.  Clearinghouse experience beneficial.
  • Must have experience working in a management capacity and must have experience running a team
  • Extensive hands-on knowledge of market risk models applied in clearing (VaR, stress testing, liquidity and concentration risk measures, etc.)
  • Must possess excellent interpersonal and communication skills and be able to articulate complex concepts to senior management, the NGX risk committee, NGX board, clearing participants and regulators
  • Must be able to work both independently and as part of a broader team
  • Must be willing to work both hands on and in a management capacity
  • Well versed in commodity markets, particularly within the energy sector
  • Knowledge of commodity, futures, and derivative regulatory landscape
  • A reputation for impeccable integrity and professional ethics
  • Strong presentation development and delivery skills  
  • Must be willing to travel (not extensive)
  • Ability to manage multiple projects and work in a fast-paced environment with competing priorities

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