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FRGs mission is to provide effective and productive identification, measurement, monitoring and control of market, liquidity Stress Testing related to the clearing and settlement processes for DTCC, its members and the markets. In addition, FRG provides critical governance and quality assurance capabilities for key risk functions that are designed to meet rigorous organizational and regulatory standards. FRG works under delegated authority from the Board and senior management to manage these risks within defined risk tolerances, as approved by the Board and senior management. FRG collaborates closely with Quantitative Risk Management and the Counterparty Credit Risk teams to maintain an integrated and comprehensive approach to financial risk management at DTCC to support an effective second line of defense. FRGs prime directive for DTCC''s applicable clearing agencies and joint ventures consists of the following:
Maintain sufficient collateral to cover any losses associated with the liquidation of any defaulting member or family portfolio under extreme but plausible scenarios; Ensure that sufficient liquidity resources are available so that each entity is able to settle all transactions as contracted in the event of a failure by the single largest member or family under extreme but plausible circumstances; Exercise continuous improvement of policies, procedures and processes that support robust, ongoing member surveillance and effective but appropriate response to distress events; and Manage FRG to maintain a deep and broad product knowledge and risk framework to effectively measure and manage market, liquidity and credit risks. Market Risk for Fixed Income Clearing Corporation (FICC) and National Securities Clearing Corporation (NSCC) is responsible for the monitoring of daily margin calculation and managing market and liquidity risk exposures arising from trade execution and settlement activities in the clearing corporations
📌 Market Risk Director (Chennai)
🏢 DTCC
📍 Chennai