Ellen Fine Levine has been elected by the Board of Directors of The Depository Trust and Clearing Corporation (DTCC) as Chief Financial Officer.
Levine, 46, is an eight-year veteran of DTCC and its subsidiary, National Securities Clearing Corporation (NSCC), and her promotion to CFO recognizes that she has been substantially performing the tasks of that post in her current position. In her current role as DTCC’s managing director for Finance, Levine has been overseeing major areas of the corporation’s financial activities, including preparation of the budget, analysis of product P&Ls, quarterly and year-end financial reporting, and management of DTCC’s banking relationships. In addition, Levine serves as treasurer of DTCC’s newest subsidiaries, DTCC Deriv/SERV LLC and Global Asset Solutions LLC.
Prior to May 2003, she was responsible for all risk management functions for DTCC and its subsidiaries, a position she had held since 1999, following the formation of DTCC through the integration of NSCC and The Depository Trust Company (DTC).
Levine has played a pivotal role in providing fiscal leadership and reshaping risk management controls at DTCC. These efforts include guiding the way DTCC subsidiaries operate their credit, market, liquidity and other risk management programs, analysis and practices to bring greater safety and soundness to the markets. This has ensured that DTCC has a comprehensive understanding of the exposure that member firms may have across market segments. As part of this effort, Levine also was responsible for creating DTCC’s new operational risk management function, which centralizes and formalizes the company’s management of operational risk, while building on existing practices and programs.
In her new role as CFO, Levine succeeds Richard R. Macek. Macek recently assumed broader management responsibilities at DTCC, to include becoming chief executive officer of two DTCC subsidiaries, Fixed Income Clearing Corporation (FICC) and the Emerging Markets Clearing Corporation (EMCC), as well as overseeing the risk management and finance functions at the company. Levine, whose new position will become effective immediately, will continue to report to Macek.
“Ellen is exceptionally qualified to take on this new position with its increased responsibilities,” says Jill M. Considine, DTCC chairman and chief executive officer. “With her broad background in finance and risk management, she offers us an additional level of senior leadership that positions DTCC well for continued growth in the services and support we provide to our customers-and the industry.”
Levine joined NSCC in 1996 as vice president/director of Membership, Compliance and Risk. She was promoted to managing director, Risk Management and Surveillance in 1998.
Before joining NSCC, she served as director of Credit and Risk Management for Cowen and Co. From 1991-1995, she worked for Mabon Securities Corp. as managing director. And from 1985-1989, she served as treasurer and director of Credit for L.F. Rothschild and Co. Between 1978 and 1985, Ms. Levine held various financial positions, including serving as a senior auditor at Price Waterhouse (now PricewaterhouseCoopers).
Levine is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants, the New York State Society of Certified Public Accountants, and the Securities Industry Association.
She holds an MBA in Finance from New York University’s Stern School of Business and a BS in Accounting from the State University of New York at Albany.