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Executive Director, Financial Risk Oversight

COVID-19    

All OCC employees are required to disclose their COVID-19 vaccination status to OCC’s Human Resources department, and provide acceptable proof of vaccination status, as applicable. In addition, OCC requires employees who enter one of its offices to be fully vaccinated against COVID-19 or submit to regular testing as a condition of employment, subject to reasonable accommodation.

Who We Are     
The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms. More information about OCC is available at www.theocc.com.

What We Offer
A highly collaborative and supportive environment developed to encourage work-life balance and employee wellness. Some of these components include: 
A hybrid work environment, up to 3 days per week of remote work
Tuition Reimbursement to support your continued education
Student Loan Repayment Assistance
Technology Stipend allowing you to use the device of your choice to connect to our network while working remotely
Generous PTO and Parental leave 
Competitive health benefits including medical, dental and vision


Primary Duties and Responsibilities: 
To perform this job successfully, an individual must be able to perform each primary duty satisfactorily.    

•    Provide independent oversight and challenge of OCC’s margin, stress, collateral, liquidity, and clearing fund measures produced by Financial Risk Management and the uses of those measures in internal and regulatory reporting
•    Recommend revisions to OCC’s Risk Appetite and accompanying Risk Tolerance measures (e.g., key risk indicators) with respect to financial risk management, including development of reporting to monitor trends
•    Assists the MD of Strategic Risk and Chief Risk Officer (CRO) in re-evaluating the appropriateness of the Framework governing financial risk management and risk measures relative to internal and external conditions
•    Draw conclusions, provide independent insights and advise the MD of Strategic Risk and CRO in risk decisioning by utilizing risk reports which measure information against Board approved risk tolerances, risk appetites, and risk trending analyses
•    Build positive and collaborative working relationships and partnerships with senior management across OCC and engage in advisory and effective challenge activities
•    Manage ad-hoc requests from senior management and regulators to ensure timely and accurate responses
•    Remain current with industry financial risk, regulatory areas of focus, and analytical reporting trends
    
Supervisory Responsibilities:    

•    Potentially up to three staff members
    
Qualifications: 
The requirements listed are representative of the knowledge, skill, and/or ability required.  Reasonable accommodations may be made to enable individuals with disabilities to perform the primary functions.    

•    Understanding of OCC products and services and subject matter expertise in margin, stress, collateral, liquidity risk, default management, and clearing fund
•    Experience working at another Central Counterparty Clearing (CCP) firm, trading bank or firm, or buy-side firm
•    Strong familiarity with Financial Market Utilities in securities and derivatives markets
•    Ability to work in a regulated environment, including with the SEC, CFTC, and Federal Reserve; familiarity with the Covered Clearing Agency regulations a plus
•    In-depth understanding of risk management practices and methodologies, including qualitative and quantitative risk assessment / analysis and a strong understanding of mitigation strategy concepts
•    Demonstrated experience in partnering across First, Second, and Third Lines
•    Ability to develop collaborative relationships with a wide range of stakeholders 
•    Strong leadership, project management and organization skills, including the ability to multitask, prioritize, delegate, and manage an effective and growing team
•    Demonstrable evidence of specifying, designing, and delivering risk tools from scratch
•    Demonstrated record of creativity, independent thinking, and willingness to develop and drive new ideas
•    Strong interpersonal skills, written and oral communication skills
•    Ability to effectively communicate and present to all levels of the organization, including Management Committee and Regulators
    
Technical Skills:    

•    Microsoft Office proficiency including advanced Excel, PowerPoint, and Word
•    Beginner proficiency with R, Phyton, SQL, or Tableau
    
Education and/or Experience:    

•    10 years+ progressive experience in financial risk management or risk consultancy 
•    Bachelor’s degree in Finance, Economics, Mathematics, or equivalent
•    Master’s degree (preferred)
    
Certificates or Licenses:    

•    One or more professional certifications (e.g., CFA, FRM) (preferred)
 

Step 1
When you find a position you're interested in, click the 'Apply' button. Please complete the application and attach your resume.  

Step 2
You will receive an email notification to confirm that we've received your application.

Step 3
If you are called in for an interview, a representative from OCC will contact you to set up a date, time, and location. 

For more information about OCC, please click here.

OCC is an Equal Opportunity Employer

Apply About OCC
  • REQ-2362
  • Chicago - 125 S Franklin
  • Full Time Regular
  • Posted: Jan. 10, 2022

How to Apply

Step 1 - When you find a position you're interested in, click the 'Apply' button. Please complete the application and attach your resume.

Step 2 - You will receive an email notification to confirm that we've received your application.

Step 3 - If you are called in for an interview, a representative from OCC will contact you to set up a date, time, and location.

OCC is an Equal Opportunity Employer

Numerous studies have shown that people from groups that are traditionally under-represented in financial services apply to jobs only if they believe they meet 100% of the requirements. We want to break down this mindset to further diversify our workforce.

We encourage you to review our open positions and apply if you think your experience may be a match, even if you do not meet all of the qualifications. Your perspective may be an element we need to continue building innovative solutions to support the markets and market participants we serve.

OCC is a globally recognized entity that clears a multitude of diverse and sophisticated products. We want to reflect this in the diversity of our workforce.

This web site discusses exchange-traded options issued by The Options Clearing Corporation. No statement in this web site is to be construed as an endorsement, recommendation or solicitation to purchase or sell a security, or to provide investment advice. Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of the disclosure document, Characteristics and Risks of Standardized Options. Individuals should not enter into option transactions until they have read and understood this document. To obtain copies, contact your broker, any exchange on which options are traded, or The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606 ([email protected]).