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Executive Director, Legal (Governance)

About Us

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

Summary

The Executive Director, Associate General Counsel will provide legal advice on both routine and complex matters to internal clients to manage legal risks faced by the Corporation relating to clearance and settlement operations; advise internal clients on specific regulations applicable to OCC, with a particular emphasis on regulations of the Securities and Exchange Commission and Commodity Futures Trading Commission; work with personnel from the business units to articulate nature of changes to the Corporation’s By-Laws and Rules to the regulators; and serve as a Corporation liaison to the regulators.  
 

What You'll Do
•    Prepare rule filings and notices to the regulators, including but not necessarily limited to: rule filings with both the Securities and Exchange Commission and the Commodity Futures Trading Commission, advance notices with the Securities and Exchange Commission and the Board of Governors of the Federal Reserve, and event-driven notices with the Securities and Exchange Commission. 
•    Advise internal clients on regulatory issues related to risk management, including but not limited all regulatory issues with respect to OCC’s financial resources available in the event of a clearing member default, OCC’s clearing fund and margin methodologies, and model descriptions.  
•    Expert on financial risk management processes at central counterparties, including credit risk management and default risk management.  
•    Serve as legal department representative on internal working groups and make presentations to the Management Committee and/or Board of Directors, as appropriate.  
•    Be familiar with applicable regulation and advise internal clients on routine and complex matters related to current and prospective federal securities and commodities laws promulgated by the Securities and Exchange Commission or the Commodity Futures Trading Commission.   
•    Be familiar with and advise internal clients on specific international principles and standards applicable to OCC and/or its clearing members, including but not limited to those issued by CPMI-IOSCO and the Financial Stability Board.
•    Interpret and advise internal clients on OCC’s By-Laws and Rules, and any policies and procedures promulgated thereunder.
•    Advise internal clients on corporate policies and procedures, including but not limited to all legal department processes and procedures.
•    Assist with management of relationship with regulators from the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Board of Governors of the Federal Reserve System.
•    Assist in ensuring business initiatives are in compliance with regulatory obligations.
•    Assist in preparation of business colleagues for regulator examinations, attend regulator examinations, and conduct follow-up with regulators post-examination. 
•    Interface with outside counsel, as needed, with respect to matters described above.
•    Perform other duties as assigned.
    
Qualifications:

•    Prior experience in securities and commodity laws and regulations. 
•    Prior experience working with regulatory agencies and familiarity with regulations under Dodd-Frank and other applicable financial regulations preferred.
•    General knowledge of financial risk management issues facing clearing organizations.
•    General working knowledge of the clearance and settlement and risk management functions of a clearing organization preferred.
•    Excellent analytical and problem-solving skills 
•    Ability to manage medium to high complexity matters with a significant degree of independence.
•    Ability to expeditiously identify and assess issues and provide legally sound recommendations consistent with good business practices and reason.
•    Excellent interpersonal and communication skills.
•    Excellent writing skills.
•    Detail-oriented, flexible, and creative.
•    Well-organized and capable of handling several substantial assignments at the same time.
•    Self-starter with ability to work independently as well as on a team and to quickly shift priorities in response to changing business environment or priorities.
•    Ability to work collaboratively, including through effective communication, with internal clients from different departments at various levels of seniority.
•    Ability to promptly produce high-quality, accurate, and detailed work product.
•    Microsoft Office (Excel, Word)
•    10+ years of relevant experience at a law firm or corporate in-house position.
•    Juris Doctor or equivalent degree from a law school accredited by the American Bar Association.
•    Bachelor’s degree from accredited college or university.
•    Member in good standing with license to practice law in jurisdiction acceptable to the Chief Legal Officer.

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-2319
  • Washington DC
  • Full Time Regular
  • Posted: Dec. 2, 2021

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]).