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Senior Associate, Risk and Control

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

What You'll Do

Enterprise Risk Management assists the business with the design and review of controls to mitigate the organizations risks.  This role will report to the Executive Director and will work with the business to perform reviews over the control environment for the organization. 

This person will be hands-on with administrative responsibilities and numerous opportunities to learn about controls and risk management. The position will include significant process and documentation work as an individual contributor on the team.

This includes identification of organization and process risks, identification of controls to mitigate the risks, identification of control caps, review of associated policies and procedures, alignment of policies, procedures, and controls to the process.  Additionally, this role is responsible for performing design and operational testing of identified controls, as needed.  This role may also be responsible for, but is not limited to, identifying areas for process efficiency and automation, assisting in the identification and remediation of process and controls issues, and other activities to support the overall control environment.

Primary Duties and Responsibilities:

To perform this job successfully, an individual must be able to perform each primary duty satisfactorily.

  • Review processes and work with owners to identify associated risks and controls

  • Review controls for adequacy, completeness and design to ensure risks are appropriately mitigated and managed

  • Review policies, procedures and job aids for alignment to processes and controls

  • Review processes for opportunities to improve efficiency and effectiveness, including opportunities to automate processes.

  • Develop recommendations/direction to business groups on process and control improvements.

  • Understand, utilize and train on the organization’s eGRC tool.

  • Oversee and provide analysis of new projects, systems, and products for impact to processes and controls.

  • Design and perform tests of controls for design and operational effectiveness, as needed

  • Produce effective reports on the processes and control activities, improvement efforts, as well as current effectiveness of controls.

  • Produce and deliver training and education on risks and controls.

  • Coordinate process and control efforts with control groups to maximize efficiency and effectiveness.

  • Collect data to identify root cause of problems, and escalate potential issues as necessary.

  • Oversee and assist with remediation management, and the implementation of processes and controls to address items

  • Monitor production problems/incidents for impact to organizational processes and controls.

  • Escalate issues to the Director and Executive Director, as needed.

  • Perform other duties as assigned.

Supervisory Responsibilities:

  • N/A

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.

  • Strong understanding of the role and importance of internal controls within the organization.

  • Experience with risk identification and mitigation, through internal audit, operational risk or enterprise risk

  • Ability to dissect a business process in order to understand risks, determine hidden control elements and identify potential improvements to the process and controls.

  • Strong analytical skills with the ability to apply judgment to provide efficient and effective solutions, and to analyze all collected data to garner useful results.

  • Excellent written and oral communication skills and the ability to interact with various departments to successfully collect needed information.

  • Strong analytical skills with the ability to apply judgment to provide efficient and effective solutions, and to analyze all collected data to garner useful results.

  • Ability to adapt quickly to changing priorities, environment constraints, and project deadlines.

  • Ability to manage multiple efforts concurrently.

  • SOC experience and/or knowledge of COSO, preferred.

  • Understanding of working in a regulated environment, preferably financial services, preferred

Technical Skills:

  • Graphical/Charting expertise (i.e. Visio)

  • MS Office expertise to support documentation, analysis and presentations (i.e. Excel, Word and PowerPoint).

  • Publisher experience is also ideal

  • eGRC experience (specifically RSA Archer), preferred

Education and/or Experience:

  • Bachelor’s Degree in Business, Finance, Accounting, or a related discipline.

  • 2-5 years related experience, preferably within financial services

  • Familiarity with internal controls role within an organization.

  • Experience in identifying process improvements.

  • Experience in project planning and reporting results. 

  • Experience with executing multiple projects simultaneously.

Certificates or Licenses:

  • CPA, CIA, CISA or other related certification, 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-2206
  • Chicago - 125 S Franklin
  • Full Time Regular
  • Posted: Oct. 13, 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]).