Associate Principal, Model Risk Governance GRC

What You'll Do

This role will be viewed as an integral part of Model Risk Governance and will interact with OCC’s Model Risk Management, Financial Risk Management and Internal Audit teams. The Associate Principal - GRC will support, execute, and lead activities across the Model Risk Governance function related to Governance, Risk and Compliance (GRC). The focus of the role is to support, monitor, and enhance the governance, risk, and compliance activities within MRM.

Primary Duties and Responsibilities:

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

  • Develop, implement, and maintain Model Validation, Model Governance, and Model Risk Management Procedures and Job-Aids in accordance with the OCC’s Model Risk Management Policy.

  • Manage the Model Inventory and lead process improvements. Maintain status updates and facilitate resolution/escalations of issues in a timely fashion.

  • Conduct Quarterly Self-Assessments of MRM’s compliance with Model Risk Management control processes and implement remediation of any self-identified findings.

  • Act as a liaison between 1st, 2nd and 3rd Lines of Defense to execute on activities related to GRC frameworks and process documentation.

Audit/Exam Management

  • Support MRM and Corporate Risk Management Staff on written responses, evidence, and presentations provided to auditors or examiners.

  • Proactively review and maintain documentation that may be subject to an internal or external review to ensure it accurately reflects MRM’s processes.

  • Manage documentation packages related to Audit/Regulatory examinations (including but not limited to minutes, reports, Audit/Regulatory requests, etc.)


  • Facilitate the creation, monitoring, support and documentation of comprehensive remediation plans to address internal or external findings related to MRM.

  • Coordinate activities and/or documentation across other departments or stakeholders that have a role in MRM’s remediation activities.

  • Compile evidence and document closure of findings, including memorandums, policies, procedures, and controls.

Documentation Change Management

  • Create, develop, and maintain the MRM Department’s internal policies, procedures, processes, controls, and risk statements.

  • Research, analyze, and communicate information related to processes, controls, risks and policies and procedures.

  • Identify, develop, and implement opportunities and solutions for increased efficiency in processes and controls.


  • Prepare documentation related to model validation and model risk management for presentation at Management Committee meetings and OCC’s Risk Committee meetings.

  • Prepare and review MRM reporting for consistency with and inclusion of appropriate governance, risk management, and compliance practices.

  • Monitor and manage MRM’s reporting obligations to ensure complete and timely delivery.

Supervisory Responsibilities:

  • N/A


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.

  • Awareness of and ability to understand Central Counter Party (“CCP”) regulatory requirements.

  • Professional presence, with ability to communicate ideas both written and verbally.

  • Strong attention to detail and analytical skills including data analytics and reporting.

  • Experience with internal controls, risk assessment strategies, audit techniques, and project management.

  • Demonstrated ability to work independently and in a team environment and seek resources or training as necessary.

  • Experience managing multiple tasks/projects and deadlines simultaneously, shifting priorities, and staff responsibilities.

  • Ability to interact, collaborate, and influence all levels of the organization and across a multitude of departments.

  • Ability to assess complex issues, break down into components and propose viable solutions.

  • Ability to collaborate and coordinate with cross-functional staff resources to deliver results.

  • Experience working within teams and cross-functionally.

  • Strong customer service and collaboration skills. 

  • Strong influence, analytical and verbal/written communication skills.

Technical Skills:

  • Advanced knowledge of the MS Office suite, with emphasis on Excel, PowerPoint, and Word.

  • Experience with Governance and Risk & Compliance Software such as Archer, Jira, Appian and Apparity.

  • Ability to understand and analyze complex processes, including identification and implementation of recommended solutions.

  • Ability to understand, at a high level, quantitative models and methodologies and use that knowledge to advise on the associated governance, risk, and compliance activities to achieve positive outcomes.  

Education and/or Experience:

  • Bachelor of Science in Finance, Accounting, Business or a related discipline.

  • Two to four years of experience with audit, compliance and enterprise risk approaches within Financial Services industry.

Certificates or Licenses:

  • N/A

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

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-2902
  • Chicago - 125 S Franklin
  • Full Time Regular
  • Posted: Sep. 26, 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.

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