Director, Risk and Control

What You'll Do    

The Corporate Risk department is responsible for supporting the achievement of an organization's objectives by addressing the full spectrum of its risks and managing the combined impact of those risks as an interrelated risk portfolio. 

The Director – Risk and Control is responsible for the identification, oversight, challenge and assessment of the organization’s risk, primarily as it relates to how internal controls are designed, documented and executed.  Specifically, this role will be expected to advise and challenge the organization on its processes, procedures and controls to ensure risk is appropriately identified, managed, mitigated, monitored and reported on accurately and timely to support the company’s operational and strategic objectives.  Additionally, they will be asked to 

Working with the Executive Director – Risk and Control, this role will work with members of the business across the organization to understand their processes, risks, procedures and controls and enhance and remediate gaps, where needed.  This role will also work closely with members of Compliance and Legal for the overall GRC program and processes.   

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

•    Review policies, procedures and controls for alignment to current practice, adequate design and risk mitigation and completeness of the control activities.
•    Work with stakeholders to understand business processed, supporting documentation and technology in order to identify and document their processes and activities and to review the accuracy and completeness of their policy, procedures, controls and test activities.
•    Review controls and associated test plans for adequacy of design, ensuring that the personnel, frequency and system are appropriate to mitigate identified risks within the process.
•    Represent Corporate Risk in various Working Groups, providing advice and challenge to operating units for risk management activities.
•    Develop positive collaborative relationships with Management, Compliance, Enterprise Risk Management, and Internal Audit to help achieve long-term strategy and short-term objectives.
•    Oversee and participate in scenario exercises and root case reviews, in order to assist and identify challenges within the operating environment which need mitigation, including potential procedure and control changes. 
•    Assist with senior management and Board reporting of risk management activities, providing valuable insights, trends and observations.
•    Be a primary point of contact for the policy, procedure and control changes needed as part of the Renaissance initiative and BAU projects, working with stakeholder groups to advise on risk mitigations, assessment of the related risk, and coordination for risk management and controls within project execution.  
•    Work with stakeholders to understand, identify, design and document automated controls within OCC’s operating environment.
•    Provide support on special projects or assignments as needed.
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.    

•    Strong knowledge or risk management frameworks and implementation of risk management capabilities in a financial services environment.
•    In-depth knowledge on business or processes, as well as risks and control activities; working knowledge of IT and Security risks and how they relate to business processes.
•    Experience tailoring industry frameworks to an organization to drive risk management capabilities.
•    Experience with risk identification, analysis and treatment.
•    Ability to adapt quickly to changing priorities, environment constraints and project deadlines.
•    Strong understanding of risk management and controls, and how processes, people and technology support risk mitigation.
•    Understanding of the regulatory environment and how control environment documentation supports compliance.
•    Ability to work with owners to understand processes, ask insightful questions and assess the current operating practices.
•    Critical thinking and problem-solving ability.
•    Ability to analyze data and prepare concise reports.
Technical Skills:    

•    Prior experience with Risk Management within a first, second or third line of defense role (Risk management, Compliance or Internal Audit).
•    Experience in designing, developing and implementing internal controls within complex, regulated environments.
•    Experience with Microsoft Visio or similar process flowchart tool.
•    Experience with Microsoft Office suite (MS Project, Word, Excel, PowerPoint).
Education and/or Experience:    

•    Bachelor’s degree in related fields (Accounting, Finance, Information Systems); Advanced Degree preferred
•    10+ years of work experience in Audit, Compliance, Information Technology / Security and/or risk and control related roles, required.
•    Experience in managing engagements or projects.
•    Experience working in heavily regulated financial institutions.
Certificates or Licenses:    

Preference will be given to candidates who have the following:
•    Audit, risk, or control certifications (CPA, CISA, CIA, CRISC, etc.)

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 2 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-3201
  • Chicago - 125 S Franklin
  • Full Time Regular
  • Posted: Mar. 17, 2023

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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