Associate, Financial Risk Oversight

The Options Clearing Corporation; Chicago (IL); On-site; USD 56,000 - 85,000; Full time

Benefits offered by this job

Hybrid remote work

Tuition reimbursement

Student loan repayment assistance

Tech stipend

PTO & parental leave

401k match

Health benefits

Job summary

The Options Clearing Corporation (OCC) is the world’s largest equity derivatives clearing organization. The Associate, Financial Risk Oversight helps monitor risk tolerances and supports financial risk management reporting and recovery oversight.

You will collaborate with Corporate Risk Management, Compliance, and first-line risk teams to enhance risk monitoring and governance. A Bachelor's degree in a related field is required, with 1+ years in financial services preferred, and a hybrid work

Qualifications

• Understanding of securities/derivatives markets and risk management.
• Ability to think creatively and present ideas clearly.
• Strong attention to detail and problem-solving skills.
• Experience in designing and producing quality reports and presentations.
• Strong interpersonal and written/oral communication skills.
• Ability to interact across multiple levels and departments.

Responsibilities

• Assist with implementing risk oversight activities to assess, monitor and report on risk management effectiveness.
• Assist enterprise risk assessments with the ORM team following the RMF.
• Maintain risk inventories and taxonomies related to financial risk management and compliance.
• Develop understanding of OCC’s enterprise risk and assist business units with governance issues.
• Verify and monitor KPIs for management and board-level reporting across units.
• Track and monitor financial risk using tools and methods.
• Communicate audit/exam issues to Corporate Risk Management teams.
• Support mitigation planning for default and non-default losses and related tests.
• Review data for accuracy and consistency in reporting.
• Help develop department policies, procedures, aids, and controls.
• Support management with special projects.

Skills

Securities knowledge

Risk management

Analytical thinking

Report design

Interpersonal skills

Cross-team collaboration

Project management

Regulatory environment

Data analytics

Education

Bachelor's degree in Risk/Finance/Economics/Engineering

Tools

Microsoft Excel

PowerPoint

Word

Job description

*****THIS POSITION IS NOT ELIGIBLE FOR VISA SPONSORSHIP*****

What You’ll Do:

The Associate, Financial Risk Oversight provides critical support to department leadership by monitoring OCC’s adherence to its risk tolerances, developing risk reporting, monitoring and challenging the effectiveness of OCC’s financial risk management framework, and supporting default management and recovery and wind-down oversight activities. The role will involve close collaboration across teams within the broader Corporate Risk Management function as well as other key OCC stakeholders, including Compliance and first-line Financial Risk Management.

Primary Duties and Responsibilities:

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

• Assist the department in implementing risk management oversight activities to assess, monitor, and report on the adequacy and effectiveness of OCC’s management of financial risk
• Assist with enterprise risk assessments (ERAs) on first-line Financial Risk Management in coordination with the Operational Risk Management (ORM) team, pursuant to OCC’s enterprise-wide Risk Management Framework (RMF)
• Assist ORMC with maintenance of risk inventories, taxonomies, and other elements related to financial risk management and compliance activities
• Develop and leverage an understanding of OCC’s enterprise risk and assist business units with governance issues and concerns
• Verify, analyze, create, and monitor key performance, risk, and control indicators to support management and board-level reporting across business units
• Identify, develop, and implement tools or methods to track and monitor financial risk
• Track and communicate identified audit and exam issues as well as business area self-identified issues and findings to other Corporate Risk Management teams
• Understand OCC plans for mitigation of default and non-default losses, and assist in planning and testing of the tools that may be used during those loss events
• Understand OCC quantitative and qualitative reporting and assist in reviewing data to make sure it is accurate and consistent
• Assist with developing and maintaining department-level policies, procedures, job aids, and controls
• Support management with special projects and other duties assigned

Supervisory Responsibilities: None

Qualifications:

• [Required] Basic understanding of securities/derivatives markets and risk management
• [Required] Ability to think creatively and present ideas clearly
• [Required] Strong attention to detail and problem-solving skills
• [Required] Experience in designing and producing quality reports and presentations
• [Required] Strong interpersonal skills, including excellent written and oral communication skills
• [Required] Ability to interact and collaborate with all levels of the organization and across a multitude of departments
• [Required] Ability to manage tasks/projects and deadlines, as well as the ability to adapt to shifting priorities
• [Required] Ability to build broad-based business relationships across the organization
• [Required] Ability to work in a highly regulated environment, including with the SEC, CFTC, and Federal Reserve
• [Preferred] Strong analytical skills including data analytics and reporting

Technical Skills & Background

• [Required] Proficient in Microsoft Excel, Word, and PowerPoint
• [Preferred] Experience with Tableau Certifications N/A

Education & Training

• [Required] Bachelors degree in Risk, Finance, Economics, Engineering or equivalent
• [Preferred] 1+ years of financial services, risk management, compliance, and/or audit experience

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 23 exchanges and trading platforms. More information about OCC is available at www.theocc.com.

Benefits

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
• 401k Employer Match
• Competitive health benefits including medical, dental and vision

Visit https://www.theocc.com/careers/thriving-together for more information.

Compensation

The salary range listed for any given position is exclusive of fringe benefits and potential bonuses. If hired at OCC, your final base salary compensation will be determined by factors such as skills, experience and/or education. In addition, we believe in the importance of pay equity and consider internal equity of our current team members as part of any final offer. We typically do not hire at the maximum of the range in order to allow for future and continued salary growth. We also offer a substantial benefits package as noted on www.theocc.com/careers. All employees may be eligible for a discretionary bonus. Discretionary bonuses are based on various factors, including, but not guaranteed. Salary Range $56,300.00 - $85,200.00 Incentive Range 6% to 10% This position is eligible for an annual discretionary incentive compensation award, for which the target range is listed above (see Incentive Range). The amount of such award, if any, will be based on various factors, including without limitation, both individual and company performance.

Equal Opportunity Employer

OCC is an equal opportunity employer that is committed to diversity, equity, and inclusion. OCC provides equal employment opportunities to all employees and applicants for employment without regard to race, color, national origin, citizenship status, sex, sexual orientation, gender identity or expression, disability, age, marital status, religion, veteran status, or any other characteristics protected by applicable federal, state, or local laws. Numerous studies have shown that people from certain groups are less likely than others to apply to jobs if they believe they do not meet 100% of the requirements. We encourage everyone 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. If you need a disability related accommodation for any part of the application process, please email [e-mail].