Associate Principal, Operational Risk Management

The Options Clearing Corporation (OCC); Chicago (IL); Hybrid; USD 98,000 - 142,000; Full time

Benefits offered by this job

Hybrid work environment

Tuition reimbursement

Student loan repayment assistance

Technology stipend

PTO and parental leave

401k employer match

Comprehensive health benefits

Job summary

The Options Clearing Corporation (OCC) is seeking a qualified risk professional to join the Operational Risk Management and Controls (ORMC) department. You will collaborate with Compliance, eGRC, and Internal Audit to strengthen risk management and assist with risk identification and assessment using Archer data.

Ideal candidates have 1–3 years in enterprise risk or related fields, a strong understanding of operational risk, and excellent communication skills to present findings to governance

Qualifications

• Basic understanding of Operational risk and related domains.
• Ability to act as a trusted advisor and provide effective challenge.
• Creative, independent thinker capable of developing new ideas.
• Excellent written, verbal and presentation skills.
• Team-oriented with cross-department collaboration.
• Ability to meet tight deadlines under pressure.
• Familiarity with Financial Market Utilities; securities and derivatives markets a plus.
• Experience in enterprise risk, operational risk management or risk consultancy (1–3 years).
• Technical or Security certification preferred.

Responsibilities

• Collaborate with Compliance, eGRC, and Internal Audit to enhance risk management across the organization.
• Assist with OCC’s risk identification and assessment processes and verify framework consistency.
• Adhere to methodologies, guidance, and standards for risk identification and assessment frameworks.
• Maintain risk inventories, taxonomies, and related elements supporting risk identification and assessment.
• Help execute risk assessment processes aligned to the risk and control universe and regulatory requirements and expectations.
• Generate reports of Archer data for various stakeholders, including regulators.
• Communicate results of risk assessments to governance committees, business owners and leadership.
• Collaborate on the enhancement and maintenance of ORMC program methodologies, policies, procedures, and job aides.
• Track and update ORMC team internal findings, external exam issues, and business area self-identified issues.

Skills

Operational risk knowledge

Advisory skills

Communication skills

Team collaboration

Ability to work under pressure

Regulatory familiarity

Risk assessment experience

Education

Bachelor’s Degree in Finance, Accounting, Economics (or equivalent)

Tools

Archer eGRC

MS Office (Excel/PowerPoint/Word)

Job description

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

What You'll Do

The Operational Risk Management and Controls (“ORMC”) department identifies, measures, monitors and reports risks and exposures across the organization through the Enterprise Risk Management Framework, and specifically through several risk programs, including but not limited to: Risk Identification and Measurement, Risk Lifecycle Management, Enterprise Risk Assessments, Risk Monitoring, Risk Treatment, Scenario Analysis, Key Risk Indicators and Risk Reporting/Governance.

Primary Duties and Responsibilities

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

• Collaborate with Compliance, eGRC, and Internal Audit to ensure that ORMC contributes to enhancing overall risk management across the organization.
• Assist with OCC’s risk identification and assessment process as well as verify the consistency and reliability for the associated frameworks and systems.
• Adherence to methodologies, guidance, and standards applicable to risk identification and assessment frameworks
• Maintain risk inventories, taxonomies, and other elements supporting risk identification and assessment.
• Help execute the risk assessment process, while aligning to the risk and control universe, and regulatory requirements and expectations
• Generate reports of Archer data for various stakeholders, including regulators.
• Communicate results of risk assessments to governance committees, business owners and various levels of leadership.
• Collaborate on the enhancement and maintenance of ORMC program methodologies, policies, procedures, and job aides, including the development of new program activities.
• Track and update ORMC team internal findings, external exam issues, and business area self-identified issues resulting from Enterprise Risk Assessments

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.

• Basic understanding of Operational risk, Business Operations risk, and Corporate Functions risk.
• Ability to act as a trusted advisor and provide effective challenge.
• Creative, independent thinker, with a willingness to develop and drive new ideas.
• Excellent written, verbal and presentation skills
• Must be team-oriented and be able to collaborate effectively in department and cross-departmental efforts.
• Ability to work under pressure and with tight deadlines.
• Familiarity with Financial Market Utilities; securities and derivatives markets a plus.
• Ability to work in a highly regulated environment, including with the SEC, CFTC, and Federal Reserve; Familiarity with the Covered Clearing Agency regulations a plus.
• 1-3 years’ experience in enterprise risk, operational risk management or risk consultancy.

Technical Skills

• Microsoft Office proficiency including advanced Excel, PowerPoint, and Word
• Experience with eGRC systems (e.g., Archer).

Education and/or Experience

• Bachelor’s Degree in Finance, Accounting, Economics (or equivalent) preferred.

Certificates or Licenses

• Technical or Security certification preferred.

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.

Benefits

• 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 limited to, company and individual performance and are not guaranteed.

Salary Range

$98,100.00 - $142,050.00

Incentive Range

8% to 15%

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.

OCC is an Equal Opportunity Employer