Associate Principal, Operational Risk Management

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

Benefits offered by this job

Hybrid work

Remote days

Tuition reimbursement

Student loan repayment

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. This role sits in the Operational Risk Management and Controls (ORMC) department, identifying, measuring, monitoring and reporting risks across the enterprise through ERM frameworks and risk programs.

You will support risk assessments, coordinate with control functions, and help maintain risk inventories while collaborating with Compliance, eGRC and Internal Audit.

Qualifications

• 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 willingness to develop and drive new ideas.
• Excellent written, verbal and presentation skills.
• Must be team-oriented and able to collaborate across departments.
• Familiarity with regulatory environments and risk governance processes.

Responsibilities

• Support Business Operations, Corporate Functions and Financial risks by assisting with risk assessments.
• Coordinate risk assessment program activities and align with governance across units.
• Collaborate with Compliance, eGRC, and Internal Audit to strengthen risk management.
• Assist with risk identification and assessment ensuring framework consistency.
• Maintain risk inventories, taxonomies and related artifacts.
• Execute risk assessment processes aligned to risk universe and regulations.
• Generate Archer data reports for regulators and leadership.
• Communicate assessment results to governance committees and owners.

Skills

Operational risk

Risk assessment

Communication skills

Education

Bachelor’s Degree in Finance, Accounting, Economics

Tools

Archer

Job description

*****THIS POSITION IS NOT ELIGIBLE FOR VISA SPONSORSHIP***** To be considered for this position, applications and resumes are accepted only through our careers site by directly applying to the posted job. We do not accept unsolicited resumes or sales solicitations from staffing agencies. Any OCC employee wishing to submit a referral must do so through their Workday account. Any resume submitted outside of an active job posting will not be considered for employment.

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.
• The position will provide critical support to the team focused on Business Operations, Corporate Functions and Financial risks by assisting with risk assessments and applying aspects of the risk management framework across the process, risk, and control universe.
• Additionally, the role will help with the risk assessment program activities, coordinate with other control functions, and facilitate appropriate business unit risk governance to ensure alignment to OCC strategy and short-term objectives.
• 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:

• 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%

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.