Associate Principal, Operational Risk Management and Controls

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

Benefits offered by this job

Hybrid work environment up to 2 days/週

Tuition Reimbursement

Student Loan Repayment Assistance

Technology Stipend

Generous PTO and Parental leave

401k Employer Match

Comprehensive health benefits

Job summary

The Options Clearing Corporation (OCC) is seeking a qualified professional to support the Director of Operational Risk in evaluating IT and Security risks, applying the risk management framework, and coordinating ORM governance. This role collaborates across IT, Security, TPRM, Legal, Compliance, and Internal Audit to strengthen risk oversight and regulatory reporting.

Responsibilities include leading risk identification for IT and business risks, maintaining risk inventories, and driving

Qualifications

• Advanced IT risk, Security risk, and intermediate operational risk understanding.
• 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.

Responsibilities

• Collaborate with IT, Security, TPRM, Legal, Compliance, and Internal Audit to strengthen ORM risk management.
• Lead risk identification and assessment for IT, Security and business risks and ensure framework consistency.
• Drive adherence to risk identification methodologies, guidance, and standards.
• Maintain risk inventories and taxonomies supporting IT & Security risk management.
• Lead IT and Security risk assessment processes aligned to regulatory expectations.
• Ensure issues are reported and remediated to reduce risk or performance gaps.
• Generate Archer data reports for regulators and stakeholders.
• Help automate IT & Security risk oversight.
• Communicate assessment results to governance committees and leadership.
• Collaborate on ORM methodologies, policies, and program activities.
• Track internal findings and self-identified issues from ERA.

Skills

IT risk

Security risk

Operational risk

Risk assessment

Trusted advisor

Education

Bachelor’s Degree in Finance, Business, Information Systems, Computer Science

Tools

Microsoft Word

Microsoft Excel

Microsoft Access

PowerPoint

Archer eGRC

Job description

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:

This role will provide critical support to the Director of Operational Risk to evaluate IT and Security risks by assisting with risk assessments and applying aspects of the risk management framework across the process, risk, and control universe. Additionally, this role will help with the risk assessment program activities, coordinate with other functions (e.g. IT, Security, TPRM, Legal, Compliance, and Internal Audit) and facilitate appropriate ORM governance to ensure alignment to OCC strategy and short-term objectives.

The Operational Risk Management (ORM) department identifies, measures, monitors, and reports risks and exposures across the organization through the Risk Management Framework, and specifically through several risk programs, including but not limited to: Enterprise Risk Assessments (ERA) , Risk Event Analysis, Scenario Analysis, Key Risk Indicators, and Risk Reporting. The ORM team is a dedicated group of professionals focused on developing and executing second line of defense oversight responsibilities for OCC.

Primary Duties and Responsibilities:

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

• Collaborate with IT, Security, TPRM, Legal, Compliance, and Internal Audit to ensure that ORM contributes to strengthening the overall effective management of IT and Security risk across the organization.
• Lead the OCC’s risk identification and assessment process (Risk Intake) for IT, Security and business risks, and verify the consistency and reliability of the associated frameworks and systems.
• Drive adherence to methodologies, guidance, and standards applicable to risk identification and assessment frameworks.
• Maintain risk inventories, taxonomies, and other elements supporting IT & Security risk management and compliance activities
• Lead and execute the IT and Security risk assessment process, while aligning to the risk and control universe, and regulatory requirements and expectations.
• Ensure issues are properly reported to business areas and remediated appropriately to reduce outstanding risk or performance breakdowns
• Generate reports of Archer data for various stakeholders, including regulators.
• Help automate IT & Security risk oversight.
• Communicate results of risk assessments to governance committees, business owners, and various levels of leadership.
• Collaborate on the enhancement and maintenance of ORM program methodologies, policies, procedures, and job aides, including the development of new program activities.
• Track and update ORM team internal findings, external exam issues, and business area self-identified issues resulting from Enterprise Risk Assessment.

Supervisory Responsibilities

None

Are the essental duties of this job required to be performed in an OCC office location? Yes – Chicago office 3 days/week

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.

• [Required] Advanced understanding of IT risk, Security risk, and intermediate understanding of Operational risk
• [Required] Ability to act as a trusted advisor and provide effective challenge
• [Required] Creative, independent thinker, with a willingness to develop and drive new ideas
• [Required] Excellent written, verbal and presentation skills
• [Required] Must be team-oriented and be able to collaborate effectively in department and cross-departmental efforts
• [Required] Ability to work under pressure and with tight deadlines
• [Preferred] Familiarity with Financial Market Utilities; securities and derivatives markets
• [Preferred] Ability to work in a highly regulated environment, including with the SEC, CFTC, and Federal Reserve; Familiarity with the Covered Clearing Agency regulations

Technical Skills & Background

• [Required] Proficient in Microsoft Word, Excel, Access, and PowerPoint
• [Required] Experience with eGRC systems (e.g., Archer)

Education & Training

• [Required] Bachelor’s Degree in Finance, Business, Information Systems, Computer Science (or equivalent) preferred
• [Required] 3+ years of experience in enterprise risk, technology risk, security risk, or risk consultancy, specifically with focus on assessing IT and Security risk
• [Preferred] Consulting experience

Certificates or Licenses:

• [Preferred] Certification such as: CPA, CISSP, Security+, CSX-P, CET, CISA or CISM

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

Salary Range

$98,100.00 - $142,000.00

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.

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