Senior Associate, Third Party Risk Management

The Options Clearing Corporation; Chicago (IL); Hybrid; USD 78,000 - 105,000; 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

Health benefits

Job summary

The Options Clearing Corporation (OCC) is seeking a Senior Associate to support TPRM efforts across multiple lines of business, assessing third party engagements and overseeing onboarding, monitoring, and offboarding processes.

Responsibilities include coordinating with stakeholders, conducting risk analyses, and leading special projects while maintaining regulatory and compliance awareness. A strong background in risk management and communication is required.

Qualifications

• Ability to anticipate, draw conclusions, and adapt to changing needs and demands.
• Prior Third Party Risk Management, Audit or Enterprise Risk Management experience
• Excellent verbal, written and interpersonal communication skills, including the ability to communicate effectively with all levels of staff and management
• Strong analytical skills, problem solving, strategic thinking and reasoning abilities
• A high degree of integrity, professionalism, and capacity to excel in a cohesive team environment
• Ability to work independently on projects with little oversight or as part of a team
• Detail oriented with the ability to multitask and quickly adapt to changing assignments

Responsibilities

• Coordinate with key stakeholders across multiple departments to initiate, scope and conduct Third Party risk assessments of new and existing Third Party engagements (Vendors, FMU’s, Exchanges, Clearing Members, Banks & other third parties)
• Conduct risk‑based analysis, such as communication of identified risks to key stakeholders, organizing remediation action plans, and track and monitor identified Third Party risks to closure
• Oversee on‑boarding, monitoring and off‑boarding of Third Party services
• Establish and maintain partnerships with internal and external stakeholders to ensure effective collaboration to identify, measure and manage Third Party risks and controls
• Coordinate with both internal and external stakeholders and respond to Third Party requests related to OCC operations from Clearing Members, Banks, and other OCC Third Parties
• Maintain an up‑to‑date understanding of emerging financial, operational, Third Party and regulatory/compliance related information to contribute to the continuous improvement of the Third Party risk management program
• Assist with regulatory and audit requests
• Lead special projects as assigned

Skills

TPRM experience

Communication

Analytical thinking

Problem solving

Team collaboration

Independence

Attention to detail

Education

Bachelor’s Degree (or equivalent)

Master’s Degree (preferred)

Tools

Microsoft Word

Excel

Access

PowerPoint

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 Senior Associate will be working across multiple lines of business to assist with TPRM efforts to monitor and manage third party relationships and compliance with TPRM procedures. In this role, they will have governance and oversight responsibilities to ensure third parties are properly assessed. In addition, the Associate Principal shall lead special projects as assigned.

Primary Duties and Responsibilities:

• Coordinate with key stakeholders across multiple departments to initiate, scope and conduct Third Party risk assessments of new and existing Third Party engagements (Vendors, FMU’s, Exchanges, Clearing Members, Banks & other third parties)
• Conduct risk‑based analysis, such as communication of identified risks to key stakeholders, organizing remediation action plans, and track and monitor identified Third Party risks to closure
• Oversee on‑boarding, monitoring and off‑boarding of Third Party services
• Establish and maintain partnerships with internal and external stakeholders to ensure effective collaboration to identify, measure and manage Third Party risks and controls
• Coordinate with both internal and external stakeholders and respond to Third Party requests related to OCC operations from Clearing Members, Banks, and other OCC Third Parties
• Maintain an up‑to‑date understanding of emerging financial, operational, Third Party and regulatory/compliance related information to contribute to the continuous improvement of the Third Party risk management program
• Assist with regulatory and audit requests
• Lead special projects as assigned

Supervisory Responsibilities:

None

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.

• Ability to anticipate, draw conclusions, and adapt to changing needs and demands
• Prior Third Party Risk Management, Audit or Enterprise Risk Management experience
• Excellent verbal, written and interpersonal communication skills, including the ability to communicate effectively with all levels of staff and management
• Strong analytical skills, problem solving, strategic thinking and reasoning abilities
• A high degree of integrity, professionalism, and capacity to excel in a cohesive team environment
• Ability to work independently on projects with little oversight or as part of a team
• Detail oriented with the ability to multitask and quickly adapt to changing assignments

Technical Skills:

Proficient in Microsoft Word, Excel, Access, and PowerPoint

Education and/or Experience:

• Bachelor’s Degree (or equivalent)
• Master’s Degree (preferred)
• At least 2 years of experience in Risk Management, Third Party Risk, Auditing or the equivalent
• Some knowledge of Third Party Risk Management processes and methodologies

Certificates or Licenses:

Preferred CISA, CRISC, or other certifications for Security or Business Continuity

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 $77,500.00 - $105,000.00

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.

Interviews

OCC does not utilize video chat rooms (that is, Google Hangouts) to conduct interviews. OCC will only use our approved Zoom video interview platform.

OCC is an 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].