Senior Associate, Third Party Risk Management

The Options Clearing Corporation (OCC); 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

Generous 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 relationships and ensuring compliance with risk procedures. You will govern and oversee third party engagements, lead special projects, and collaborate with internal and external stakeholders.

The role emphasizes risk analysis, onboarding/offboarding, regulatory support, and continuous improvement of the TPRM program.

Qualifications

• Bachelor’s degree (or equivalent) required.
• 2+ years in Risk Management or Third Party Risk.
• Some knowledge of Third Party Risk Management processes.

Responsibilities

• Coordinate with stakeholders to initiate, scope and conduct third party risk assessments.
• Conduct risk-based analysis and track remediation actions to closure.
• Oversee onboarding, monitoring and off-boarding of third party services.
• Maintain partnerships to ensure effective collaboration on risk management.
• Respond to third party requests related to OCC operations and regulatory needs.

Skills

Analytical thinking

Excellent communication

Interpersonal skills

Independent work

Education

Bachelor’s degree (or equivalent)

Master’s degree (preferred)

Tools

Microsoft Word

Microsoft Excel

Microsoft Access

PowerPoint

Job description

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

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

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

• 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.

OCC is an Equal Opportunity Employer