Senior Associate, Corporate Actions at OCC
Who We Are
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.
What We Offer
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 3 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
Competitive health benefits including medical, dental and vision
The Senior Associate, Corporate Actions is a key member of the Corporate Actions Department within Business Operations. The Senior Associate will assist in identifying corporate actions and determining how to adjust options and futures contracts according to the OCC By-Laws. Additionally, the Senior Associate will have responsibilities in executing daily processing and serving as a subject matter expert supporting continuous improvement activities to refine processing and improve OCC’s internal control environment through process redesign and implementation of new technologies.
Primary Duties and Responsibilities:
To perform this job successfully, an individual must be able to perform each primary duty satisfactorily.
• Independently analyze corporate action information from various sources, including proxy statements, exchange notifications, SEC and company websites, and DTC to determine the consideration to be received by underlying security holders under the terms of a corporate action and how such consideration should be applied to corresponding option holders, as well as to identify any nuances associated with a corporate action that must be researched and presented to department management for review.
• Draft Information Memos for publication to the OCC website describing adjustments to the terms or characteristics of options and futures contracts, based on corporate action events or changes to the characteristics of underlying securities.
• Work with external parties, including exchanges, vendors, and financial market utilities to confirm accuracy and finality of information related to securities underlying options and futures contracts.
• Ensure updates to data for the clearing, risk, and settlement systems are accurate.
• Assist in expiration tasks, including drafting expiration related information memos, as needed
• Process adjustments to cleared options and futures contracts and stock loan, option, and futures positions as a result of corporate actions affecting underlying securities.
• Initiate continual improvement activities by analyzing department processes to identify and assist in implementation of processes improvements
• Analyze data to identify potential root cause of issues and propose possible resolution. Work with Internal and external parties to implement solutions and validate that solutions are successful.
• Maintain and test the robustness of the Operations Control Framework though comprehensive reviews of all related procedures, controls, and job aids for accuracy and adherence to the Policy Governance Policy (PGP), identifying and resolving any issues with documentation.
• Leverage a technical understanding of OCC systems, messaging and processes to identify and resolve both internal and external system and messaging issues.
• Understand and comply with applicable OCC Rules, OCC By-Laws, Agreements, National Market Plans, Policies, and Process Documents.
• Utilize subject matter expertise to support training of peers and external business partners
• Represent department in ad-hoc projects and corporate projects to ensure that department and business partner needs are addressed.
• Support Business Continuity Testing and Business Interruption Planning Activities.
• Participate in agile project methodology serving as a subject matter expert, test case developer, or tester, as needed.
• Perform other duties as assigned.
Supervisory Responsibilities: None
The requirements listed below 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 manage multiple tasks/projects and deadlines simultaneously, as well as shifting priorities.
• Strong attention to detail and analytical skills including data analytics and reporting
• Ability to understand and succinctly describe complex financial events in writing, as well as the ability to proofread written materials prior to publication.
• Strong interpersonal skills, including excellent written and oral communication capabilities
• Ability to work collaboratively with internal business partners from different departments and at various levels of seniority.
• General knowledge of the financial industry
• Experience with Microsoft Excel and Word
• Familiarity with Bloomberg, DTC, and the SEC website, preferred
Education and/or Experience:
• Bachelor’s Degree in related field
• 3 + years of related work experience in a similar role, preferred.
Certificates or Licenses: None