OCC
We clear and settle trades for the options industry.
Chicago, IL

Associate, Credit Risk Management at OCC (Chicago, IL)

| Chicago
Sorry, this job was removed at 6:31 a.m. (CST) on Tuesday, February 15, 2022
Find out who's hiring in Chicago.
See all Finance jobs in Chicago
Apply Now
By clicking continue you agree to Built In’s Privacy Policy and Terms of Use.

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

What You’ll Do

As a member of OCC’s Credit Risk Management team you will help safeguard OCC from counterparties who exhibit elevated credit or operational risk or lack appropriate risk management programs. Credit Risk Associates are responsible for identifying, measuring, monitoring, managing, and reporting various risks and exposures introduced to OCC by clearing members, banks, and other critical counterparties.

Primary Duties and Responsibilities:

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

Credit Risk Associates will learn the risks present within the clearing industry and the participating financial entities, including broker-dealers, futures commission merchants, commercial banks, pension funds, and financial market utilities. They work with Senior Associates to build and manage overall risk profiles of counterparties through several direct and ancillary processes, including:

  • Monitor ongoing creditworthiness of counterparties and their compliance with OCC rules and other regulatory requirements, material news and event disclosures, interact with counterparties to identify root cause of issues or concerns, and escalate issues requiring enhanced surveillance to department management and internal working groups so appropriate actions can be taken

  • Independently analyze financial statements to identify levels and trends in key metrics and ratios

  • Perform and document assessments on clearing member’s risk management policies, procedures, processes, staff, and systems to understand how the member is mitigating its risk to OCC 

  • Manage the applications of new counterparties and document results for presentation to senior management and Board Risk Committee for approval

  • Collaborate with other Financial Risk Management teams and counterparty-facing departments to assess all risks posed by counterparties

  • Assist counterparties with their inquiries regarding OCC risk policies and procedures as well as time-sensitive questions regarding margin requirements and position movements

  • Support risk system, data, and risk methodology development from a Credit Risk business user perspective

  • Develop and conduct advanced data analytics and reporting to identify and analyze causal links and meaningful relationships (e.g., correlations, distributions, percentiles) across large and/or multi-sourced data sets and determine best methods and visuals to communicate analytical insights to support executive decision making

  • Maintain and adhere to written policies and procedures

  • Participate in procedure-related control testing activities

  • Support regulatory reporting obligations

Supervisory Responsibilities:

  • N/A

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.

Minimum Requirements

  • Bachelor’s degree (preferably in Risk Management, Accounting, (Computational/Quantitative) Finance, or Economics) or equivalent work experience

  • Analytical and problem-solving skills and the ability to work in a collaborative environment

  • Proficient in Microsoft Office, including Excel experience using lookups and pivot tables to perform data analysis, and comfortable developing PowerPoint presentations

  • Excellent organization skills – must be detail oriented

  • Strong verbal and written communication skills

  • Comfortable working in a customer service-oriented environment, addressing questions from both OCC colleagues and OCC counterparties, engaging users to understand issues and identify root causes, and escalating incidents to appropriate teams

  • Ability to work well under pressure with multiple priorities and time-sensitive deadlines

Preferred Qualifications

  • 0-2 years of counterparty credit risk or relevant financial services industry experience

  • Basic understanding of the financial services industry, including the financial, market, liquidity and operational risks of broker-dealers, futures commission merchants, commercial banks, pension funds, and financial market utilities

  • Basic understanding of securities markets, derivatives, and option trading strategies

  • Coding experience with SQL and other data analytics tools (e.g., Tableau, Python, R, VBA macros)

  • Programming experience to help build and maintain the team’s self-automated processes

  • Experience using Bloomberg and/or S&P Global Market Intelligence, and the technical ability to connect these tools to Excel

  • Ability to read and understand financial statements, brokerage statements, and accounting records

  • Introductory knowledge of regulatory rules and regulations related to the SEC/CFTC

  • Basic understanding of counterparty credit analysis including awareness of the CAMEL(S) rating methodology and other rating systems

  • Desire to earn, or progress towards, a CFA or FRM certification

Technical Skills:

  • Coding experience with SQL and other data analytics tools (e.g., Tableau, Python, R, VBA macros)

  • Programming experience to help build and maintain the team’s self-automated processes

  • Experience using Bloomberg and/or S&P Global Market Intelligence, and the technical ability to connect these tools to Excel

Education and/or Experience:

  • Bachelor’s degree (preferably in Risk Management, Accounting, (Computational/Quantitative) Finance, or Economics) or equivalent work experience

  • Prefer 0-2 years of counterparty credit risk or relevant financial services industry experience

Certificates or Licenses:

  • Desire to earn, or progress towards, a CFA or FRM certification

See More
Apply Now
By clicking continue you agree to Built In’s Privacy Policy and Terms of Use.

Where we are

Adjacent to the Willis Tower, close to CTA, Metra and expressways with plenty of food and entertainment options nearby.

Technology we use

  • Engineering
    • .NETLanguages
    • C#Languages
    • C++Languages
    • JavaLanguages
    • JavascriptLanguages
    • PerlLanguages
    • PythonLanguages
    • RLanguages
    • RubyLanguages
    • ScalaLanguages
    • SqlLanguages
    • SwiftLanguages
    • ReactLibraries
    • AngularJSFrameworks
    • Ruby on RailsFrameworks
    • SpringFrameworks
Previous
Next

What are OCC Perks + Benefits

OCC Benefits Overview

Educational Assistance and Student Debt Forgiveness, 12-week paid parental leave, technology stipend up to $2,000, mobile data reimbursement of $35 per month. Open offices, online health coaching.

Culture
Volunteer in local community
Each year, OCC employees select a locally-based charitable organization for each of our three offices (Chicago, Dallas and Washington, D.C.). We offer multiple opportunities to get involved.
Partners with Nonprofits
OCC Partners with local organizations in Dallas, Chicago and DC to raise funds and support their missions. Employees select the charity and are eligible for up to 8 hours of paid time to volunteer.
Friends outside of work
Daily sync
Open door policy
Team owned deliverables
Team based strategic planning
Open office floor plan
Diversity
Dedicated Diversity/Inclusion Staff
Unconscious bias training
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
Disability Insurance
Dental Benefits
Vision Benefits
Health Insurance Benefits
Life Insurance
Wellness Programs
Mental Health Benefits
Retirement & Stock Options Benefits
401(K)
401(K) Matching
OCC provides employees with a 401(k) matching plan managed by Fidelity. We match 50% of contributions up to 6% of an employee's annual gross pay.
Performance Bonus
Match charitable contributions
Child Care & Parental Leave Benefits
Flexible Work Schedule
OCC provides employees with a flexible work schedule that includes Flexible start and end times.
Vacation & Time Off Benefits
Generous PTO
OCC employees receive between 22 and 32 days per year of paid time off based on years of service.
Paid Volunteer Time
Sabbatical
Eligible employees get 30 days of paid sabbatical after their first 10 years of working at the company.
Paid Holidays
Paid Sick Days
Perks & Discounts
Casual Dress
Commuter Benefits
OCC Offers pre-tax commuter benefits for employees in Chicago and Washington, D.C.
Happy Hours
Relocation Assistance
OCC offers relocation assistance which varies based on the position level and location.
Professional Development Benefits
Job Training & Conferences
OCC offers employees professional development opportunities including onsite training courses and the ability to attend job related certification courses, conferences and seminars.
Tuition Reimbursement
Our tuition reimbursement plan offers an annual max of $1000.
Lunch and learns
OCC hosts leadership lunches on a regular basis so you can learn about your colleagues and their unique backgrounds.
Cross functional training encouraged
Promote from within
Online course subscriptions available
Customized development tracks
Paid industry certifications
Employees are strongly encouraged to stay current in relevant technologies and supports certification programs.

Additional Perks + Benefits

We were just recognized as a best place to work for working parents! Take a look at our blog post here: https://www.theocc.com/Newsroom/Views/2021/04-26-OCC-Designated-as-Best…

An Insider's view of OCC

What are some social events your company does?

Monthly happy hours and cultural celebrations to honor our diverse workforce.

Andre

Executive Director, Talent Acquisition

More Jobs at OCC