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

Senior Associate, Risk and Control at OCC (Chicago, IL)

| Chicago
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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

Enterprise Risk Management assists the business with the design and review of controls to mitigate the organizations risks. This role will report to the Executive Director and will work with the business to perform reviews over the control environment for the organization. 

This person will be hands-on with administrative responsibilities and numerous opportunities to learn about controls and risk management. The position will include significant process and documentation work as an individual contributor on the team.

This includes identification of organization and process risks, identification of controls to mitigate the risks, identification of control caps, review of associated policies and procedures, alignment of policies, procedures, and controls to the process. Additionally, this role is responsible for performing design and operational testing of identified controls, as needed. This role may also be responsible for, but is not limited to, identifying areas for process efficiency and automation, assisting in the identification and remediation of process and controls issues, and other activities to support the overall control environment.

Primary Duties and Responsibilities:

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

  • Review processes and work with owners to identify associated risks and controls

  • Review controls for adequacy, completeness and design to ensure risks are appropriately mitigated and managed

  • Review policies, procedures and job aids for alignment to processes and controls

  • Review processes for opportunities to improve efficiency and effectiveness, including opportunities to automate processes.

  • Develop recommendations/direction to business groups on process and control improvements.

  • Understand, utilize and train on the organization’s eGRC tool.

  • Oversee and provide analysis of new projects, systems, and products for impact to processes and controls.

  • Design and perform tests of controls for design and operational effectiveness, as needed

  • Produce effective reports on the processes and control activities, improvement efforts, as well as current effectiveness of controls.

  • Produce and deliver training and education on risks and controls.

  • Coordinate process and control efforts with control groups to maximize efficiency and effectiveness.

  • Collect data to identify root cause of problems, and escalate potential issues as necessary.

  • Oversee and assist with remediation management, and the implementation of processes and controls to address items

  • Monitor production problems/incidents for impact to organizational processes and controls.

  • Escalate issues to the Director and Executive Director, as needed.

  • Perform other duties as assigned.

Supervisory Responsibilities:

  • N/A


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.

  • Strong understanding of the role and importance of internal controls within the organization.

  • Experience with risk identification and mitigation, through internal audit, operational risk or enterprise risk

  • Ability to dissect a business process in order to understand risks, determine hidden control elements and identify potential improvements to the process and controls.

  • Strong analytical skills with the ability to apply judgment to provide efficient and effective solutions, and to analyze all collected data to garner useful results.

  • Excellent written and oral communication skills and the ability to interact with various departments to successfully collect needed information.

  • Strong analytical skills with the ability to apply judgment to provide efficient and effective solutions, and to analyze all collected data to garner useful results.

  • Ability to adapt quickly to changing priorities, environment constraints, and project deadlines.

  • Ability to manage multiple efforts concurrently.

  • SOC experience and/or knowledge of COSO, preferred.

  • Understanding of working in a regulated environment, preferably financial services, preferred

Technical Skills:

  • Graphical/Charting expertise (i.e. Visio)

  • MS Office expertise to support documentation, analysis and presentations (i.e. Excel, Word and PowerPoint).

  • Publisher experience is also ideal

  • eGRC experience (specifically RSA Archer), preferred

Education and/or Experience:

  • Bachelor’s Degree in Business, Finance, Accounting, or a related discipline.

  • 2-5 years related experience, preferably within financial services

  • Familiarity with internal controls role within an organization.

  • Experience in identifying process improvements.

  • Experience in project planning and reporting results. 

  • Experience with executing multiple projects simultaneously.

Certificates or Licenses:

  • CPA, CIA, CISA or other related certification, preferred.

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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

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.

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
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) 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
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.


Executive Director, Talent Acquisition

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