Principal, Assistant General Counsel - - Regulatory Technology Exam Management and Litigation at OCC (Chicago, IL)
All OCC employees are required to disclose their COVID-19 vaccination status to OCC’s Human Resources department, and provide acceptable proof of vaccination status, as applicable. In addition, OCC requires employees who enter one of its offices to be fully vaccinated against COVID-19 or submit to regular testing as a condition of employment, subject to reasonable accommodation.
The Principal, Assistant General Counsel, will provide legal counsel to internal business clients on both routine and complex matters regarding regulatory examinations, investigations, and litigation, with a special emphasis on information technology, information security, and information governance.
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
Primary Duties and Responsibilities
To perform this job successfully, an individual must be able to perform each primary duty satisfactorily.
- Assist with Legal department role in overseeing regulatory examination process, including but not limited to review of responses to document requests, participation in onsite examination sessions, and drafting of responses to preliminary and final examination findings.
- Review documents prepared in conjunction with regulatory examinations to help ensure accuracy, consistency, and overall quality.
- Prepare subject matter experts who will present during regulatory examinations or investigations; help strategize with respect to presentations during examination or investigation generally.
- Assist with management of relationship with regulators, primarily in the examination and investigation context, including the SEC, the CFTC, and the Board of Governors of the Federal Reserve System.
- Act as subject matter expert for the legal function by providing specialized legal and regulatory advice to internal clients on a variety of matters, with an emphasis in the areas of information technology, security, and governance; data loss prevention; and records management.
- Support regulatory inspections of OCC’s technology and security systems and practices, including SEC Technology Controls Program and CFTC Systems Safeguards examinations.
- Be familiar with and advise internal clients on specific regulations applicable to OCC and/or its clearing members, including but not limited to federal securities and commodities laws promulgated by the SEC, CFTC, the Board of Governors of the Federal Reserve System, including the SEC's Regulation Systems Compliance and Integrity (Reg. SCI) and the CFTC's Systems Safeguards, and any legal developments in matters concerning information security and governance, privacy, and business continuity.
- Advise internal clients on litigation, potential litigation, and other disputes involving OCC.
- Manage implementation of legal holds.
- Respond to routine third party subpoenas and document requests from regulators.
- Assist in supervision of, and work closely with, outside counsel to manage litigation portfolio and significant third-party subpoenas and document requests from regulators.
- As needed, provide legal advice to internal clients on both routine and complex matters related to current and prospective regulations in order to manage legal risks faced by the Corporation relating to regulatory developments.
- Assist in ensuring business initiatives are in compliance with current and proposed regulatory requirements.
- Perform other duties as required.
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.
- Experience in securities and commodity laws and regulations.
- Experience working with regulatory agencies or regulated financial institutions.
- Experience with litigation or regulatory examinations.
- Experience in one or more of the following areas: information technology, information security, cyber-security, or information governance.
- Familiarity with laws, rules, regulations, and industry standards concerning one or more of the above-mentioned practice areas, including but not limited to knowledge of Regulation SCI.
- General working knowledge of the clearance and settlement and risk management functions of a clearing organization preferred.
- Understanding of and familiarity with best practices with respect to corporate governance of systemically important financial market utilities preferred.
- Excellent analytical and problem-solving skills.
- Excellent interpersonal and communication skills.
- Ability to manage medium to high complexity matters with a significant degree of independence.
- Ability to expeditiously identify and assess issues and provide legally sound recommendations consistent with good business practices and reason.
- Excellent writing skills.
- Detail-oriented, flexible, and creative.
- Well-organized and capable of handling several substantial assignments at the same time.
- Self-starter with ability to work independently as well as on a team and to quickly shift priorities in response to changing business environment or priorities.
- Ability to work collaboratively, including through effective communication, with internal clients from different departments at various levels of seniority.
- Ability to promptly produce high-quality, accurate, and detailed work product.
- 5-7 years of related experience either at a law firm, in-house, or at a regulatory agency.
- Bachelor’s degree from accredited college or university.
- Juris Doctor or equivalent degree from a law school accredited by the American Bar Association.
- Admitted to practice law in Illinois.