The Options Clearing Corporation (OCC) · 23 hours ago
Lead Associate Principal, Core Credit
Chicago - 125 S Franklin
Full-time
Hybrid
Senior Level, Lead/Staff
$142K/yr - $209K/yr
7+ years expThe Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. This role is primarily responsible for safeguarding OCC by ensuring that only financially and operationally sound counterparties are admitted and transacted with, while also managing credit risks associated with these counterparties.
FinanceFinancial ServicesProperty Management
No H1B
Responsibilities
Independently monitor, analyze, and evaluate the ongoing creditworthiness of counterparties and their compliance with OCC rules and other regulatory requirements, including analysis of financial statements to identify levels and trends in key metrics and ratios, awareness of material news and event disclosures, collaborative interaction with counterparties to identify root cause of issues or concerns, and escalation of counterparties requiring enhanced surveillance to department management
Independently monitor, analyze, and evaluate assessments of clearing members’ and other counterparties’ financial condition, risk management and operational policies, procedures, processes, staff, and systems to understand how the member is monitoring and mitigating its risk to OCC
Accountable for creating, analyzing, and evaluating output of CRM’s periodic exams of existing clearing members and other counterparties, escalating identified credit concerns to Management as needed
May participate on requests for new or expanded clearing member and other counterparty relationships, including recommendations for protective covenants, where necessary
Responsible for identifying and escalating to Management when clearing members or other counterparties may require enhanced credit surveillance and/or additional risk mitigation
Foster and maintain strategic relationships with senior staff of FRM, other departments and external stakeholders, demonstrating a high degree of professional presence
Conduct annual reviews of credit risk methodologies and practices, leading the evaluation of potential enhancements, identifying and escalating to Management
In the course of daily business, identify and escalate risk management needs and may lead development of new credit risk management systems and overall capabilities
Work closely with senior leaders on projects and cross-department collaboration
Participate in interactions with regulators, exchanges and other external parties, as needed, on formal exams of CRM or ongoing requests for information
Identify and escalate risk management policies consistent with risk management best practices
Drive business results by continuously demonstrating a strong bias for action through ownership and accountability
Participate in OCC culture, value, and competency initiatives, including a focus on achieving strong engagement results
Effectively challenge existing processes on an ongoing basis
Participate in remediation efforts related to regulatory or internal audit findings and observations. Ensure remediation addresses root cause, improves OCC’s residual risk, and is completed in a timely manner
Mentor and train junior staff in Credit Risk practices, processes, and procedures
Qualification
Required
Ability to critically assess counterparties, including a deep understanding of the CAMEL(S) rating methodology and other industry accepted credit rating methodologies
Ability to read and understand financial statements, brokerage statements, and accounting records
Strong knowledge of SEC/CFTC regulatory rules and regulations related to credit risk management
Strong knowledge 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
Strong understanding of securities markets, derivatives, and option trading strategies
Familiarity with statistical concepts including VaR, Expected Shortfall, Student-T and Normal Distributions
Participate in OCC efforts for inclusion of new products in OCC's clearing system, including model or methodology development, membership standards and regulatory approvals
Strong understanding of business collaboration with IT teams in requirements development and user-testing
Must be able to work in a team environment, be responsive to Executive Management
Must possess strong oral and written communication and presentation skills with both business and quantitative departments
Proven leadership abilities
Demonstrated analytical and problem-solving skills and the ability to work in fast-paced collaborative environment
Must be able to work under deadlines and manage multiple tasks
Broad knowledge in mathematical finance, financial econometrics, derivative instruments and risk management
Strong knowledge of spreadsheets, MS Excel preferred
Strong skills for presentations to senior management
Strong knowledge in the creation of presentations, MS PowerPoint preferred
Intermediate Knowledge of data bases, SQL, Python, and data visualization (Tableau or Power BI)
MBA or MS degree in Accounting, Finance, Economics or equivalent discipline
Analytical and problem solving skills
Experience collaborating on a team of experienced individuals and analysts
7+ years of experience in Risk Management
Experience in financial services/ regulated capital markets infrastructure
Preferred
Strong knowledge in asset classes like equities, interest rates, volatility, commodities, and foreign currencies
Knowledge and experience with the processes to onboard and monitor securities lending counterparty
Experience with a broker-dealer, FCM, exchange, regulator, or clearing house
Depth and breadth of experience in a highly regulated industry, like financial services, and an understanding of rules/regulations that govern them
CFA or FRM certification
Benefits
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
Company
The Options Clearing Corporation (OCC)
The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization.
1001-5000 employees
Funding
Current Stage
Late StageLeadership Team
David Hoag
Chief Information Officer
Kristen Baldwin
Chief Information Officer
Recent News
2025-12-24
Company data provided by crunchbase