Associate Principal, Operational Risk Management

What You'll Do:

The Operational Risk Management and Controls (“ORMC”) department identifies, measures, monitors and reports risks and exposures across the organization through the Enterprise Risk Management Framework, and specifically through several risk programs, including but not limited to: Enterprise Risk Assessments, Risk Intake, Risk Treatment, Scenario Analysis, Key Risk Indicators and Risk Reporting.

Primary Duties and Responsibilities:

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

The Associate Principal will provide critical support to Management focused on Business Operations, Corporate Functions, Financial and Legal/Regulatory risks by assisting with risk assessments and applying aspects of the risk management framework across the process, risk, and control universe. Additionally, the Associate will help with the risk assessment program activities, coordinate with other control functions, and facilitate appropriate business unit risk governance to ensure alignment to OCC strategy and short-term objectives.

Supervisory Responsibilities:

• None

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.

• Collaborate with Compliance, eGRC, and Internal Audit to ensure that ORMC contributes to enhancing overall risk management across the organization.

• Assist with OCC’s risk identification and measurement process as well as verify the consistency and reliability for the associated frameworks and systems.

• Adherence to methodologies, guidance, and standards applicable to risk identification and assessment frameworks

• Maintain risk inventories, taxonomies, and other elements supporting risk identification and assessment.

• Help execute the risk identification and measurement process, while aligning to the risk and control universe, and regulatory requirements and expectations

• Generate reports of Archer data for various stakeholders, including regulators.

• Communicate results of risk assessments to governance committees, business owners and various levels of leadership.

• Collaborate on the enhancement and maintenance of ORMC program methodologies, policies, procedures, and job aides, including the development of new program activities.

• Track and update ORMC team internal findings, external exam issues, and business area self-identified issues resulting from Enterprise Risk Assessments

• Basic understanding of Operational risk, Business Operations risk, and Corporate Functions risk.

• Ability to act as a trusted advisor and provide effective challenge.

• Creative, independent thinker, with a willingness to develop and drive new ideas.

• Excellent written, verbal and presentation skills

• Must be team-oriented and be able to collaborate effectively in department and cross-departmental efforts.

• Ability to work under pressure and with tight deadlines.

• Familiarity with Financial Market Utilities; securities and derivatives markets a plus.

• Ability to work in a highly regulated environment, including with the SEC, CFTC, and Federal Reserve; Familiarity with the Covered Clearing Agency regulations a plus.

Technical Skills:

• Microsoft Office proficiency including advanced Excel, PowerPoint, and Word

• Experience with eGRC systems (e.g., Archer).

Education and/or Experience:

• 1-3 years’ experience in enterprise risk, operational risk management, risk consultancy or related field.

• Bachelor’s Degree in Finance, Accounting, Economics (or equivalent) preferred.

Certificates or Licenses:

• Technical or Security certification preferred.

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 a