Associate Principal, Operational Risk Management and Controls

Operational Risk Management Support

This role will provide critical support to the Director of Operational Risk to evaluate IT and Security risks by assisting with risk assessments and applying aspects of the risk management framework across the process, risk, and control universe. Additionally, this role will help with the risk assessment program activities, coordinate with other functions (e.g. IT, Security, TPRM, Legal, Compliance, and Internal Audit) and facilitate appropriate ORM governance to ensure alignment to OCC strategy and short-term objectives.

The Operational Risk Management (ORM) department identifies, measures, monitors, and reports risks and exposures across the organization through the Risk Management Framework, and specifically through several risk programs, including but not limited to:
Enterprise Risk Assessments (ERA), Risk Event Analysis, Scenario Analysis, Key Risk Indicators, and Risk Reporting. The ORM team is a dedicated group of professionals focused on developing and executing second line of defense oversight responsibilities for OCC.

Primary Duties and Responsibilities:

• Collaborate with IT, Security, TPRM, Legal, Compliance, and Internal Audit to ensure that ORM contributes to strengthening the overall effective management of IT and Security risk across the organization.
• Lead the OCC's risk identification and assessment process (Risk Intake) for IT, Security and business risks, and verify the consistency and reliability of the associated frameworks and systems.
• Drive adherence to methodologies, guidance, and standards applicable to risk identification and assessment frameworks.
• Maintain risk inventories, taxonomies, and other elements supporting IT & Security risk management and compliance activities
• Lead and execute the IT and Security risk assessment process, while aligning to the risk and control universe, and regulatory requirements and expectations.
• Ensure issues are properly reported to business areas and remediated appropriately to reduce outstanding risk or performance breakdowns
• Generate reports of Archer data for various stakeholders, including regulators.
• Help automate IT & Security risk oversight.
• Communicate results of risk assessments to governance committees, business owners, and various levels of leadership.
• Collaborate on the enhancement and maintenance of ORM program methodologies, policies, procedures, and job aides, including the development of new program activities.
• Track and update ORM team internal findings, external exam issues, and business area self-identified issues resulting from Enterprise Risk Assessment.

Supervisory Responsibilities:

None

Are the essential duties of this job required to be performed in an OCC office location? Yes – Chicago office 3 days/week

Qualifications:

• [Required] Advanced understanding of IT risk, Security risk, and intermediate understanding of Operational risk
• [Required] Ability to act as a trusted advisor and provide effective challenge
• [Required] Creative, independent thinker, with a willingness to develop and drive new ideas
• [Required] Excellent written, verbal and presentation skills
• [Required] Must be team-oriented and be able to collaborate effectively in department and cross-departmental efforts
• [Required] Ability to work under pressure and with tight deadlines
• [Preferred] Familiarity with Financial Market Utilities; securities and derivatives markets
• [Preferred] Ability to work in a highly regulated environment, including with the SEC, CFTC, and Federal Reserve;
  Familiarity with the Covered Clearing Agency regulations

Technical Skills & Background:

• [Required] Proficient in Microsoft Word, Excel, Access, and Power Point
• [Required] Experience with eGRC systems (e.g., Archer)

Education & Training:

• [Required] Bachelor's Degree in Finance, Business, Information Systems, Computer Science (or equivalent) preferred
• [Required] 3+ years of experience in enterprise risk, technology risk, security risk, or risk consultancy, specifically with focus on assessing IT and Security risk
• [Preferred] Consulting experience

Certificates or Licenses:

• [Preferred] Certification such as: CPA, CISSP, Security+, CSX-P, CET, CISA or CISM

About Us:

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 counter party (CCP) clearing and settlement services to 19 exchanges and trading platforms. More information about OCC is available at

Benefits:

• A hybrid work environment, up to 2 days per week of remote work
• Tuition Reimbursement to…