Director, Credit Onboarding

Job Title : Credit Risk Management Supervisor

This role will be primarily responsible for safeguarding OCC by ensuring that Credit Risk Management (CRM) only recommends new clearing member applicants and other counterparties that are financially and operationally sound and meet the expectations of OCC's management, Board and supervisors.

Supervises a team of employees responsible for the analysis of all new clearing member applicants and other counterparties, which includes the identification of material financial and operational risks presented by such applicants.

Ensure the team's processes and controls are consistently followed and monitored for enhancement opportunities. Ensuring alignment with OCC's Framework for Risk Management and work with senior management in Financial Risk Management to ensure OCC is at the forefront of credit risk management capabilities. This person will continually assess current systems and capabilities supporting the CRM onboarding processes and recommend to Management any enhancements necessary. This individual will lead or serve as the main stakeholder in projects related to those enhancements to ensure successful implementation and conclusion.

Awareness of overall financial industry trends, regulatory developments, OCC rules, and overall credit risk management best practices is necessary to lead OCC in the development of credit risk management frameworks, tools and solutions that both protect OCC from credit losses and provides the industry with greatest benefit. Ensure staff is communicating relevant credit risk information to various senior OCC staff, reviewing the sufficiency of controls, and ensuring coordination with other areas of the organization as necessary.

Lead and / or participate on internal Working Groups, interact with the Management Committee, the Risk Committee of the Board of Directors, Chief Risk Officer and regulators as needed. Work under a high demand for independent judgement.

Primary Duties and Responsibilities :

• Oversee, monitor and manage staffing engaged in evaluating the initial creditworthiness of counterparties applying to become OCC clearing members or who wish to expand their existing relationship with OCC.
• As part of this initial evaluation, ensure all applicants meet the minimum financial and operational requirements specified in OCC rules and procedures.
• Collaborative interaction with applicants and existing members seeking to expand their membership, to ensure CRM receives all disclosures necessary to form a credit recommendation and to keep applicants informed of the status of their application or business expansion.
• Provide expert credit input and effective challenge on all requests for new or expanded clearing member and other counterparty relationships, including recommendations for protective covenants, where necessary.
• Responsible for identifying and escalating timely to Management when an applicant is determined to not meet OCC's minimum financial or operational requirements.
• Foster and maintain strategic relationships with senior staff of FRM, other departments and external stakeholders involved in the new applicant onboarding process, demonstrating a high degree of executive presence.
• Ensure that external applicants and key OCC stakeholders are kept apprised regularly on the status of all new applications or expansions.
• Lead all critical meetings with the management of new applicants to communicate OCC credit decisions and / or protective covenants.
• Identify and prioritize risk management needs and lead development of new credit risk management systems and overall capabilities to continually enhance the onboarding process.
• Work closely with senior leaders on projects and cross-department collaboration.
• Lead, or serve as key SME on interactions with regulators, exchanges and other external parties related to the new applicant onboarding process.
• Formulate risk management policies consistent with risk management best practices.
• Participate in departmental and budget planning.
• Drive business results by continuously demonstrating a strong bias for action through ownership and accountability.
• Promote all culture, value, and competency initiatives, including a focus on achieving strong employee engagement results and leading efforts to address any significant gaps.
• Oversee 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.

Supervisory Responsibilities :

Qualifications :

Technical Skills :

Education & Training :

Certificates or Licenses :

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 counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms. More information about OCC is available at www.theocc.com.

Benefits :

Compensation :

Salary Range : $181,400.00 - $243,000.00

Incentive Range : 23% to 30%

This position is eligible for an annual discretionary incentive compensation award, for which the