Associate, Corporate Actions

To be considered for this position, applications and resumes are accepted only through our careers site by directly applying to the posted job. We do not accept unsolicited resumes or sales solicitations from staffing agencies. Any OCC employee wishing to submit a referral must do so through their Workday account. Any resume submitted outside of an active job posting will not be considered for employment.

What You'll Do:

This role is a key member of the Corporate Actions Department within Business Operations. This role will be on the team identifying corporate actions and determining how to adjust options and futures contracts according to the OCC By-Laws. This role will support efforts to research, track and monitor upcoming corporate actions. Analyze corporate action source material to determine appropriate contract adjustments according to OCC By-Laws and past adjustment precedent. Ensures appropriate process flow of corporate action analysis and OCC information memo development. Possesses basic knowledge in corporate action precedent to provide consistency to the market in adjustment execution. Assists in corporate actions processing, continually evaluates processes to identify, and assists with the implementation of process improvements to the corporate actions control environment.

Primary Duties and Responsibilities:

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

• Independently analyze corporate action information from various sources, including proxy statements, exchange notifications, SEC and company websites, and DTC to determine the consideration to be received by underlying security holders under the terms of a corporate action and how such consideration should be applied to corresponding option holders, as well as to identify any nuances associated with a corporate action that must be researched and presented to department management for review

• Make appropriate recommendations to department management regarding contract adjustment determinations

• Draft Information Memos for publication to the OCC website describing adjustments to the terms or characteristics of options and futures contracts, based on corporate action events or changes to the characteristics of underlying securities

• Acts with increasing autonomy and is expected to display significant business insight, OCC and industry knowledge and communication finesse in achieving results

• May represent OCC externally with exchange operations contacts

• Assists in the examination of business process design and review/update departmental job aids, procedures, process flows, and controls as needed

• Utilize subject matter expertise to support training of peers and external business partners

• Examine cash in lieu information from DTC to determine appropriate cash deliverable amounts. Communication with DTC may be required

• Assist in expiration tasks, including drafting expiration related information memos, as needed

• Work with external parties, including exchanges, vendors, and financial market utilities to confirm accuracy and finality of information related to securities underlying options and futures contracts

• Ensure updates to data for the clearing, risk, and settlement systems are accurate

• Process adjustments to cleared options and futures contracts and stock loan, option, and futures positions as a result of corporate actions affecting underlying securities

• Initiate continual improvement activities by analyzing department processes to identify and assist in implementation of processes improvements

• Analyze data to identify potential root cause of issues and propose possible resolution. Work with Internal and external parties to implement solutions and validate that solutions are successful

• Maintain and test the robustness of the Operations Control Framework though comprehensive reviews of all related procedures, controls, and job aids for accuracy and adherence to the Policy Governance Policy (PGP), identifying and resolving any issues with documentation

• Leverage a technical understanding of OCC systems, messaging and processes to identify and resolve both internal and external system and messaging issues

• Understand and comply with applicable OCC Rules, OCC By-Laws, Agreements, National Market Plans, Policies, and Process Documents

• Represent department in ad-hoc projects and corporate projects to ensure that department and business partner needs are addressed

• Support Business Continuity Testing and Business Interruption Planning Activities

• Assist in corporate actions processing, as needed

• Participate in agile project methodology serving as a subject matter expert, test case developer, or tester, as needed

• Perform other duties as assigned

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.

• [Required] Basic knowledge of the financial industry

• [Required] Basic knowledge of corporate actions

• [Required] Ability to work with internal and external contacts to obtain and clarify information

• [Required] Ability to understand and succinctly describe complex financial events in writing

• [Required] Strong writing skills and proof reading skills

• [Required] Self-motivated and detail oriented

• [Required] Effective communication skills

• [Required] Strong work ethic and ability to use independent judgment

• [Required] Self-starter

• [Required] Strong organization skills

• [Required] Ability to multitask and adjust to changing priorities

• [Required] Ability to manage multiple tasks/projects and deadlines simultaneously, as well as shifting priorities

• [Required] Strong attention to detail and analytical skills including data analytics and reporting

• [Required] Strong interpersonal skills, including excellent written and oral communication capabilities

Technical Skills & Background

• [Required] Proficiency on email, MS Office, Word, Excel, PowerPoint packages

• [Preferred] Familiarity with Bloomberg, DTC, and the SEC website

Certifications

• None Required

Education & Training

• [Required] Undergraduate degree

• [Preferred] MBA or related graduate level course work

• [Preferred] 0-3 years of experience in securities or financial derivatives industry

• [Preferred] Experience in the operations of markets from a clearing organization, exchange or member firm perspective

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

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 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

Visit https://www.theocc.com/careers/thriving-together for more information.

Compensation

• The salary range listed for any given position is exclusive of fringe benefits and potential bonuses. If hired at OCC, your final base salary compensation will be determined by factors such as skills, experience and/or education.
• In addition, we believe in the importance of pay equity and consider internal equity of our current team members as part of any final offer.
• We typically do not hire at the maximum of the range in order to allow for future and continued salary growth. We also offer a substantial benefits package as noted on www.theocc.com/careers
• All employees may be eligible for a discretionary bonus. Discretionary bonuses are based on various factors, including, but not limited to, company and individual performance and are not guaranteed.

Salary Range

Incentive Range

This position is eligible for an annual discretionary incentive compensation award, for which the target range is listed above (see Incentive Range). The amount of such award, if any, will be based on various factors, including without limitation, both individual and company performance.

Step 1
When you find a position you're interested in, click the 'Apply' button. Please complete the application and attach your resume.  

Step 2
You will receive an email notification to confirm that we've received your application.

Step 3
If you are called in for an interview, a representative from OCC will contact you to set up a date, time, and location. 

For more information about OCC, please click here.

OCC is an Equal Opportunity Employer