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Director, Compliance Risk Analytics & Reporting
Options Clearing Corporation
Chicago, IL, United States
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Job Details:
Summary:
OCC’s Compliance Department is comprised of four functional areas. This role resides in the Regulatory Compliance area and is directly responsible for identifying, developing and executing compliance data and risk analytics within the organization. This includes the development of analytics for Compliance’s monitoring programs and using the data to develop insightful reporting to management stakeholders, the Board of Directors and regulators. The role is responsible for identifying and developing technological solutions for automating the analytics, reporting and monitoring activities. It is also responsible for identifying new data sets throughout the organization, executing compliance risk assessments and overseeing compliance testing activities.
Essential Duties and Responsibilities:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
Risk Analytics & Reporting
• Design, develop and execute a comprehensive compliance monitoring program across all four functional areas within the department; this includes identifying relevant data sets, developing and onboarding any necessary databases or other technologies, identifying and developing a user interface, establishing queries and metrics, and developing and automating user dashboards and reporting;
• Work with the business and other Compliance team members to assess existing technologies and data sets, and determine how they can best be used to drive analysis and inform decision-making for Compliance and the business
• Conduct analyses, formulate insights, and synthesize findings for presentation to management and other stakeholders
• Work with the business and other Compliance team members to develop tolerances and thresholds, as needed, for data elements, along with escalation protocols for exceptions
• Automate processes for sourcing real-time data feeds
• Develop a user interface for analyzing data, executing monitoring activities and reporting
• Develop and execute a backtesting model to understand and help ensure the accuracy of data
• Execute the annual Compliance Risk Assessment; develop more quantitative inputs when executing the methodology; develop capabilities to produce new results in near real-time based on changes to the compliance environment, data inputs or other relevant factors
• Develop sustainable, automated reporting for a variety of audiences including management, the CCO, Board of Directors and regulators
• Mentor and train Compliance team members on data analytics and supporting technology
Compliance Testing
• Develop, execute and oversee the Compliance testing program components, specifically focused around review of findings remediation and regulatory compliance change management activities
• Review deliverables from Compliance team members and / or third parties executing testing program to ensure accuracy, completeness and appropriateness of conclusions
General
• Provide compliance guidance to business teams concerning the remediation of model- and analytics-related compliance issues that arise regulatory examinations and internal control group findings
• Interact and communicate in a highly effective, professional, and insightful manner with business colleagues within the company, as well as regulators, and other third parties
• Exhibit and foster a strong collaboration across OCC’s control functions (i.e., internal audit, enterprise risk management, compliance, model validation)
• Present findings of the regulatory compliance monitoring program and testing results to management, the CCO, Board and regulators, as needed
• Assist in the writing of the annual compliance report, as well as other ad hoc and regularly occurring reports
Supervisory Responsibilities:
• Supervise 2-3 Compliance Analysts / Officers with respect to the risk analytics and reporting responsibilities
• Supervise 3-4 Compliance Analysts / Officers with respect to the compliance testing responsibilities
• Prioritize and distribute assignments, projects and initiatives to ensure delivery of work product to accomplish objectives and goals
• Develop and foster a high-performing culture that provides learning and continuous improvement opportunities for staff
• Execute supervisory activities including performance reviews, corrective action documentation, and other tasks as needed
Qualifications:
• Substantial experience working with and analyzing data sets
• Substantial experience working with analytical and quantitative software packages and supporting technologies
• Substantial experience coding and developing business requirements for algorithmic and other quantitative modeling solutions
• Ability to assess problems, develop alternatives and creatively identify solutions to complex issues
• Working knowledge of securities and commodities rules and regulations
• Strong working knowledge of compliance best practices
• Excellent organizational and communication skills
• Ability to work across teams and varying subject matter experts to develop requirements and analyze data
• Ability to manage and prioritize assignments and respond to rapidly shifting priorities.
• Ability to work independently and as a member of a team, collaborating with internal business clients at various levels of seniority
• Must be able to work under deadlines and manage multiple tasks simultaneously
Technical Skills:
• Proficiency MS Office software and web-based reporting tools
• Understanding of technology and underlying databases
• Experience working with technology and underlying databases, SAS and/or SQL
• Experience with BI systems and data reporting tools, specifically Tableau
• Archer eGRC experience preferred
Education and/or Experience:
• 5+ years compliance or quantitative analysis / data analytics / business intelligence roles
• Bachelor’s degree in Finance, Accounting, Information Systems or related discipline; advanced degree preferred
Certificates or Licenses:
TBD
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Step 3
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OCC is an Equal Opportunity Employer