principal

director

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executive director

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Options Clearing Corporation

No direction from executive/senior management.  The company still doesn't have a strategic plan/vision in place (after years of being told from personnel that they don't understand the direction of the company).  They are going on a hiring binge without a clear vision (always a disaster waiting to happen).  Even with the hiring binge, people are hired, stick around for 10 months and leave.  Why?  Because the company doesn't know how to hire the 'right people' because of this lack of vision.  This coupled with 'voluntary' retirements from existing personnel and outright firings that are not based strictly on performance.  Even people who have been hired recently are let go in under a year.  

Executive Management is hiring/firing at the same time without a vision of what the end state should look like. Extremely unstable environment with zero job stability. You can be let go on a whim as the Executives treat the company as a 'mom and pop' store and make decisions on a whim without careful considerations on impact or consequences. Stay away from this company until management figures it out and wait for the company to stabilize.

The job consists of writing sql queries, lots of documentation, screen mock ups, and integration testing. At the OCC I worked in teams, once as a lead of other interns, and got a real taste of what is like to be in the business world. Both coworkers and management are kind and helpful for the most part. The hardest part of the job is coming up with the creative solutions needed for some of the different problems that arise in the OCC's type of business. The most enjoyable part of my job at the OCC were the people here and the relatively relaxed working environment for being a financial company.

As a member of the help desk call center, phones were transferred from the data center to the help desk. 

Daily log activity preparation (internal)

All calls were received, answered, and logged via Salesforce through out the day.  

Call inquiries involved corporate actions, intranet Encore assistance

Assigned clearing member duties addressed; 10 firms assigned

Machine readable job requests were handled

Internal team meeting agenda preparation

It was an excellent learning opportunity and I developed my skills and experience in numerous different ways. While I already had strong IT skills, I didn’t have any previous experience of Microsoft Access. When my employer introduced a new order management system which used Access they gave me the opportunity to undertake additional training so as to be able to work effectively with this. I was then able to put this training into practice on a day-to-day basis and I am now extremely adept at using the package. I also learned a great deal about handling customers.

I worked with intelligent and supportive personnel-both co-workers and upper management. The work was interesting and challenging. 
The  most difficult aspect of the work was the hourly deadlines and the responsibility of 300 billion dollars! The most enjoyable aspect was dealing with clients, all over the U.S., with whom I enjoyed talking with and helping them accomplish their goals.

OCC, founded in 1973, is the world's largest equity derivatives clearing organization. OCC is dedicated to promoting stability and financial integrity in the marketplaces that it serves by focusing on sound risk management principles. By acting as guarantor, OCC ensures that the obligations of the contracts it clears are fulfilled.

Dynamics are changing but employee are stuck with old mind set. Its very stable and continues to remain the same.

I have been with the company for over 30 years.  I have enjoyed my tenure there.

In the beginning of my career at OCC it was "family" oriented and I enjoyed going to work every day.  Over the past 5 years the company has changed...new CEO and corporate management.  Hiring more and more employees to where the company doubled in size.  The "family" feel was no longer there.  All the original employees either retired or was let go myself included.

Days at OCC are not boring, there is a lot coming at you each day but there are also many people willing to help.  There have been clear messages about what to focus your time on, and for those who enjoy variety there is plenty to be had here.

If you are organized and flexible and embrace challenges this is a fantastic place to work where you can be visible and make a difference.

Stable company and overall a good place to work with competitive benefits. Leadership places heavy emphasis on 3 days in office, including required anchor days on Tuesdays and Wednesdays. Performance ratings are taken seriously, with additional year-end review criteria recently added. Experience can vary a lot by manager - good leadership makes a difference. Advancement can be slow, and internal politics can sometimes make growth challenging. 

The company still does its main function, but has lost quite a few people that made it the gem of the clearing industry.  For instance, they held an all-company meeting on a quadruple-witching expiration Friday.  This is something that just isn't done with the primary function of clearing in mind.

Top Job Titles	Average Salary
Principal 19 salaries reported	$155,579 per year
Director 7 salaries reported	$197,843 per year
Senior associate 9 salaries reported	$102,922 per year
Executive director 4 salaries reported	$246,500 per year
Software engineer 3 salaries reported	$97,500 per year

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