OCC secures McCormick for new risk management role
29 June 2017 Chicago
Image: Shutterstock
OCC has brought on Amy McCormick into the new role of first vice president, financial risk management, effective immediately.
McCormick joins OCC from the National Futures Association (NFA) where she was a managing director responsible for a multi-divisional $60 million programme to overhaul clearing risk management systems and oversaw examinations, investigations, and risk management teams.
She will report to Dale Michaels, executive vice president, financial risk management.
Prior to the NFA, McCormick served as an executive director at CME Group in risk management from 2012 to 2015 where she led a successful initiative on real-time risk management.
According to OCC, McCormick's work turned a slow batch process into the ability to view exposures on updated positions and prices in under a second to be able to detect, analyse, and mitigate any risk management concerns.
鈥淎s a systemically important financial market utility, we must have the right people in the right roles to help OCC to ensure confidence in the financial markets and the broader economy,鈥� said Craig Donohue, OCC Executive chairman and CEO.
鈥淎my McCormick鈥檚 22 years of experience in risk management for a self-regulatory organisation and a major global derivatives exchange will help OCC in its continued efforts to reduce systemic risks, increase transparency, and provide capital and collateral efficiencies for market participants.鈥�
McCormick joins OCC from the National Futures Association (NFA) where she was a managing director responsible for a multi-divisional $60 million programme to overhaul clearing risk management systems and oversaw examinations, investigations, and risk management teams.
She will report to Dale Michaels, executive vice president, financial risk management.
Prior to the NFA, McCormick served as an executive director at CME Group in risk management from 2012 to 2015 where she led a successful initiative on real-time risk management.
According to OCC, McCormick's work turned a slow batch process into the ability to view exposures on updated positions and prices in under a second to be able to detect, analyse, and mitigate any risk management concerns.
鈥淎s a systemically important financial market utility, we must have the right people in the right roles to help OCC to ensure confidence in the financial markets and the broader economy,鈥� said Craig Donohue, OCC Executive chairman and CEO.
鈥淎my McCormick鈥檚 22 years of experience in risk management for a self-regulatory organisation and a major global derivatives exchange will help OCC in its continued efforts to reduce systemic risks, increase transparency, and provide capital and collateral efficiencies for market participants.鈥�
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