CHICAGO--(BUSINESS WIRE)-- OCC, the world’s largest equity derivatives clearing organization, today announced several promotions to its leadership team.
“To fulfill its role as an effective and efficient Systemically Important Financial Market Utility and serve as a forceful advocate for the U.S. exchange-listed options industry, OCC must be seen as a destination for top talent,” said Craig Donohue, OCC Executive Chairman and CEO. “Through the work of our entire team, OCC has been able to attract and retain very knowledgeable individuals across a wide range of expertise who are adding value to the work we do every day for market participants.
“This work has allowed OCC to develop a deep and talented team of colleagues across the company who are contributing greatly to the ongoing success of OCC and our industry. It reflects well on our company when we can recognize and promote those colleagues who are performing at a high level and serving the needs of OCC and market participants. It is in this light that I am pleased to announce the following promotions or new responsibilities.”
- Jim Kustusch, currently Senior Vice President, Operations, is being promoted to Executive Vice President, Strategic Clearing Initiatives – Functionality. As OCC moves forward with the ENCORE technology replacement, Kustusch will draw on his 32 years of experience at OCC, including with the INTRACs (OCC’s prior core clearing system) to ENCORE transition, in ensuring that all current and anticipated future business functionality needs are met. He will continue to report to John Davidson, OCC President and Chief Operating Officer.
- Jean Cawley, currently Senior Vice President, Senior Adviser to the Executive Chairman and CEO, is being promoted to Executive Vice President, Senior Adviser to the Executive Chairman and CEO. She will take on expanded responsibilities to include supporting the Office of the CEO in promoting an increased focus on diversity and inclusion opportunities at OCC. Cawley, who has worked at OCC for 28 years, and Tracy Raben, OCC’s Chief Human Resources Officer, will work with OCC’s Human Resources team to formulate and execute plans to better promote diversity and inclusion across the company.
- Dan Busby, currently First Vice President, Business Operations, is being promoted to Senior Vice President, Operations, where he will be responsible for national operations, corporate actions, membership services and collateral services. An 18-year veteran of OCC, Busby will report to John Davidson.
- David Prosperi, currently First Vice President, Public Relations, Corporate Communications and The Options Industry Council (OIC), is being promoted to Senior Vice President, Public Relations, Corporate Communications and OIC. Prosperi has been instrumental in furthering OCC’s efforts to transition from a low profile market utility to a high profile industry thought leader, which has had a significant and positive impact on enhancing OCC’s brand, reputation and the stature of OCC’s leadership. He will continue to report directly to Craig Donohue.
- Denise Knabjian, currently Vice President, Process Innovation, is being promoted to First Vice President, Process Innovation, where she is responsible for leading the teams implementing digital solutions that transform OCC’s manual processes and work. Knabjian, who has worked at OCC for 20 years, will continue to report directly to John Davidson.
- Kirstin Wells, currently Vice President, Enterprise Risk Management, is being promoted to the newly created role of First Vice President, Regulatory Policy. She will be responsible for analyzing regulatory and policy initiatives and working with OCC management to formulate OCC’s policy positions. Additionally, Wells will establish a function whose purpose will be to monitor, evaluate and communicate internally and externally the impact of regulatory changes on OCC and the industry. She will report to Julie Bauer, Senior Vice President, Government Relations.
- Megan Cohen, currently Vice President and Associate General Counsel, is being promoted to First Vice President, Associate General Counsel and Corporate Secretary, where she will maintain her current regulatory counsel responsibilities while expanding her scope to take on corporate governance-related activities for OCC’s Management Committee and Board of Directors. She will now report directly to Joe Kamnik, Senior Vice President and General Counsel.
- Carole Bovard, currently First Vice President, Compliance Advising, is taking on a new role as First Vice President, Regulatory Relationship Management and Reporting. This role will allow OCC’s leadership team to have even greater visibility and line of sight into managing its regulatory exam obligations and commitments, as well as a deeper understanding of the regulatory reporting requirements across OCC. Bovard will now report directly to John Davidson.
- Luke Moranda, currently Senior Vice President and Senior Special Information Technology Adviser, will take on a newly created position as Senior Vice President, Strategic Clearing Initiatives – Technology. Moranda will oversee the highly complex information technology elements of OCC’s ENCORE replacement project. He will continue to report to John Davidson.
- John Waris, currently Senior Business Analyst, is being promoted to Director, Strategic Planning, where he will be responsible for furthering OCC’s strategic planning process, including conducting analyses to identify opportunities and threats to enhance OCC’s strategic positioning. He will continue to report directly to Chip Dempsey, Senior Vice President and Chief Commercial Officer.
OCC is the world's largest equity derivatives clearing organization and the foundation for secure markets. Founded in 1973, OCC operates under the jurisdiction of both the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. Named 2016 Clearinghouse of the Year - The Americas by FOW Magazine and 2016 Clearinghouse of the Year by Global Investor/ISF Magazine, OCC now provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms for options, financial futures, security futures, and securities lending transactions. More information about OCC is available at www.theocc.com.
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