CHICAGO, Dec. 31, 2014 (GLOBE NEWSWIRE) -- via PRWEB - OCC announced seven officer promotions today including some as part of a reorganization supporting the company's efforts to meet the heightened expectations of regulators and market participants for systemically important clearing houses like OCC.
Jim Kustusch to Senior Vice President, Operations from First Vice President, Business Operations. In his new role, he will be responsible for the National Operations, Corporate Actions, Membership Services, Collateral Services, Project Management and Product Development areas. Jim will also oversee management of the newly formed Business Operations and Controls Group.
Carole Bovard to First Vice President, Compliance from Vice President, Compliance. She will continue to guide OCC to meet regulatory requirements as well as head up ethics and compliance training programs.
Dan Busby to First Vice President, Business Operations and Management Controls from Vice President, Project Management Office. In his new role, he will continue to oversee the Project Management Office while also assuming responsibility for the newly formed Business Controls Group as well as Deployment, External and Internal Certification Testing, Technical Writing, Release Management and Remediation Management.
Jeffrey Douglas to Vice President, Technology Services from Director, Storage Services & Enterprise Systems Management. In his new role, he will assume the added responsibility for the Database Services team while continuing to hold responsibility for Network Services, the Infrastructure Architecture Working Group and lead the Architecture & Standards Council.
Matt Hughes to Vice President, Executive Liaison to the Chairman from Director, Executive Liaison to the Chairman. He will continue to manage complex initiatives and take on higher level responsibilities, providing leadership on many strategic plans and executive projects.
Larry Leonard to Vice President and Associate General Counsel from Director and Assistant General Counsel. He will continue to lead the Administration and Communications practice unit within the Legal Department and is responsible for counseling and advising a variety of business units within OCC. This includes the teams responsible for vendor management and procurement of technology, licenses, assets and third-party services; human resources and administration; and corporate communications, including OCC's management of The Options Industry Council's educational and marketing programs.
Sheila Zak to Vice President, Member Services from Director, Member Services. In her new position, she will continue to oversee the Member Services team. Additionally, she will expand her focus on project implementation and contribute to the development of Member Services' operational strategy.
About OCC
OCC is the world's largest equity derivatives clearing organization. Founded in 1973, OCC operates under the jurisdiction of both the Securities and Exchange Commission (SEC) as a Registered Clearing Agency and the Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. OCC now provides central counterparty (CCP) clearing and settlement services to 16 exchanges and trading platforms for options, financial futures, security futures and securities lending transactions. More information about OCC is available at http://www.theocc.com .
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