CHICAGO, December 01, 2022--(BUSINESS WIRE)--OCC, the world's largest equity derivatives clearing organization, today announced that Vishal Thakkar, currently Acting Chief Risk Officer, has been officially appointed the Chief Risk Officer (CRO), effective immediately. Thakkar is responsible for implementing OCC’s risk management framework and serves on the Management Committee.
"Vishal has been key to our efforts to strengthen OCC’s resiliency," said John Davidson, OCC Chief Executive Officer. "We’re confident that his knowledge and expertise will ensure OCC continues to provide a strong, independent and collaborative ‘second line of defense’ as part of our obligations as a Systemically Important Financial Market Utility."
Andrej Bolkovic, OCC Chief Executive Officer-Elect, noted, "Vishal has been a collaborative partner to many in the organization and the industry during his impressive career. We are pleased he has agreed to serve as our Chief Risk Officer as we continue our focus on operational excellence and ensuring confidence in the financial markets and the broader economy."
Thakkar has nearly 20 years of industry risk management experience and previously led OCC’s Enterprise Risk Management function. He has also held leadership roles at OCC in Financial Risk Management and Internal Audit.
He earned both a bachelor’s degree in information systems and an MBA in entrepreneurship from DePaul University. A member of the Institute of Internal Auditors and ISACA, Thakkar has been a regular speaker at industry events. He is a Certified Information Systems Auditor and a Certified Fraud Examiner.
Craig Donohue, OCC Executive Chairman, added, "Our Board and I value Vishal’s counsel, perspective and leadership and are gratified that he will serve as our organization’s CRO. We look forward to continuing to work with Vishal in this well-earned role."
The Options Clearing Corporation (OCC), named Risk Magazine’s 2022 Clearing House of the Year, is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms. More information about OCC is available at www.theocc.com.
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