The Options Clearing Corporation (OCC) has appointed Vishal Thakkar as chief risk officer, effective immediately.
Based in Chicago, Thakkar is responsible for implementing OCC’s risk management framework and serves on its management committee.
Thakkar brings nearly 20 years of industry risk management experience to the role, including his former role as acting chief risk officer.
He previously led OCC’s enterprise risk management function, in addition to holding leadership roles at OCC in financial risk management and internal audit.
Joining OCC in 2006 as vice president of internal audit, Thakkar previously held a number of roles at Southern Company Gas, Accenture and MCI.
CEO of OCC John Davidson says: “Vishal has been key to our efforts to strengthen OCC’s resiliency.
“We are confident that his knowledge and expertise will ensure OCC continues to provide a strong, independent and collaborative ‘second line of defence’ as part of our obligations as a financial market utility.”
Andrej Bolkovic, OCC’s CEO-elect, adds: “Vishal has been a collaborative partner to many in the organisation 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.”
