Total Rewards Package
To achieve our mission of promoting stability and market integrity through effective and efficient clearing, settlement and risk management services, OCC must attract, develop and retain highly qualified and dedicated employees. OCC's Total Rewards strategy reflects our mission and is designed to provide market-competitive Total Rewards, with appropriate discretionary bonus opportunities when superior business and expected individual performance are achieved.
Our Total Rewards package includes:
- Total Cash - Competitive base pay and discretionary bonus opportunities with linkage to individual and business performance
- Benefits - Attractive health and welfare, retirement and other benefit programs to help ensure the well-being of our employees
- Health Insurance
OCC employees are eligible for health insurance the first of the month following date of hire. Medical, dental, vision health plans are subject to a market competitive premium.
- Life Insurance and Disability
Employees are eligible for Life and Accidental Death & Dismemberment (AD&D) insurance the first of the month following date of hire. Disability benefits are available after one year of continuous employment. All basic life, accident, and disability plans are paid by OCC. Employees and family members can purchase additional life and accident insurance.
- Retirement Savings
A long-term savings program that provides before-tax or after-tax savings, OCC matching contributions, profit-sharing contributions and tax-deferred investment growth is available first of the month following date of hire. Participants can invest in plan investment funds, make changes and track investments daily online or through an automated phone system.
OCC matches 50 cents for every 1 dollar saved by the employee, up to the first 6% of pay contributed.
- Profit Sharing Contributions
In addition to company matching contribution, OCC may contribute a percent of compensation to all eligible employees each calendar year based upon industry and company performance.
- Flexible Spending Accounts
Employees are eligible to elect to have a portion of each payroll check withheld to use for health care expenses and/or dependent daycare expense the first month following date of hire. The portion withheld is not subject to federal, state or FICA taxes.
- Commuter Benefit Program
Eligible employees can use pre-tax income to pay for monthly transportation and/or parking expenses from the date of hire. (Chicago, New York and Washington, D.C. offices only)
- Pre-Tax Benefits
A long-term savings program that provides before-tax or after-tax savings, OCC matching contributions, profit-sharing contributions and tax-deferred investment growth is available first of the month following date of hire. Participants can invest in plan investment funds, make changes and track investments.
- Special Services
Employees are entitled to special discounts offered by OCC vendors.
- Awards Programs
- Employees can receive awards for years of service as well as outstanding performance.
- On each fifth year anniversary, employees will receive a service recognition gift.
- Employees are also eligible to receive recognition certificates based on outstanding performance by their department management as well as other department management.
- To further our efforts, we encourage and support behavior aligned with our Values, by awarding Chairman's Awards to recognize and reward employees whose outstanding performance and contributions have significantly contributed to strengthening our resiliency and fostering an environment of effective risk management and compliance.
- Employee Assistance Programs
Counseling service through an outside provider is available to employees to assist with family problems, career counseling, substance abuse, coordination of child care and elder care services and other areas.
- Paid Time Off Plans
- Paid Holidays - OCC offices are closed when all U.S. exchanges are closed. There are currently nine designated paid holidays.
- Paid Time Off - OCC's current policy provides for a certain number of paid days based on an employee's tenure with the organization that are required to be used within the calendar year in which they are earned.