Business continuity tops the risk list for Options Clearing Corp
A series of natural and man-made disasters have highlighted the importance of business continuity for OCC's chief risk officer
Business continuity is high up on the operational risk list for Options Clearing Corporation (OCC), which clears four billion US equity options contracts each year in Chicago. Chief risk officer John Grace says the experience has taught him the value of guarding against natural – and man-made – disasters that could disrupt operations.
"Hurricane Sandy taught us a lesson that was a really hard lesson – that we had to be able to function remotely," he says.
OCC conducts frequent testing of its
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