Options Clearing Corporation Reviews

Updated August 25, 2015
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3.2
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Michael McClain
1 Rating

23 Employee Reviews

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  1. Controls Specialist

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Working as a controls specialist is made easier when security is managed from the top down and expectations are set from a pertinent CIO. This allows one to work with, instead of against, the managers to properly document and maintain all related controls.

    Cons

    The entire IT side of the company is in flux. New executive leadership combined with an outflow of middle management has caused a pretty large wave of change that has yet to settle.


  2. Good going bad

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Options Clearing Corporation full-time

    Pros

    Good company overall, but going in the wrong direction as far as employees are concerned. If your applying for a job then apply for the most senior role possible.

    Cons

    Benefits and bonuses being reduced, work hours increasing. If you work their already you are not up for a more senior position (see Pros).

    Advice to Management

    Mike McClain should appreciate his employees efforts more than he shows in his quarterly presentations. Listening to him talk about allocating monies away from employees benefits to "better things" is not particularly motivating.


  3. Good Company

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Engineer
    Current Employee - Engineer
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Management trust employees budget and carryout projects. Open door policy throughout company. Team based environment a were all in it together attitude from Vice Presidents to interns

    Cons

    Management in flux a lot of movement. Not all employees are being used their full potential. Lack of training when being assign to project.

    Advice to Management

    Listen to employees about training and amount of time it takes to complete projects trust. Remember there is only 24 hours in the day. Offer more training


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  5. Helpful (1)

    Good Company

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Options Clearing Corporation full-time

    Pros

    Smaller company feel with great people. Exposure to senior leadership, great location for commuters, great benefits, good employee events, townhalls, opportunities to move around the company even though it is smaller, improving training opportunities. I've really enjoyed my time here and look forward to a lot of good future change. It's also a niche company with few competitors.

    Cons

    Due to heightened regulatory oversight from the SEC and Federal Reserve, there is A LOT of change at the moment. A lot of new employees, including senior leadership. I see it as an opportunity to provide input and help drive process improvements. The changes, and some turnover in staff, can lead to work life balance issues.


  6. It was decent for awhile....

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Collateral Services Specialist (Treasury)
    Former Employee - Collateral Services Specialist (Treasury)
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Options Clearing Corporation full-time (More than 3 years)

    Pros

    The business model was interesting. Lots of learning in the beginning and room for challenges. The company has a decent work/life balance.

    Cons

    The work is rather mundane. If you question the status quo you’ll be scrutinized by management. The pay is on the low end compared to market especially with them reducing benefits in Jan 2016. Middle management is terrible, unknowledgeable, and unappreciative. They are quick to steal the credit or jump down your throat when things go wrong. Very CYA mentality!

    Advice to Management

    Consider internal applicants before hiring external, limited experience, management. The turnover is becoming aggressive because of the poor leadership and limited opportunities.


  7. Quantitative Analyst

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Quantitative Analyst in Chicago, IL
    Current Employee - Quantitative Analyst in Chicago, IL
    Recommends

    I have been working at Options Clearing Corporation full-time (More than a year)

    Pros

    good company, everyone is friendly. family company

    Cons

    family company. sometimes, you will not have enough projects.


  8. Helpful (1)

    A wave of change

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Keller, TX
    Current Employee - Anonymous Employee in Keller, TX
    Doesn't Recommend
    Negative Outlook

    I have been working at Options Clearing Corporation full-time (More than a year)

    Pros

    Free medical insurance, work life balance

    Cons

    No decision rights, looking to hire from outside of company before promotions, ran like a gov't entity, employees are not developed, new hires not trained, disconnected management. 20% of company retired due to unfavorable conditions.

    Advice to Management

    Follow through with promises, promote from within


  9. Options Clearing Corporation in Chicago with secondary office in Fort Worth. Non profit company with no competitors.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT Worker in Fort Worth, TX
    Current Employee - IT Worker in Fort Worth, TX
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Options Clearing Corporation full-time (More than 5 years)

    Pros

    IT is heart of company that pushes trading option orders through the pipes. Consistent bonus program and easy to trade comp days for off hours work. Bread and butter are stable and proven applications that settle the options. For this year, full employer paid medical insurance, but, talks that will end soon.

    Cons

    Nonprofit model and no real product distracts team motivation. Strict remote work policies unless it's an off hours emergency and the company needs you. Fort Worth office needs updating.

    Advice to Management

    Stop reducing worker benefits Do reduce rate of changes affecting IT work processes Somehow show there's a product that everyone is contributing to


  10. Standard corporate office atmosphere

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Business Analyst in Chicago, IL
    Former Employee - Business Analyst in Chicago, IL
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Everyone is pleasant to work with. They offer a good benefits package and they're in a very convenient location in Chicago

    Cons

    If you're okay with dull gray cubicles and never conversing with your coworkers, then this is a good place for you. Not a very mind enriching atmosphere

    Advice to Management

    They generally do a decent job. Not a whole lot to complain about


  11. A great place to work!

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Consultant in Chicago, IL
    Former Employee - Consultant in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Options Clearing Corporation full-time (More than a year)

    Pros

    Great corporate spirit, with everyone pulling in the same direction.

    Cons

    Promotions were a bit limited given the relatively small size of the company.

    Advice to Management

    Keep up the good work!



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