OCC Reviews | Glassdoor

Find your next job here

OCC Reviews

Updated January 3, 2018
98 reviews

Filter

Filter

Full-timePart-time

2.2
StarStarStarStarStar
Rating TrendsRating Trends
Recommend to a friend
Approve of CEO
(no image)
Craig S. Donohue
12 Ratings

98 Employee Reviews

Sort: PopularRatingDate

Pros
  • Great work life balance a Quant can dream of (in 8 reviews)

  • For an internship, the pay was really good and the work environment was positively uncharacteristic of the normal internship (in 7 reviews)

Cons
  • Also, the work-life balance is horrible (in 5 reviews)

  • Extremely high turnover instigated by Chairman to rid the organization of anyone voicing counter arguments or improvements to his proposals (in 7 reviews)

More Pros and Cons

  1. Featured Review

    Helpful (8)

    "A great place to be challenged"

    StarStarStarStarStar
    • 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

    I have been working at OCC full-time

    Pros

    There are quite a few opportunities to challenge yourself here, whether it is meaningful projects or new ways of thinking. The pace is very fast, with lots of deliverables, not a place where one is ever bored.

    Cons

    The rapid pace of change in a company with a lot of history is not always easy. Lots of competing priorities and one needs to be well organized and flexible, as what you are doing today will likely change in priority tomorrow.

    Advice to Management

    Keep driving forward, make sure your line managers and supervisors are informed and communicating with their teams.


  2. Helpful (3)

    "Amazing Employer"

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

    I have been working at OCC full-time (More than a year)

    Pros

    I know this place is not like it was before (based on stories I hear from coworkers), but ut is definitely one of the best placed I ever worked.

    Cons

    Sometimes, it is really difficult to get a handle on all of the work because I feel like I run from fire to fire. I would like to be able to be more proactive in handling these things, so that my work is more manageable and predictable, which can totally be,

    Advice to Management

    Keep up the amazing total rewards and employee retention strategy. You all have rolled out some very helpful policies lately. I really appreciate it and hope to do my part to the best of my abilities!

  3. Helpful (5)

    "Nice place with nice colleagues"

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

    I worked at OCC full-time (More than 3 years)

    Pros

    Generous vacation
    At the time, 100% employer-paid benefits
    Good office location
    Fun office events

    Cons

    Leadership was constantly changing
    New Chairman was changing culture rapidly, without proper regard for the old ways

    Advice to Management

    Please implement change in waves that make sense for the company and your employees. Change can be good but it has to make sense and allow for proper adoption times.


  4. Helpful (1)

    "CIO is a thought provoking leader, all talks of a rookie"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Confidential in Dallas, TX
    Former Employee - Confidential in Dallas, TX
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at OCC full-time (More than 3 years)

    Pros

    No CHANGE EVER IN THIS PLACE

    Cons

    CIO is getting his cronies to gain control of all aspects of CCRA. Good Luck.
    CCRA HEAD BEWARE!

    Advice to Management

    KEEP UP THE GOOD WORK


  5. Helpful (10)

    "A good company going bad"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Senior Management
    Current Employee - Anonymous Employee in Chicago, IL
    Current Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend

    I have been working at OCC full-time (More than 8 years)

    Pros

    For employees that worked at OCC 5 plus years ago, this company is unrecognizable from how it was before.

    Cons

    No work-life balance
    High turnover rate
    New management ineffective
    Overall attitude of employees is negative

    Advice to Management

    Treat the employees like they really matter, not like they aren’t just people filling tasks.


  6. Helpful (14)

    "An example of when change doesn't work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at OCC full-time (More than 10 years)

    Pros

    The Chicago office is in a good location near public transportation. They final incorporated sick time and vacation time into one.

    Cons

    There is a lot of turnover going on in all departments. Several departments have had 100% turnover of staff and the C suite is now on it's third round of executives. This is leading to a lack of knowledge in how the systems operate and in turn it is causing problems. There are only a handful of subject matter experts left and if they leave or on vacation and a problem occurs, OCC will be in big trouble.

    If you work on the business side, you will spend most of your day sitting around doing nothing or at best busy work. Most of the work can be done in a few hours or less. As other have said in review here, a large nember of management has been replaced with ex-CME people so your changes of advancement are slim to none.

    If you work on the IT side, be perpared to work some long hours with the monthly disaster recovery tests, production changes and password changes that need to be done. If you are a skilled professional, then this is not the place for you as your day to day job will consist of doing paperwork 80% of the time.

    The bread and butter system for OCC, ENCORE is now 18 years old. Upper management has kicking the can down the road in either replacing it or making changes to it to modernize it. There has been a constant shift it priorities and this is having a big impact on the system. Younger people don't want to work with this outdated technology and the older people have left placing a strain on the remaining staff. Simple system changes that use to take a week of less are now taking months to make. And when they are made, they aren't right.

    The corporate culture is terrible and moral is at an all time low. Management made a pitch a few years ago to change it but it didn't work so now they are trying something different that most likely won't work either. The problem is that they came in a said that everything that OCC did for the past 40 years was wrong and that no one knew what they were doing and they were going to fix it. They fixed it alright, you just may find this one in the text books on what NOT to do with a company!

    Advice to Management

    It's too late, the train has left the satiation.


  7. Helpful (12)

    "Second line"

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

    I worked at OCC full-time

    Pros

    High turnover = opportunity to move up

    Cons

    High turnover
    Lack of executive accountability in regards to remediating findings and building effective departments
    Company objectives and direction are not specially applied to projects or company efforts.

  8. Helpful (5)

    "Vice President"

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

    I have been working at OCC full-time (More than 3 years)

    Pros

    There are plenty of opportunities for the right people. OCC is in great need to improve and everyone willing to put the time to help and suffer the pain of getting it better will definitively be rewarded with a unique learning experience and fast career progression.

    Cons

    This place is not for everyone. OCC needs committed people willing to navigate through a company in deep change. You need a high tolerance for risk and change to succeed here!

    Advice to Management

    Many recent changes in leadership are welcome and will help OCC improve... but others are over their heads. OCC leadership has to be ready to recognize who is over their head and move them fast. OCC cannot sustain incompetent leadership anymore, you are almost there, just a few more to clean and the job is done!


  9. Helpful (23)

    "Glassdoor article tells you why to avoid OCC"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at OCC full-time

    Pros

    There is Glassdoor article published on Oct 12 that describes the seven types of companies you should never work for and OCC fits five of the types. The only good news is the company didn’t fit all seven.

    Cons

    The five types that fit OCC are
    1) The High Turnover Outfit (read the other reviews)
    2) The Culture Clash Corp (there has been a culture project underway for two years and it is a bad joke among employees)
    4) The Top Heavy Business (lots of emphasis of taking care of senior managers with only scraps for everyone else, including a double standard on work-from-home. They can come and go whenever it is convenient for them but you better be in your cube)
    5) The Perpetual Promisor (CEO promises lots of good things but they never show up)
    7) The Directionless Ship (ask a senior manager about future plans and see if they are able to say anything. Ask a typical employee about future plans and you will probably get a blank stare.

    Advice to Management

    The only two good types are (3) Curb Appealer as the new offices are nice but overcrowded and (6) The “Stagnator” because there a lots of learning opportunities given the high level of turnover.
    Read the other reviews to confirm these comments.


  10. Helpful (18)

    "Less than zero"

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

    I have been working at OCC full-time (Less than a year)

    Pros

    Barely any skill or knowledge required to perform any job within - particularly at the management level and above. If I could give negative stars I would. This place is a zero based on capability and negative when you consider how fake the place is.

    Cons

    * As it stands today, the OCC is a rent-seeking organization that provides no added value to the industry. It is merely a backdoor fee generator for the owner exchanges and its clearing members.
    * The entire company is a series of smoke and mirrors, designed to over-complicate what is really very simple - clearing options and monitoring margin risk. The trades are already matched...just put them in the right account and monitor risks...but apparently we need 800+ people and bloated budgets to give the appearance of expertise in that regard?
    * Full of self-proclaimed "experts" who know next to nothing about the business.

    Advice to Management

    Stop lying to the staff and to the public. You guys don't know anything about risk management nor are you working toward improving capital efficiencies for market participants. Keep lining your pockets with other people's money for no reason and someday it is going to bite you in the rear.

    Your capital plan is a joke. But hey, why not open it up to employee contributions? I wouldn't mind 30% dividends, annually! (That is what skin in the game really means, anyway...)
    Your fees are a joke.
    You are a joke.

    More to come. I have to get back to happy thoughts now.

    PS Stop posting fake reviews on glassdoor - it is obvious.


Showing 98 of 117 reviews
Reset Filters