OCC secures “top talent” Massimo Cutuli as Chief Financial Risk Officer

Rick Steves

“This appointment demonstrates our continued ability to attract top talent to further enhance our resiliency as a systemically important financial market utility that provides vital stability and risk management to the U.S. listed options market.”

OCC, the principal clearing organization for equity derivatives, has appointed Massimo Cutuli as the new Chief Financial Risk Officer-Elect. He is set to take over from the current CFRO, Dale Michaels, who plans to retire in March.

Cutuli brings over 25 years of experience in financial services and management consulting. His most recent role was as Chief Risk Officer at Optiver US LLC, where he managed various risk aspects, including market and operational risks, algorithmic trading controls, and capital optimization.

Cutuli’s career includes significant positions in several renowned firms. He was the Head of Risk for Citadel Securities, overseeing risk in multiple regions. His experience also extends to banking with roles at J.P. Morgan and Goldman Sachs. Additionally, he worked with PWC’s Finance and Risk Advisory practice and was a quantitative developer for Bloomberg LP.

OCC is a systemically important financial market utility

In his upcoming role at OCC, Cutuli will handle responsibilities encompassing market, credit, and liquidity risk, along with default management, customer margin methodologies, and model development. He will collaborate with Michaels and other OCC leaders to ensure a seamless transition.

Andrej Bolkovic, Chief Executive Officer at OCC, said: “We are very pleased to welcome Massimo to OCC’s leadership team. This appointment demonstrates our continued ability to attract top talent to further enhance our resiliency as a systemically important financial market utility that provides vital stability and risk management to the U.S. listed options market. Massimo’s expertise will help OCC further strengthen our risk management capabilities as we continue to enhance our service to market participants.”

Craig Donohue, OCC Chairman, said: “On behalf of our Board of Directors, I want to thank Dale for helping OCC achieve significant improvements in our approach to financial risk management during his tenure. He and his team were instrumental in developing our Financial Safeguards Framework, our new liquidity stress testing approach and the enhancement of our end-day settlement pricing algorithm. We thank him for his may contributions to OCC and wish him all the best in his retirement.”

  • Read this next

    Digital Assets

    Bitcoin nears $62,000, sparking retail buying frenzy

    Bitcoin dashed past the $61,000 barrier on Wednesday, a peak it hadn’t touched since the waning days of November 2021.

    Market News

    OPEC+ Extension of Oil Output Cut Causes Rally

    The dynamics surrounding crude oil are indeed fascinating, given its unique role as both a globally traded commodity and a vital energy source deeply influenced by the OPEC+ alliance’s decisions.

    Institutional FX

    DKK reports 226% growth in 2023 with eyes on African expansion

    “Our numbers are beginning to show how we are powering, the growth required by emerging markets, and we plan for the success of our strategies to continue to thrive in 2024.”

    Industry News

    ‘WTF’ as in ‘What The Fraud?’, Sumsub’s new podcast on digital fraud

    “We found a lack of informative podcasts talking about digital fraud threats and prevention for business owners. So, we decided to dive in and share our expertise along with industry top minds in the ‘What The Fraud?’ podcast.”

    Digital Assets

    Coin Metrics integrates market data from Cboe Digital

    “We are pleased to work with Coin Metrics and believe that having quality and timely data, and systems to analyze that data, will help crypto markets mature as well as evolve to become a core component of a diversified investment portfolio. We are focused on providing access and solutions to the spot and derivatives crypto market in a way which mirrors an investor’s experience with traditional markets.”

    Fintech

    AU10TIX launches KYB solution to address regulatory requirements

    “Our customers have been requesting a comprehensive KYB solution, because money laundering and fraud have become far too prevalent in the corporate world. Our unified KYB/KYC solution is essential for identifying bad actors and maintaining a safe business environment in 2024.”

    Digital Assets

    Japan Is Rapidly Emerging As A Global Leader In Compliant Crypto Payments

    Japan is often hailed as one of the most forward-thinking nations in the crypto industry, with its government taking a very positive stance on the potential of concepts such as Web3. 

    Digital Assets

    Kraken launches institutional arm

    “If you already work with Kraken, you know how much we care about offering high quality products and a client-first experience. We’ve been the leading crypto exchange for more than a decade and through Kraken Institutional, we’ll offer the same deep expertise and cutting-edge technology to propel trading excellence for institutions.”

    Fintech

    Centroid integrates with brokerage solutions provider GTN

    “We are thrilled to integrate GTN into Centroid Bridge, our multi-asset connectivity bridging engine. This integration allows our clients to gain access to the wide range of multi-asset products offered by GTN.”

    <