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.”

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