OCC appoints Cutuli as chief financial risk officer
25 January 2024 US
Image: SeanPavonePhoto
The Operations Clearing Corporation (OCC) has appointed Massimo Cutuli as chief financial risk officer (CFRO) elect.
He will succeed current CFRO Dale Michaels, who is set to retire in March.
Cutuli brings more than 25 years of experience in financial services and management consulting, most recently as chief risk officer at Optiver US.
In his new role, Cutuli will be responsible for OCC's market, credit and liquidity risk, default management, customer margin methodologies and model development activities.
Commenting on Michael’s departure, Craig Donohue, OCC chairman, says: “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 many contributions to OCC and wish him all the best in his retirement.”
The announcement follows a reshuffling of the OCC board of directors in which Donohue was selected as chairman.
He will succeed current CFRO Dale Michaels, who is set to retire in March.
Cutuli brings more than 25 years of experience in financial services and management consulting, most recently as chief risk officer at Optiver US.
In his new role, Cutuli will be responsible for OCC's market, credit and liquidity risk, default management, customer margin methodologies and model development activities.
Commenting on Michael’s departure, Craig Donohue, OCC chairman, says: “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 many contributions to OCC and wish him all the best in his retirement.”
The announcement follows a reshuffling of the OCC board of directors in which Donohue was selected as chairman.
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