John Fennell

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John Fennell is a a Chicago-based derivatives and risk executive who serves as the chief risk officer and head of clearing operations for EDX Markets.
Previously he served as the executive vice president and chief risk officer at tFOSE Group Holdings Inc., a derivatives exchange based in Toronto.
Also, he has served as an EVP and chief risk officer at the Options Clearing Corporation (OCC). He was promoted to that position in September 2016, and also was responsible for OCC's risk strategy. He also oversaw OCC's model variation and risk management departments, plus security services, business continuity and disaster recovery. 
He replaced John Grace, who left the OCC in 2016.
== Background ==
Previously, Fennell served as executive vice president, financial risk management at OCC where he was responsible for financial risk management, including market, credit and liquidity risk, default management, customer margin methodologies and model development. He joined OCC in 1993, spending the majority of his career in the firm's risk management department, where he served as senior vice president, risk management & treasury operations, overseeing financial risk management and custodial operations related to all margin and clearing fund securities deposits with OCC. Fennell also served on the Executive Committee of CCP12, as an Affiliate Member with IOSCO and was active on the SIFMA Credit and Margin Committee, as well as other industry margin and risk management committees. He was previously first vice president, risk management, responsible for OCC's risk management process, including Quantitative Risk Management.
== Education ==
Fennell graduated with an M.B.A. in Finance from DePaul University and a B.S. from Northern Illinois University. Fennell completed the Certified Regulatory and Compliance Professional program at the FINRA Institute at the Wharton School of the University of Pennsylvania.
==MarketsWiki Education Video, July 2015==
"In the past, settlement - the movement of securities and cash - is what you would associate with clearing. That changed as a result of the financial crisis. When you have banks like Bear Stearns and Lehman Brothers defaulting, confidence becomes the bigger issue."
Historically, clearing has not exactly been part of the "glamorous" side of trading. In fact, it has been looked at as a utility, like electricity and plumbing. But that all changed during the financial crisis. Clearing is not just about moving contracts through the pipes; it is also about the guaranteeing performance of those contracts.
OCC's John Fennell says that, these days, clearing is where it's at - an area of the market where one can innovate while managing those tail risks (or, "Lehman Moments"). It is also an area of the market that is enjoying solid growth. For newcomers looking for career opportunities, it doesn't get any more glamorous than that.
==JLN Video Interview, April 2015==
The OCC was designated a systemically important financial market utility in 2012. That led to some big changes at the organization, along with challenges in risk management and credit and liquidity resources. John Lothian News spoke with John Fennell, executive vice president, financial risk management at the OCC, about what the organization is doing to insure that it meets these and other regulatory obligations.
== References ==	
Category:OCC
Category:MarketsWiki Education World of Opportunity Speaker