The Options Clearing Corporation (OCC), a derivatives clearing organization, announced the promotion of Vishal Thakkar to chief risk officer.

Thakkar was serving as the company’s acting chief risk officer. He is responsible for implementing the OCC’s risk management framework and serves on the management committee.

He brings nearly 20 years of industry risk management experience to the role, having previously led the company’s enterprise risk management function. He has also held leadership roles within the organization in the financial risk management and internal audit departments.

Thakkar is scheduled to speak as part of Compliance Week’s virtual Third-Party Risk Management & Oversight Summit on Dec. 7-8.