After 36 years, the last seven with OCC, it is time for me to turn the page and not just start a new chapter, but begin writing a whole new book. So I wanted to share that I have notified the Board and Management Committee of my plans to retire from OCC next year. My wife, Lisa, has always supported me in anything and everything I wanted to do. However, she had two rules. First, I was not allowed to write on the family calendar. And second, whatever I chose to do in life, I was not suppose to be at home on weekdays between 8 and 5 – and absolutely could not have lunch with her more than twice a week. But the silver lining in working from home these past two years is that, while I am still prohibited from writing on the calendar, we have come to realize we no longer need the second rule. The last few years at OCC have seen an incredible transformation from identifying the need to replace our clearing and risk management system, establishing a sustainable capital plan, replacing our clearing fund methodology, enhancing margin models, redesigning our organizational structure and career framework and remediating examination findings and their root causes. All of these efforts have materially strengthening OCC’s risk management and control environment. Seeing that progress has been deeply rewarding, and I am proud to have worked alongside each and every one of you. While I will remain as COO for the next year and work on both continuing to enhance our service to market participants and the transition, I look forward to seeing where OCC goes from here.
John Lothian
1y
Congratulations Scot. You had a great run. I hope you are as successful in retirement or whatever the next book is as this one.
Congratulations on a great run at OCC. I look forward to reading the new book.
Scot - congratulations. You've been a friend and mentor to me in unexpected but welcome ways, and I'm selfishly glad we have you for another year before you take your rest.
Scot, Congratulations on all your accomplishments! The last two year ordeals impacted almost everyone on this planet in one way or another for better or worse. This looks to be the end of beginning for something special for you and I am very excited for you. I look forward to catching up in person someday and hear about your next chapter! Best of luck in your remaining term at the OCC.
John Keller
1y
Scot— congratulations on all you’ve accomplished in a distinguished career and all you will accomplish in retirement!
While we will certainly miss your zingers, your commitment to making OCC a resilient and well risk managed organization will be hard to replace. Hopefully we can make this last year another good one for you at OCC!
Aaron Brooks
1y
I wish you nothing but success Scot! The bit of time we had to get to know one another a few years ago was truly enjoyable for me both professionally as well as personally. I hope all of your future endeavors are exactly as you would like!!
Tina Lemieux
1y
Congratulations on your next move in life. I had the pleasure of working with you at CME Group. The best with your book.
Principal, Pirnie Advisory, LLC
1yScot has made many significant contributions to OCC under challenging conditions. We will miss both his sage advice and good sense of humor. Very pleased we will have his services for another year.