The Options Clearing Corporation, a derivatives clearing company, has named Jean Cawley to the newly created role of chief compliance officer.

She will continue her role as senior vice president and deputy general counsel, in which she is responsible for the day-to-day operation of the legal department, other in-house attorneys, paralegal assistants, and departmental assistants and clerks. Cawley also plays a key role representing OCC in dealings with exchanges, clearing members, business partners, and regulators, and works with the general counsel in managing OCC's outside counsel.

As deputy general counsel,, Cawley will continue to report to William Navin, executive vice president, general counsel and chief legal officer. In her role as CCO, she will report to Chairman and CEO, Wayne Luthringshausen, and will develop and oversee OCC's compliance program. Cawley joined OCC as staff counsel in November 1989, and has served in positions of increasing responsibility since then.