AVP / VP Dodd Frank Testing
Position will be at the AVP or VP level, depending on experience. Responsibilities include:
- Review of the swap dealer and FCM policies and procedures and test them for effectiveness, including analysis of resources set aside for compliance and discussion of any necessary improvements.
- Determine material non-compliance risks related to Firm's relevant activities as an SD or FCM and assist with their remediation as required.
- Manage the review and testing of Firm's risk management programs to evaluate adherence to risk management policies and procedures, assess the effectiveness of internal controls, and generate recommendations for modification, as warranted.
- Document the procedures used to initiate such inquiries and to compile their results, and communicate such information to senior management on a regular basis.
- Monitor and regularly test swap positions held by Firm's Bank's global entities to ensure that swap dealer registration policies and procedures are followed. This will include testing adherence to restrictions on dealing in swap and security-based swap products.
- Assist in the conducting of compliance inspections of branch offices, trading desks, and other reviews in Markets and Corporate Finance business divisions, with a view towards assessing compliance with applicable laws, rules, policies and procedures. Escalate and follow up when issues are found.
- Maintain an expertise of relevant regulations and their interpretations as required to perform the above functions.
- Remain current on industry rules, regulations and best practices to help ensure that the examination program meets regulatory standards.
- Coordinate with other professionals in the organization, including Compliance Advisory teams, Operations, Finance, and Surveillance Analysts. Work with Compliance Advisory in preparation of annual CCO reports to be filed for the SD and FCM pursuant to Dodd-Frank.
- Communicate examination results, present identified issues to the business, work with the business to develop and implement a plan of corrective action, and prepare written inspection reports.
- Track of the status of the corrective action plans agreed upon with the business.
- Maintain detailed documentation of work product.
- Remain current on industry rules, regulations and best practices.
Position Requirements
- Bachelor’s Degree (Finance or Economics preferred). MBA or JD a plus.
- Experience in Sales and Trading (Markets businesses) is highly preferred.
- Minimum of eight years of compliance and/or regulatory experience, with knowledge of the financial service industry, regulatory requirements, and experience in analyzing business risk and best practices.
- Prior regulatory experience with the NFA, CFTC, or CME preferred.
- Strong knowledge of derivative products, including all types of swaps, required.
- Strong investigative skills – inquiry and analysis, interviewing, testing (including forensic testing), organization and presentation (both written and verbal)
- Excellent communication, interpersonal, and PC skills.
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