Chief Compliance Officer/GC
Major Prop Trading Firm is looking for a Chief Compliance Officer/General Counsel. The CCO/GC will be responsible for overseeing and managing all regulatory, legal, and compliance matters for the firm and will ensure the firm's compliance with all FINRA, CFTC, SEC and other rules and regulations by providing necessary advice, training and risk assessment pertaining to all of the firm’s proprietary trading activities. This person is responsible for implementing all required policies and procedures regarding regulatory, legal, and compliance business activities. The person holding this position will work closely with CEO, Senior Management and interact with all staff at the firm. The Compliance and Legal teams will report to the CCO/GC.
Job Responsibilities:
- Identify and manage legal, compliance, and regulatory risk.
- Lead and manage day to day responsibilities for legal and compliance team.
- Provide leadership, training and supervision within the department.
- Provide a hands-on approach to integrate and balance compliance responsibilities into the daily trading practices and general operations of the firm.
- Analyze, develop, and implement policies and procedures to ensure compliance with various domestic (e.g., SEC and CFTC) and foreign (e.g., FCA, PRA, and Eurex) rules and regulations.
- Liaise with business leaders and technology teams to assist with systems enhancement and development as they relate to regulatory and firm obligations.
- Be responsible for implementing adequate controls and quality assurance processes to provide early identification and prevention of potential compliance problems.
- Oversee the creation and monitoring of robust surveillance systems designed to detect common areas of regulatory focus as well as more complex, but undesired trading practices.
- Offer advice on general and complex trading rules and regulations, and respond to or oversee all regulatory inquiries and examinations.
- Oversee the development of training programs to enhance awareness of compliance throughout the firm.
- Remain current with industry trends and changes to compliance regulations.
- Effectively communicate conclusions and recommendations.
- Ensure an efficient internal reporting policy is employed within the firm.
- Report all relevant compliance matters to the firm’s Audit Committee on a quarterly basis.
- Represent the firm as a member of the local and broader compliance industry.
- Advise and represent Senior Management regarding legal matters.
- Oversee drafting and approval of all vendor contracts, ISDA agreements, give-up agreements, clearing agreements, brokerage agreements, non-disclosure agreements and other binding legal documents.
- Provide guidance /advice to the firm’s Management Team on the impact of current and future regulatory issues, human resources issues, and intellectual property issues, and all legal matters.
- Draft responses to CFTC letters and requests.
- Interpret and draft written summaries of current and prospective CFTC regulations.
- Manage all legal activities within the organization.
- Attend Board of Directors meetings and oversee Board of Directors' corporate governance issues.
The ideal candidate will have experience in the following areas:
- A background in electronic trading including knowledge of futures, fixed income and equities markets. Experience working in proprietary or market making trading environment highly desired. Extensive knowledge of securities and futures rules and regulations.
- Working knowledge of registration and membership requirements. Developing and maintaining all relevant policies and procedures based upon regulatory requirements, industry practices and established internal controls.
- Developing and implementing necessary risk assessment reviews including internal audits and automated surveillance/monitoring programs to review the firm's activities in order to remain in compliance with all aspects of industry standards.
- Overseeing the implementation of legal, compliance, and regulatory policies and procedures, including employee training.
- Demonstrating excellent communication skills, both oral and written. Must have the ability and experience to draft clear and professional correspondence, policies and procedures and other documents of both legal and business nature. Must be able to correspond with all regulators and auditors.
- Working as liaison to firm’s management to ensure appropriate support if needed for any and all litigation, arbitration, reparation proceedings and all other regulatory, criminal and civil matters.
- Demonstrating ability to effectively analyze situations, absorb large amounts of information and apply past experience and judgment to resolve issues in a timely manner.
- Reviewing documentation and provide Compliance approval.
- Overseeing electronic trade reporting for futures, fixed-income and equity securities.
Requirements:
- The successful candidate should hold a law degree and be a member of the bar.
- Ability to communicate effectively with a variety of contacts, including outside attorneys, senior management, and business associates.
- Must be a team player
- Series 7 (or 56) and 24 qualifications to be completed promptly upon hire. .
- Series 4 a plus
- Minimum of 10 years’ experience in securities and futures compliance and/or legal experience in securities and future compliance.
- Strong attention to detail and extreme organization is pivotal for this position.
- Fluent with all current SEC, CFTC and FINRA issues and concerns.
- Proven ability to communicate and work with technical professionals.
- Proven track record of ability to work with regulators.
Competencies:
- Ability to work well under pressure, ability in handling multiple priorities while keeping an enthusiastic attitude.
- Excellent oral and written communication and interpersonal skills.
- Ability to work independently with limited supervision and guidance.
- Strong detail and organizational skills, including a basic understanding of project management
- Ability to work with others to mutually agree upon sound compliance practices, procedures and supervision.
- Good common sense and practical approach to problem solving.
- Ability to think creatively and abstractly to find new ways to accomplish goals.
- General technical understanding of trading infrastructure, data systems, and back office processes.
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