Dodd Frank Program Director recruitment
As part of regulatory endorsed changes to the OTC Derivatives business, Capital Markets IT is looking to hire a strong project / programme manager to lead the Central Counterparty Clearing (CCP) workstream. The Dodd-Frank Wall Street Reform Consumer Protection Act sets out that standardized derivatives contracts, such as certain swaps, must be centrally cleared, and cleared transactions must be traded on either an exchange or via a swap execution facility (SEF). In addition, it is expected that parties to a swap will be required to report transaction data to a swap data repository (“SDR”).
The move towards clearing certain OTC derivatives through a central counterparty (CCP) facility has long been underway. Several clearinghouses are up and running having seen the opportunity to provide services the regulators deem would limit counterparty risk and provide more transparency.
The successful candidate will require strong project governance skills as this role will need to engage with key resources distributed across different functions and geographies within the bank. A detailed understanding of the current OTC regulatory pressures that Dodd-Frank has introduced would be expected as well as first hand implementation experience with 3rd party vendor systems such as Murex and Calypso.
Please contact Simmy Lam at 416-306-3916 slam@michaelpage.ca for more info