Futures Commission Merchant
The person performing this role will provide day-to-day compliance coverage of the Markets Clearing business . Primary responsibilities will include advising the business on matters concerning the clearing of OTC derivatives. This person would report to the FCM Chief Compliance Officer.
Responsibilities will include:
• Advise the business to ensure compliance with regulatory requirements applicable to current and proposed new activities.
• Assist in the preparation of the FCM CCO’s Annual Report, and other reports, to the Board of Directors as required under CFTC Regulation 3.3.
• Maintain the FCM Compliance Manual to ensure that it is reasonably designed to promote compliance with the Commodity Exchange Act, the CFTC Regulations, and all relevant NFA and exchange rules.
• In partnership with the Regulatory Response Unit and the Legal Department, represent the firm before regulators in circumstances including exams and inquiries, and disciplinary matters.
• Advise the Markets Clearing business on implementation of requirements of Title VII of the Dodd-Frank Act with respect to clearing of OTC derivatives.
• Perform annual compliance risk assessment of OTC Clearing business and infrastructure policies, procedures and controls to identify gaps and recommend remedial actions.
• Draft and coordinate the dissemination of Compliance Alerts/Reminders to ensure that the front office and infrastructure groups are aware of new rules/regulations and policies/procedures relating to affected business areas.
• Prepare and deliver training to front office personnel engaged in sales and trading and other activities, annually and as otherwise appropriate.
• Work with surveillance staff on the development of tools and models for monitoring of trading activity as needed.
• Work with Compliance inspection teams and/or Audit staff on the development and ongoing testing/monitoring of the effectiveness of policies and procedures.
Level of skills, abilities and knowledge:
• 5+ years of compliance or regulatory experience, at least 2 of which should be with a CFTC-registered Futures Commission Merchant, and preferably with additional prior experience with a federal regulator, self-regulatory organization, or law firm.
• Bachelor’s degree; JD a plus.
• Working understanding of Title VII of the Dodd-Frank Act, particularly as it pertains to the obligations of FCMs.
• Excellent oral and written communication skills.
• Ability to project confidence and professionalism in all dealings with business personnel.
• Ability to make, support and defend difficult and complex regulatory/compliance decisions in a fast-paced trading floor environment
• Knowledge of Federal and NY State laws, rules and regulations pertaining to banks or bank holding companies participating in capital markets, a plus.
• Familiarity with trading deal capture systems, a strong plus.
• Futures and/or securities licenses, a plus.
• Experience in an investment banking environment, a plus.
To apply please submit your resume to Jack Kelly – JKelly@compliancesearch.com
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