Managing Director, Global Chief Compliance Officer recruitment

Background to Role

CME Group is committed to ensuring the consistent implementation and/or operation of global compliance programs consistent with pertinent laws, rules, regulations, and governing regulatory bodies for CME Group and its subsidiaries. In order to achieve this, the CME Group is looking to hire a Global Chief Compliance Officer who can own and lead this development.

This role will help design, build and drive the implementation of global ethics and compliance programs for CME Group. This role will also focus on the refinement of existing ethics and compliance programs and development of new programs in response to evolving regulatory and business environments.

Position Purpose

The Global Chief Compliance Officer is responsible for setting the overall vision and direction for CME Group and its subsidiaries’ compliance activities. The position ensures CME Group achieves consistently high levels of compliance with all relevant laws and regulations while supporting the growth of the company and creating a culture of integrity. Responsibilities include maintaining and expanding visibility for the Corporate Compliance Ethics Programs at all levels within the Company; training regarding the Company’s Corporate Compliance Ethics policies; overseeing pertinent CME Group Compliance Ethics Teams; recommending and implementing compliance and ethics initiatives; overseeing the Company’s Compliance Ethics Helpline; measuring the effectiveness of the Company’s programs and procedures; and recommending appropriate remediation of issues as they arise.

Principal Accountabilities

Oversight:

Play a lead role in compliance teams and other cross-functional working groups that plan, execute and monitor activities associated with the compliance and ethics program. Influence, mentor, coach, and oversee the efforts of other compliance and ethics personnel across various business segments, functions and geographies.

Risk Assessment:

Coordinate with the company’s Enterprise Risk Management program to identify, assess and prioritize compliance and ethics risks. Coordinate efforts to track and act on evolving legal and regulatory requirements and provide updates, as appropriate, to the General Counsel, the Board and its relevant committees and other key stakeholders.

Prevention:

· {i}Standards of Conduct:{/i} Facilitate the development, maintenance, and periodic revision of the CME Group Code of Conduct and its underlying policies and procedures. Provide oversight and guidance about strategies for achieving consistency of policies across CME Group.

· {i}Due Diligence:{/i} Work with others to oversee the development, implementation and monitoring of protocols used to perform background checks and otherwise gauge the integrity of prospective employees, third parties and/or business acquisitions.

· {i}Communication and Training:{/i} Coordinate the development, implementation and monitoring of communication and training programs used to raise awareness and understanding among employees and third parties with respect to CME Group’s risks, policy requirements, and resources available to support compliance and ethics.

Detection:

· {i}Ethics and Compliance Helpline:{/i} Measure the effectiveness and oversee activities to improve the avenues and mechanisms whereby employees or third parties can seek guidance or report concerns related to compliance and ethics concerns.

· {i}Auditing and Monitoring:{/i} Consult with Internal Audit and others on the development of auditing and monitoring plans to test for compliance with CME Group standards, particularly in high-risk business activities, relationships, transactions and/or geographies.

Response:

· {i}Internal Investigations:{/i} Oversee the development, implementation and monitoring of protocols to investigate allegations or concerns related to potential compliance and ethics violations. Lead and monitor others in the conduct of internal investigations and provide updates, as appropriate, to the General Counsel, the Audit Committee and other key stakeholders.

· {i}Discipline and Incentives:{/i} Consult with Human Resources and others on the development, implementation and monitoring of protocols for taking disciplinary actions against those involved with compliance and ethics violations. Consult with HR and others to ensure performance management processes recognize and reward business actions and decisions that are consistent with an effective compliance and ethics program.

· {i}Remediation:{/i} Coordinate the development, implementation and monitoring of protocols to remedy compliance and ethics violations through, as appropriate, restitution and/or compliance and ethics program enhancements. Work with business partners to remediate issues as they arise.

· {i}Self-Disclosure:{/i} Work with others to coordinate the development, implementation and monitoring of protocols to self-disclose compliance violations as required and/or appropriate.

Measurement, Reporting and Continuous Improvement:

· {i}Status Reporting: {/i}Provide regular reports to the Board and its relevant Committees and senior management about the status of the ethics and compliance program, including information about risks, policy development, training plans, reported concerns, compliance audit results, investigations, disciplinary actions, and other information.

· {i}Measurement:{/i} Oversee the monitoring and assessment of the implementation of the Company’s ethics and compliance program. Develop strategies for measuring and assessing the effectiveness of the ethics and compliance program, which may include surveys, focus groups, benchmarking, data analysis, independent review, audits, and other appropriate and reliable methodology. Report results to the Board and its relevant Committees and senior management.

· {i}Improvement:{/i} Develop strategies for continuous improvement of the ethics and compliance program, including seeking best practices through internal assessments, external benchmarking, and networking with peer groups and trade associations; establishing or participating in councils of ethics and compliance professionals to assist in the improvement of processes; and applying lessons learned from investigations to improve processes and communicate findings to employees.

Qualifications