VP OTC Clearing Compliance
- 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 DBSI 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
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