Swap Dealer Compliance, Assistant Vice President

Who we are looking for

Swap Dealer Compliance seeks a Compliance Officer to advise internal stakeholders on implementation and development of Commodity Futures Trading Commission (“CFTC”) and National Futures Association (“NFA”) swap dealer requirements, including developing relevant compliance program elements including policies and procedures, training, risk assessments, issues management, governance and management reporting, and assisting in the remediation of noncompliance matters. This position will require engagement with the business, including Global Markets FX Sales & Trading, Global Treasury as well as with Compliance, Legal, Operations, Enterprise Risk Management, Finance and Audit stakeholders. Knowledge of CFTC & NFA swap regulations is preferred to enhance the compliance program and assist the swap dealer to satisfy its regulatory obligations.

Why this role is important to us

The Compliance Department prevents, detects and mitigates compliance, regulatory and reputational risk across State Street and helps to strengthen our culture of compliance through the compliance oversight program. As a second line independent control function, Compliance assesses compliance, regulatory and reputational risk; monitors for compliance with new or amended laws, rules and regulations; designs and implements controls, policies, procedures and training; conducts independent testing; investigates, surveils and monitors for compliance risks and breaches; and leads the banks’ responses to regulatory examinations, audits and inquiries. Compliance team members come from a wide range of academic and professional backgrounds, such as law, accounting, sales, and trading. We look for those who possess excellent analytical abilities, sound judgment, curiosity, problem solvers who are able to adapt to changing regulatory needs.

What you will be Responsible for

• Advising and implementing enhancements to the overall Swap Dealer Compliance Program, including policies and procedures
• Assisting in responding to regulatory inquiries, audits, examinations and investigations, and liaising with regulators (CFTC & NFA)
• Reviewing and educating internal stakeholders on regulatory updates and engage in advocacy and industry discussions on swap dealer matters
• Advising the business on regulatory requirements, developments and expectations across the swap dealer regimes including swap data reporting, business conduct, recordkeeping, margin and other areas
• Assisting with the development of training for Swap Dealer Associated Persons to educate and remind employees of their obligations and expected behaviors
• Assisting in drafting CCO annual compliance report and presenting report to senior management
• Periodically assessing the effectiveness of the relevant CFTC and NFA rules together with obligations, risks and controls, including core compliance risk assessments
• Assisting in developing monitoring and testing to review and challenge controls and implement obligations with Compliance and business teams, and work with Audit on ongoing reviews

What we value

• 2+ years’ experience in and knowledge of CFTC & NFA swap dealer regulations
• Experience writing and implementing policies and procedures, management information and reports
• Knowledge of financial services products, markets, laws, rules and regulations relevant to OTC derivatives, FX, swaps, futures and options
• Experience with the monitoring, and testing of compliance programs
• Strong interpersonal skills and the ability to manage processes and drive change and accountability with key internal stakeholders
• Effective communicator with senior stakeholders both verbally and written, including experience delivering trainings
• Work effectively with personnel in different office locations and in different time zones
• Exceptional attention to detail and strong analytical skills
• Proficiency in Excel, PowerPoint, and Microsoft Office

Education & Preferred Qualifications

• Bachelor’s degree in a relevant field

Salary Range:

$80,000 - $132,500 Annual

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.