About this role
Job SummaryThe mission of the Division of Clearing and Risk (DCR) is to promote the integrity of clearing and minimize systemic risk in the derivatives markets by overseeing derivatives clearing organizations (DCOs) and clearing participants. DCR carries out its mission by examining DCOs to identify areas of financial, risk management, and operational concern and for regulatory compliance. The incumbent serves as an Attorney Advisor (General) in the Clearing Policy Branch in DCR.
QualificationsBASIC REQUIREMENT: All applicants must possess the following: J.D.; and Active membership of the bar in good standing in any state, territory of the United States, the District of Columbia, or the commonwealth of Puerto Rico. (Note: proof of bar membership will be required before entry on duty) AND CT-12 Level: Candidates with a L.L.M or advanced degree in economics, business, etc., OR 2 year of relevant legal experience after completion of law school. CT-13 Level: Candidates with a law degree (J.D. or equivalent) and bar membership and 3 years of relevant legal experience after completion of law school. CT-14 Level: Candidates with a law degree (J.D. or equivalent) and bar membership and 4 years of relevant legal experience after completion of law school. Relevant legal experience is defined as attorneys, law clerk, or other legal experience which was obtained after graduation from a law school. Legal and non- legal experience gained in the Federal government or private sector prior to completing a law degree cannot be used to satisfy the legal experience requirement. Work while in law school does not count. Desired Qualifications: Expert skill in research and analysis of complex legal issues. Expert knowledge of derivatives or related law, financial markets, corporate law, and general administrative law.
Major DutiesThis position is in DCR, which oversees DCOs, the clearing of swaps, futures, and options on futures, and market participants that may pose risk to the clearing process. The program is designed to assure that DCOs, DCO clearing participants, other market participants that may pose risk to the clearing process, and the clearing of swaps, futures, and options on futures are in compliance with the Commodity Exchange Act and Commission regulations. The Division consists of the Clearing Policy Branch, Risk Surveillance Branch, International and Domestic Clearing Initiatives Branch, and Examinations Branch, (collectively, Branches) along with their respective subordinate units. As an Attorney Advisor (General) in DCR at the full performance level, you will provide legal services and technical advice as a staff member of the Clearing Policy Branch. In this role you will: Furnish advice of a legal nature on assigned projects with respect to the relevant provisions of the CEA and Commission regulations, as well as other relevant statutes, regulations, judicial decisions, and legal opinions; Develop regulations, orders, guidance, and other regulatory approaches applicable to DCOs and other market participants, including rules related to clearing, margining, settlement, and bankruptcy; Respond to formal no-action, exemption, and interpretation requests, as well as formal requests for exemptive orders, and to informal requests for information on areas for which DCR is responsible; Provide support for the DCR examinations branch by evaluating DCO compliance with the CEA and Commission regulations, conduct research regarding novel and complex legal issues, and help prepare examination reports; Provide support for the DCR risk surveillance branch by evaluating DCO rule changes and new product submissions, conduct research regarding novel and complex legal issues, and help prepare written materials; Review DCO rule submissions for compliance with the CEA and applicable Commission regulations; Review and make recommendations regarding applications for DCO registration; The successful candidate will assist with activities associated with the responsibilities of the Division.