Summary The Division of Market Oversight supports the CFTC's mission to promote the integrity, resilience, and vibrancy of the U.S. derivatives markets through sound regulation. The Division regulates derivative trade execution exchanges and swap data repositories. Responsibilities This position is located in the Division of Market Oversight (DMO) in the Compliance Branch. The Branch is responsible for providing oversight of self-regulatory responsibilities at all designated contact markets (DCMs) and swap execution facilities (SEFs) to promote market integrity, customer protection and compliance with the Commodity Exchange Act (CEA) and Commission regulations. The Branch also is responsible for system safeguards oversight of DCMs, SEFs, and Swap Data Repositories (SDRs). At the full performance level, duties may include: Conducts examinations, known as Rule Enforcement Reviews (RERs) to evaluate DCM and SEF self-regulatory programs and compliance with the CEA and Commission regulations through working with a team to determine the scope of RERs and generally participates in all aspects of planning and conducting RERs. Drafts RER initiation letters and document requests, develops, and drafts questions for interviews and participates in on-the-record interviews of senior exchange officials. Reviews RER documentation, completes checklists, and identifies industry best practices. The incumbent will work with team members to identify exchange non-compliance with the Act and Commission regulations and assist in developing findings and recommendations. The incumbent also will have substantial responsibility for drafting RER reports and presenting findings to the Commission. Work on inter-divisional teams in review of DCM and SEF registration applications; including participating in all aspects of planning and conducting reviews that involve comprehensive analysis and evaluation of applicant's self-regulatory programs. Adheres to the Act, Commission regulations, and policies consistent with general legal principles and reasonable in light of cash and derivatives market practices or other practical or operational considerations. Collaborates with the Market Review Branch to review and analyze rules submitted by exchanges relating to trading, governance, disciplinary, audit trail and recordkeeping to ensure that exchange rules, operations, and practices meet the statutory standards of the Act and the Commission's regulations and policies. Addresses legal and policy issues and problems related to derivatives trading and the CFTC's oversight program to identify, plan, and solve issues and problems; includes working on rulemakings. Provide technical guidance to the Deputy Director and Division Director regarding matters related to the oversight of regulated entities and advise on interpretations of law or on proposed changes in market-related regulations. Requirements Conditions of Employment U.S. Citizenship Favorable Background/Security Investigation Males born after 12-31-1959 must be registered for Selective Service. May be subject to a two-year trial period. Must be an active member of the bar in good standing. Applicants are responsible for citing minimum qualifications such as JD and/or LLM equivalent and Bar membership information (institution name, state for bar, and dates) on their respective resumes. Failure to supply details will result in an incomplete application. Qualifications BASIC 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 To qualify at each grade level, you must have the following: CT-13: You must have a J.D. Degree and/or LLM equivalent, bar membership and 3 years of relevant legal practice experience, acquired after being admitted to the bar, commensurate with the duties and responsibilities of a legal position. Relevant experience is defined as an attorney, law clerk, or other legal experience which was obtained subsequent to graduation from law school. Demonstrated skill in research and analysis of sophisticated legal issues, as well as excellent written and oral communication skills. Knowledge of commodities or related law and regulations, financial markets, corporate law, and general administrative law. CT-14: 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. Demonstrated skill in research and analysis of sophisticated legal issues, as well as excellent written and oral communication skills. Knowledge of commodities or related law and regulations, financial markets, corporate law, and general administrative law. Knowledge of derivatives markets, including futures, options, and swap markets. Selections may be made at either grade level. Education Successful completion of a full course of study (J.D.) in a school of law accredited by the American Bar Association (ABA). To be creditable, education must have been obtained in an accredited college or university. You must report only attendance and/or degrees from schools accredited by accrediting institutions that are recognized by the U.S. Department of Education. For a list of schools that meet this criterion, see www.ed.gov. SPECIAL INSTRUCTIONS FOR FOREIGN EDUCATION: If you are using education completed in foreign colleges or universities to meet the qualification requirements, you must show that the education credentials have been evaluated by a private organization that specializes in interpretation of foreign education programs and such education has been deemed equivalent to that gained in an accredited U.S. education program; or full credit has been given for the courses at a U.S. accredited college or university. For further information, visit: http://www.ed.gov/about/offices/list/ous/international/usnei/us/edlite-visitus-forrecog.html Additional Information Relocation: Relocation expenses will not be paid. Trial Period: As a condition of employment for accepting this position, you may be required to serve a 2-year trial period during which we will evaluate your fitness and whether your continued employment advances the public interest. In determining if your employment advances the public interest, we may consider: Your performance and conduct; The needs and interests of the agency; Whether your continued employment would advance organizational goals of the agency or the Government; and Whether your continued employment would advance the efficiency of the Federal service. Upon completion of your probationary/trial period your employment will be terminated unless you receive certification, in writing, that your continued employment advances the public interest. This is a Bargaining Unit position located in the National Treasury Employee Union (NTEU) Chapter 337. More than the number of positions listed may be filled through this vacancy announcement. The overall salary range is provided for informational purposes as it represents the full range that is applicable to current employees in this occupation/grade. A new hire's direct and overall experience are critical factors in determining a salary offer, therefore, it is important that your resume fully reflects all of your work experience. Note that the upper end of each range is typically applicable only to candidates with significant years of work experience and qualifications Please review the CFTC Compensation Program website for additional information. The law prohibits public officials from appointing, promoting, or recommending their relatives. The law prohibits requesting, making, transmitting, accepting, or considering political recommendations for employment or other personnel actions for non-political positions. This includes recommendations from Members of Congress, Congressional employees, elected state or local officials, and political party officials and any recommendation based on party affiliation.
