The mission of the U.S. Commodity Futures Trading Commission (CFTC) is to protect market participants and the public from fraud, manipulation, abusive practices, and systemic risk related to derivatives – futures, swaps, and options on futures – and to foster transparent, open, competitive, and financially sound markets.
This position is in the CFTC’s Division of Clearing and Risk (DCR), which oversees derivatives clearing organizations (DCOs) and the clearing of CFTC-regulated derivatives for compliance with the Commodity Exchange Act (CEA) and CFTC regulations.
As an Attorney Advisor (General) in DCR, you will provide legal services and technical advice as a staff member of the International and Domestic Clearing Initiatives Branch.
As an attorney in International and Domestic Clearing Initiatives Branch at the full performance level you will:
1. Help develop recommendations regarding whether certain swaps should be subject to a clearing requirement issued by the Commission;
2. Review compliance with existing clearing requirements;
3. Assist with the administration of exceptions and exemptions to the clearing requirement;
4. 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;
5. Develop regulations, orders, guidance, and other regulatory approaches applicable to DCOs and other market participants, including rules related to clearing, margining, settlement, and bankruptcy;
6. 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;
7. 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;
8. 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;
9. Review DCO rule submissions for compliance with the CEA and applicable Commission regulations;
10. Review and make recommendations regarding applications for DCO registration; and
11. Review and provide independent, objective comments, critiques, and recommendations on legislation, changes in regulations, enforcement actions, questions of law, administrative policy, staff reports, and other Commission regulatory matters.
12. Extensive contact with the industry, the derivatives bar, other federal agencies, and the public may be involved.