Provide legal advice on both routine and complex matters to internal clients to manage legal risks faced by the Corporation relating to clearance and settlement operations. Advise internal clients on specific regulations applicable to OCC. Work with personnel from the business units to articulate nature of changes to the Corporation’s By-Laws and Rules to the regulators. Serve as corporate liaison to the regulators.
Primary Duties and Responsibilities:
To perform this job successfully, an individual must be able to perform each primary duty satisfactorily.
- Prepare rule filings and notices to the regulators, including but not necessarily limited to: rule filings with both the SEC and the CFTC, advance notices with the SEC and the Board of Governors of the Federal Reserve, and event-driven notices with the SEC.
- Assist with the continued development of key risk management “frameworks” to be filed as OCC rules.
- Advise internal clients on regulatory notification requirements for systems disruptions, intrusions, or compliance matters. Provide general advice to internal clients on matters related to compliance with technology related regulatory requirements and standards, including but not limited to the SEC’s Regulation SCI and the CFTC’s Systems Safeguards.
- Advise internal clients on regulatory issues related to OCC’s consideration of clearing and settling new products.
- Be familiar with applicable regulation and advise internal clients on routine and complex matters related to current and prospective regulations, including but not limited federal securities and commodities laws promulgated by the SEC, CFTC, the Board of Governors of the Federal Reserve System, and the Financial Stability Oversight Council.
- Be familiar with and advise internal clients on specific international principles and standards applicable to OCC and/or its clearing members, including but not limited to those issued by CPMI-IOSCO and the Financial Stability Board.
- Interpret and advise internal clients on OCC’s By-Laws and Rules, and any policies and procedures promulgated thereunder.
- Assist in some aspects of regulatory examinations and regulatory audit, including by preparing of business partners, and attending examination or audit sessions.
- Assist with management of relationship with regulators, from the SEC, the CFTC, and the Board of Governors of the Federal Reserve System.
- Assist in ensuring business initiatives are compliant with regulatory requirements.
- Interface with outside counsel, as needed, with respect to matters described above.
- Perform other duties as required.
Supervisory Responsibilities: N/A
The requirements listed are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the primary functions. • Experience in securities and commodity laws and regulations.
- Experience working with regulatory agencies and familiarity with regulations under the Securities Exchange Act of 1934, the Commodity Futures Modernization Act of 2000, the Dodd-Frank Act, and other applicable financial regulations preferred.
- General working knowledge of the clearance and settlement and risk management functions of a clearing organization preferred.
- Understanding of and familiarity with best practices with respect to corporate governance of systemically important financial market utilities preferred.
- Excellent analytical and problem-solving skills.
- Excellent management and organizations skills.
- Excellent interpersonal and communication skills.
- Detail-oriented, flexible, and creative.
- Well-organized and capable of handling several substantial assignments at the same time.
- Self-starter with ability to work independently as well as on a team and to quickly shift priorities in response to changing business environment or priorities.
- Ability to work collaboratively, including through effective communication with internal clients from different departments, including risk departments, and various levels of seniority.
- Ability to promptly produce high-quality, accurate, and detailed work product.
Technical Skills: Experience with; Microsoft Office (Excel, Word), Sharepoint, Nasdaq Directors’ Desk and Archer
Education and/or Experience:
- Juris doctorate or equivalent degree from a U.S. accredited law school.
- 7-10 years of related experience either at a law firm, in-house, or at a regulatory agency.
- Degree from an accredited college or university.
Certificates or Licenses: Member in good standing with license to practice law in jurisdiction acceptable to the General Counsel.
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OCC is an Equal Opportunity Employer