Compliance Officer for Swap Dealer
Deutsche Bank - New York, NY

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In an ever-changing financial landscape, the role of the Risk division has never been more important.
Deutsche Bank is exposed to a number of risks on a daily basis. These range from credit losses, market price volatility and operational failures to liquidity shortages and regulatory and legal matters. Risk is charged with identifying, aggregating, managing and mitigating these risks. We are made up of: Compliance, Corporate Security & Business Continuity, Credit Risk Management, Enterprise-wide Risk Management, Government & Regulatory Affairs, Legal, Market Risk Management, Risk Analytics and Instruments, Treasury, and our Chief Operating Office.
Risk is continually providing new solutions as we keep pace with increasingly complex financial products and ever-changing market dynamics. We place a strong emphasis on specialized training and education. This allows our people to develop the necessary skills to grow and succeed.

The person performing this advisory position will be responsible for supporting the implementation and management of the overall compliance program for the CFTC-regulated swap trading and clearing activities of Deutsche Bank globally, and for the foreign-regulated swap activities conducted by Deutsche Bank in the US. This person will generally support the designated Chief Compliance Officer as a subject matter expert. Deutsche Bank’s swap dealer entities will collectively conduct US facing swap dealing activities in products including Commodities, Rates, Credit, Equities, and FX. The person in this role will be responsible to develop and maintain a robust global CCO Compliance Program for DB's Swap Dealers to ensure compliance with all applicable regulatory requirements including those implemented under various international regulatory regimes including the Dodd-Frank Act, MiFID, and EMIR.

Responsibilities:
  • Assist with the development and implementation of a global Swap Dealer Manual and other Policies and Procedures to ensure that they are reasonably designed to achieve compliance with the requirements of Title VII of the Dodd-Frank Act (DFA)
  • Assist with the development and implementation of such Policies and Procedures as necessary to comply with international regulation applicable to DB’s swap activities in the US
  • Assist with annual gap analyses to identify and update all impacted bank policies globally based on new swap reform regulations
  • Provide ongoing support to the designated CCO of each CFTC registered entity, including:
− Recommend and implement changes to the compliance program and the Swap Dealer Manual and related policies/procedures as needed on an ongoing basis.

− Draft and coordinate the dissemination of regular Compliance Alerts/Reminders globally to ensure that the front office and infrastructure groups are aware of new rules/regulations and policies/procedures relating to each Swap Dealer.

− Work with business management and Compliance surveillance staff on the development of first and second-level controls/surveillance needed for each Swap Dealer.

− Work with Compliance inspection teams and/or Audit staff on the development and ongoing testing/monitoring of the effectiveness of the policies and procedures for each Swap Dealer.

− Work with Compliance Advisory staff covering product lines and other relevant areas on annual risk assessments needed for each registered entity.

− Work with Compliance Training staff on the development and coordination of initial and ongoing training for employees on requirements impacting the Swap Dealer(s).

− Prepare the Annual CCO Report for each Swap Dealer, and any other required periodic reports that the CCO for these entities will be required to make to the governing body or relevant regulatory authorities.

Level of skills, abilities and knowledge:
  • Understanding of the swap market for one or more product classes.
  • 5 – 7 years of compliance or regulatory experience, preferably with a federal regulator or self-regulatory organization, or in a trading environment, risk management function, or law firm.
  • Bachelor’s degree; JD a plus.
  • Working understanding of Title VII of the Dodd-Frank Act as pertains to the obligations of Swap Dealers and FCMs.
  • Understanding of OTC clearing.
  • Excellent oral and written communication skills.
  • Ability to project confidence and professionalism in all dealings with business personnel.
  • Ability to make, support and defend difficult and complex regulatory/compliance decisions in a fast-paced trading floor environment.
  • Familiarity with trading deal capture systems, a strong plus.
  • Securities and/or futures licenses, a plus.
  • Experience in an investment banking environment, a plus.

At Deutsche Bank, we are proud to be an Equal Opportunity/ Affirmative Action (M/F/D/V) employer.

Deutsche Bank - 17 months ago - save job - block
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Deutsche Bank AG is one of the top financial groups in the world and the largest bank in Germany, where it operates about 2,000 retail...