The Manager/Associate Director, Capital helps develop and execute a regulatory compliance program for the capital requirements for swap dealers (SD) covered by the CFTC's capital requirements. As part of NFA's process of designing an oversight program to review covered SDs' compliance with those requirements, the Manager/Associate Director, Capital assists with incorporating SD capital requirements—including liquidity and financial reporting requirements—into NFA's existing regulatory compliance program by the compliance date set by the CFTC. The oversight program includes capital compliance testing of SDs as well as the review of required periodic and notice filings—other than approval of capital models.
The Manager/Associate Director, Capital also assists with the creation of NFA's SD capital compliance examination program and helps establish the strategic direction of the program. This individual will also act as a subject matter expert.
- Assist in developing the capital compliance component of NFA's SD examination program, which will be designed to ensure SDs meet the CFTC's and NFA's capital requirements.
- Determine specific areas of capital testing, design appropriate module examination steps and develop associated guidance for staff examiners to utilize in examinations.
- Provide subject matter expertise to NFA's OTC Derivatives department.
- Remain abreast of CFTC capital rule developments and affect necessary changes to the program.
- Aid in determining the approach for review, follow up, and closure of various financial statement analysis and notice filings, and its integration into NFA's examination process.
- Collaborate with NFA's Information Systems department to assist in developing the architecture for systems needed to accept and edit check SD financial statement and notice filings, and build workflows for these processes.
- Work with the OTC Derivatives department's senior leadership and NFA's Office of Professional Development to create an initial and ongoing training program for examiners.
- Five to eight years of experience in a regulatory capital, financial reporting or compliance function, particularly involving OTC derivatives
- Knowledge of risk management framework (e.g. regulatory capital, VaR and stress-testing standards, counterparty exposure estimation, liquidity estimation, documentation and reporting approaches)
- Specific experience in one or more of the following areas: capital management and reporting, comprehensive capital analysis and review reporting, liquidity management, market risk, counterparty credit risk, Basel III
- Knowledge of the capital implications of swaps products
- Understanding of bank regulations on capital (e.g. RWA calculations for market risk and counterparty credit risk, comprehensive capital analysis and review stress testing, type of capital) and liquidity requirements (e.g., liquidity coverage ratio and liquidity stress testing)
- Experience with prudential regulators' financial filings such as FR Y-9C, FR Y-14, FFIEC 031, FFIEC 041, and the SEC's FOCUS Part II or IIA a plus
- Bachelor's degree required, MBA, CFA and/or CPA preferred and Financial Risk Manager (FRM) degree a plus
- Excellent written and verbal communication skills