Chief Compliance Officer - Swap Execution Facility
New York, NY
Posted Jun 16, 2021 - Requisition No. 91520
Bloomberg’s Legal & Compliance Department plays a critical role in supporting our businesses and operations around the world. We move quickly and thoughtfully to help address a variety of complex legal and regulatory issues that come with being the world’s leading financial news and information company. Our team is made up of talented and hardworking professionals who think creatively and work collaboratively in an open environment to deliver results, drive innovation, and solve difficult problems. Diversity and inclusion are essential to our success, and we strive to maintain an environment where our employees are empowered to make an impact. We also recognize the value and importance of giving back to our communities, as evidenced by our award-winning pro bono program!
The Global Compliance team within Bloomberg’s Legal & Compliance Department provides coverage of Bloomberg's regulated entities and products including support for Bloomberg's non-regulated products and services. We work to ensure compliance with current/developing rules and regulations, and correspond with regulators. Bloomberg has regulated activities that include regulated trading venues (e.g., UK Multilateral Trading Facility, US Swap Execution Facility), MIFID II benchmark activities, a US Broker-Dealer, and other regulated offerings globally.
Bloomberg is seeking a Swap Execution Facility (SEF) Chief Compliance Officer to join our Compliance team. Bloomberg’s SEF provides access to multiple execution styles globally across numerous asset classes including rates, credit, currency and commodity derivatives. This role will report to the Americas Head of Compliance, and also supervise Compliance coverage of our newsroom, as well as the research and valuations products and US index business.
In the CCO role, you will be responsible for overseeing and reviewing SEF compliance with the CEA and CFTC SEF related regulations, as well as applicable non-US regulations. As CCO, you will be responsible for the SEF’s trade surveillance, real-time market monitoring, enforcement and disciplinary proceedings. You will provide interpretive guidance to participants and the business as needed, including real time advisory services globally, as well as leading all aspects of the maintenance, review and periodic updating to the SEF Rulebook and compliance policies and procedures. The role also includes supervision, leadership, and management of compliance coverage of other Bloomberg products including research and valuations and US index businesses as well as the news group. Excellent communication and interpersonal skills are crucial, together with the ability to work as part of a team, with a real drive to add value to the company.
We'll trust you to:
- Present to the SEF Board of Directors and the Regulatory Oversight Committee, and Risk and Compliance committees.
- Prepare the annual SEF Compliance report for the CFTC and coordinate with Legal on rule, product and other required filings.
- Manage the relationships with the CFTC and other SEF global regulators (e.g., ASIC, HKMA, Canada’s OSC, and others), including examinations and general inquiries.
- Supervise the effectiveness and sufficiency of regulatory services provided to SEF by a regulatory service provider.
- Assess and interpret the relevance of applicable rules and regulations, provide regulatory analysis in coordination with Legal and communicate changes to affected managers and business units.
- As part of the broader Compliance team, provide leadership and manage senior business relationships in support to research and valuations and US indices businesses and the news group operated by Bloomberg.
You'll need to have:
- JD Degree
- 5-7 years of experience in a CCO or senior Compliance role working in a CFTC regulated swap business
- 3-5 years of managerial experience
- A strong understanding of market structure, including swap dealing, reporting and clearing
- Experience in the financial markets, specifically electronic trading
- Experience responding to regulatory inquiries
- Strong communication and interpersonal skills
- A track record of working with and advising senior business partners on compliance matters
- The ability to advise on regulatory changes and developments
- Experience in drafting policies, procedures, and manuals, along with preparing reports for regulatory bodies and internal management
- An analytical mind, and the ability to solve complex problems and streamline processes
We'd love to see:
- Fluency with financial trading technology
- A desire to be part of a team in a dynamic and fast-paced organization
If this sounds like you:
Apply if you think we're a good match. We'll get in touch to let you know what the next steps are.
Bloomberg is an equal opportunities employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.