Trading Compliance - Legal Group

Federal Reserve Bank New York City , NY 10008

Posted 2 months ago

Trading Compliance and Due Diligence Unit Overview

The Trading Compliance and Due Diligence Unit ("TC&DD" or the "Unit") provides advisory, challenge, and control services to NY Fed business areas engaged in trading activities. Trading activities include Fixed Income and Foreign Exchange trading for both monetary policy purposes and on behalf of customers. The Unit also conducts public record due diligence reviews and analysis of third party organizations and individuals seeking a relationship with the NY Fed.

Position Description

This individual will provide advisory compliance support for the trading desks within the Markets Group, helping to ensure a robust control environment around the trading operations. Candidate will be expected to provide advice on relevant requirements including applicable internal policies and procedures, and will assist with the implementation of internal controls. Candidate also will be expected to contribute to a team conducting public record due diligence reviews of external parties engaging with the NY Fed in various capacities. In addition, Candidate will assist in other Compliance and Ethics Office work as needed.

Candidate must demonstrate the ability to effectively review and analyze complex situations and apply judgment to resolve issues in a timely manner with minimal supervision. Candidate should be proficient in time management and able to initiate and manage projects.

Job Responsibilities

  • Provide compliance support for the NY Fed trading desks, and middle and back office support functions

  • Communicate with senior business management, risk management and trade desk personnel regularly and address issues on a real-time basis

  • Develop and provide appropriate training to ensure the business unit understands and complies with relevant requirements

  • Assist in the development and maintenance of written supervisory procedures

  • Develop and maintain policies and procedures for 1st and 2nd Lines of Defense (LoD) trading compliance activities

  • Develop and maintain 1st and 2nd LoD trading compliance surveillance reports

  • Interact with operations and technology support to ensure trading technology and trading practices remain compliant with internal policies and consistent with industry best practice

  • Actively monitor regulatory developments and trends (e.g., Dodd-Frank regulatory reform)

  • Conduct public record due diligence reviews of external parties engaging with the NY Fed

  • Assist in other Compliance and Ethics Office work, as needed

Skills/Work Experience Required:

  • 7 years of working experience, trading compliance experience required

  • Fixed income and/or foreign exchange experience preferred but not required

  • Experience with developing and reviewing trade surveillance reports

  • Knowledge of broker-dealer regulatory compliance including FINRA, CFTC and SEC regulations

  • Strong interpersonal skills and the ability to establish and maintain effective working relationships with both junior and senior business personnel

  • Ability to conduct independent research, produce reports and make appropriate recommendations

  • Ability to recognize and handle highly confidential information with discretion

  • Sound judgment and ability to develop appropriate conclusions and recommendations in a timely manner

  • Strong written and oral communication skills

  • Ability to present data in a concise manner and in a variety of forms tailored to different audiences

  • Ability to assimilate new information and understand complex topics

  • Strong organizational skills with the ability to prioritize and multi-task a variety of responsibilities

  • Strong self-management skills, as evidenced by ability to take initiative and ownership of assignments, and produce results under tight time constraints, both independently and as a member of a team

  • Strong attention to detail, including preparing data analysis and providing qualitative reports

  • General knowledge of compliance issues, practices, and trends

  • Strong presentation skills, analytical skills and problem solving skills

  • Proficiency with Microsoft Office Suite

Educational Requirements:

  • Bachelor's Degree

  • M.A. or J.D. (optional)

This position requires access to certain sensitive information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, U.S. permanent residents who are not yet eligible to apply for naturalization, and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so.

The Federal Reserve Bank of New York is committed to a diverse workforce and to providing equal employment opportunity to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.


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Trading Compliance - Legal Group

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