Director, Division of Clearing and Risk

Washington D.C.
Aug 07, 2017
Aug 21, 2017
Executive, Director
Full Time

With an expanded mission and authority including oversight of the swap markets, the CFTC continues to protect the American public by promoting market integrity, transparency and preventing and prosecuting fraud, manipulation and other abuse in the futures and options markets. Please visit to learn more about the CFTC.

The Division of Clearing and Risk oversees derivatives clearing organizations (DCOs) and other market participants in the clearing process, including futures commission merchants. It monitors the clearing of futures, options on futures, and swaps by DCOs, assesses DCO compliance with Commission regulations, and conducts risk assessment and surveillance. DCR also makes recommendations on DCO applications and eligibility, rule submissions, and which types of swaps should be cleared.

Key Requirements:
U.S. Citizenship Background/Security Investigation Males born after 12-31-1959 must be registered for Selective Service Relevant experience (see Qualifications below) Must complete one (1) year supervisory/managerial probationary period Currently an active member in good standing of the bar of a state, territory of the United States, District of Columbia, or Commonwealth of Puerto Rico.

  • Occasional Travel
  • You may be expected to travel for this position.

  • No


Bar Membership: Currently an active member in good standing of the bar of a state, territory of the United States, District of Columbia, or Commonwealth of Puerto Rico.

Vacancy Questions Preview
Grade: 18
No specific questions.
Grade: All Grades
1 Do you have a law degree (J.D. or equivalent), bar membership and demonstrated a high level of professional experience in the field of law, which would allow you to perform as a peer with partners in major law firms, senior government officials and their equivalent? Answer to this question is required

2 I certify, that to the best of my knowledge and belief, all of the information included in this questionnaire is true, correct, and provided in good faith. I understand that if I make an intentional false statement, or commit deception or fraud in any part of this application, or interview associated with the examination process, I may be fined or imprisoned (18 U.S.C. 1001). In addition my eligibility may be cancelled, I may be denied an appointment, or I may be removed and debarred from Federal service (5 CFR Part 731). I understand that any information I give may be investigated. I understand that responding "NO" to this item will result in my not being considered for this position.

This is a Federal job application system. Providing false information, creating fake IDs, or failing to answer all questions truthfully and completely may be grounds for not hiring, for disbarment from Federal employment, or for dismissal after the applicant begins work. Falsifying a Federal job application, attempting to violate the privacy of others, or attempting to compromise the operation of this system may be punishable by fine or imprisonment (US Code, Title 18, section 1001).

Applicants are responsible for citing minimum qualifications such as JD and Bar membership information (institution name, state for bar, and dates) on their respective resumes. Failure to supply details will result in an incomplete application.

This job is being filled under a Schedule A hiring authority 5 CFR 213.3102 and is excepted from the competitive civil service. You will be evaluated and deemed either eligible or ineligible based on the relevance and quality of your experience and education, bar membership, and desired qualifications described above. These positions are not covered by the usual civil service hiring procedures. There is no numerical rating system through which to apply veterans preference; however, CFTC considers veterans' preference eligibility as a positive factor in hiring. Applicants eligible for veterans' preference are encouraged to include that information in their cover letter or resume, and to attach supporting documentation (e.g., the DD Form-214 or other substantiating documents) to their submissions. All eligible applicants will be further evaluated by subject-matter experts.

You will be evaluated on the following technical and leadership requirements. Please ensure that your cover letter and resume addresses these qualifications.

Leadership Qualifications:
1. Leading Change - This involves the ability to bring about strategic change, both within and outside the organization, to meet organizational goals.
2. Leading People - This involves the ability to lead people toward meeting the organization's vision, mission, and goals.
3. Results Driven - This core qualification involves the ability to meet organizational goals and customer expectations.
4. Business Acumen - This involves the ability to manage human, financial, and information resources strategically.
5. Building Coalitions - This core qualification involves the ability to build coalitions internally and with other Federal agencies, State and local governments, nonprofit and private sector organizations, foreign governments, or international organizations to achieve common goals.

Technical Qualifications:
1. Experience leading a program as a compliance or risk management professional designing and implementing regulatory compliance programs, finance surveillance, or examination of derivative clearing organizations, large traders, and clearing futures commission merchants (FCMs).
2. Comprehensive, professional knowledge of the laws, rules and regulations governing the derivatives clearing organizations (DCOs), including futures commission merchants, swap dealers, major swap participants and large traders with emphasis on the Commodity Exchange Act and the Commission's regulations and orders.

Education: Successful completion of a full course of study (JD) in a school of law.

CT-18: You must have at least one year of specialized experience equivalent to that of the position at the next lower grade level in the Federal service (e.g, CT-15 or GS-15). Specialized experience includes experience with oversight of programs concerning risk management or risk operations; leading clearing or clearing operations; leading a program involving regulatory compliance, finance surveillance, or examination of derivative clearing organizations, large traders, clearing futures commission merchants (FCMs); performing analysis and reviews pertaining to risk surveillance activities; or dealing with risk or clearing technology.

Applicants must have demonstrated a high level of experience in managing others in a business or government setting related to financial markets or financial regulation.

Relevant experience is defined as an attorney, law clerk, or other legal experience which was obtained subsequent to graduation from law school.

Top Secret


As the Director, Division of Clearing and Risk (Division), you will serve as the principal policy and technical advisor to the Chairman, Commissioners, and other Commission components concerning the oversight and risk surveillance of Commission registered derivatives clearing organizations (DCOs), clearing futures commission merchants (FCMs), non-FCM clearing participants, and other market participants that may pose risk to the clearing process and the oversight of futures, options on futures, and swaps that are cleared by DCOs. The Director is responsible for managing the Division which has approximately 70 employees. The Division has a Chief Counsel's Office and operates four major Commission programs: Clearing Policy, Risk Surveillance, Examinations, and Product Review. The Director is responsible for the planning, focus, direction and accomplishments of these oversight programs and related functions and activities. The mission of the Division is to assure that DCOs, DCO clearing participants and the clearing of swaps, futures and options are in compliance with the Commodity Exchange Act and Commission regulations, including requirements imposed by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

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