Head of Swap Dealer Compliance (Finance)

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.

Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.

The successful candidate will be responsible for maintaining and continuing to develop a best practices swap dealer (Dodd-Frank Title VII) compliance program consistent with Commodity Futures Trading Commission ("CFTC"), National Futures Association ("NFA"), and Federal Reserve Board ("FRB") requirements. The successful candidate will have the opportunity to transition into the swap dealer chief compliance officer ("CCO") role, reporting to the Head of North America Markets Compliance.

The key responsibilities of the role include:

• Responsible for the Bank's swap dealer compliance program, covering swaps activities in interest rates and foreign exchange.
• In collaboration with stakeholders throughout the organization, responsible for overseeing the ongoing development of processes, policies, and procedures to help ensure compliance with the relevant statutory and regulatory requirements, including rules and regulations issued by the FRB, NFA, and CFTC.
• Annually prepare a report containing a description of the swap dealer's compliance with the applicable regulations as required by CFTC Regulation 3.3.
• Identify and investigate weaknesses in relevant policies, procedures, systems and training and recommend corrective action.
• Maintain an awareness of and monitor the regulatory environment for emerging legislation and policy statements, along with relevant trends and industry best practices applicable to SDs through review of publications, participation in industry associations, contact with regulators, and liaison with counsel and auditors.
• Coordinate with various support and control groups within the swap dealer, such as Legal, Risk, Operations, and IT, to help ensure compliance with applicable requirements.
• Provide advice in connection with existing and proposed laws and regulations, including advice in connection with the implementation of policies, procedures and controls to comply with applicable laws and regulations.
• Serve as the main point of contact for regulatory inquiries and examinations in relation to swap dealer activities.
• Manage regulatory investigations involving the swap dealer, including coordinating (where applicable) with internal and outside counsel and conducting interviews of personnel and reviewing relevant documentation.
• Duties as otherwise assigned. Depending on candidate qualifications, there may be the opportunity for broader responsibilities.

The successful candidate will benefit from having:

• A minimum of 10+ years of swap dealer compliance or legal, preferably with an investment or commercial bank, law firm, consulting firm or regulatory organization.
• Demonstrated experience with the implementation and execution of swap dealer compliance program at a CFTC-registered swap dealer.
• Demonstrated understanding of applicable CFTC, NFA, and FRB swap dealer rules and regulations.
• Experience interacting with regulators, in particular, CFTC, NFA, and FRB.
• Experience interacting with executive and senior management.
• Experience managing teams across geographical regions.
• Familiarity with sales and trading of over-the-counter derivatives, with particular focus on foreign exchange and interest rate derivatives.
• Outstanding written and spoken communication abilities.
• Excellent collaboration, interpersonal and conflict resolution skills.
• Highly organized and capable of dealing with multiple, complex projects simultaneously.

#LI-LK2, #LI-Hybrid

Salary Range:
$137,400 - 240,400 USD

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com .

We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.