Duties
This position is located in the Division of Market Oversight (DMO) in the Compliance Branch. The Branch is responsible for providing oversight of self-regulatory responsibilities at all designated contact markets (DCMs) and swap execution facilities (SEFs) to promote market integrity, customer protection and compliance with the Commodity Exchange Act (CEA) and Commission regulations. The Branch also is responsible for system safeguards oversight of DCMs, SEFs, and Swap Data Repositories (SDRs).
At the full performance level, duties may include:
- Conducts examinations, known as Rule Enforcement Reviews (RERs) to evaluate DCM and SEF self-regulatory programs and compliance with the CEA and Commission regulations through working with a team to determine the scope of RERs and generally participates in all aspects of planning and conducting RERs.
- Drafts RER initiation letters and document requests, develops, and drafts questions for interviews and participates in on-the-record interviews of senior exchange officials.
- Reviews RER documentation, completes checklists, and identifies industry best practices. The incumbent will work with team members to identify exchange non-compliance with the Act and Commission regulations and assist in developing findings and recommendations. The incumbent also will have substantial responsibility for drafting RER reports and presenting findings to the Commission.
- Work on inter-divisional teams in review of DCM and SEF registration applications; including participating in all aspects of planning and conducting reviews that involve comprehensive analysis and evaluation of applicant’s self-regulatory programs.
- Adheres to the Act, Commission regulations, and policies consistent with general legal principles and reasonable in light of cash and derivatives market practices or other practical or operational considerations.
- Collaborates with the Market Review Branch to review and analyze rules submitted by exchanges relating to trading, governance, disciplinary, audit trail and recordkeeping to ensure that exchange rules, operations, and practices meet the statutory standards of the Act and the Commission's regulations and policies.
- Addresses legal and policy issues and problems related to derivatives trading and the CFTC’s oversight program to identify, plan, and solve issues and problems; includes working on rulemakings.
- Provide technical guidance to the Deputy Director and Division Director regarding matters related to the oversight of regulated entities and advise on interpretations of law or on proposed changes in market-related regulations.
Requirements
Conditions of employment
- U.S. Citizenship
- Favorable Background/Security Investigation
- Males born after 12-31-1959 must be registered for Selective Service.
- May be subject to a two-year trial period.
- Must be an active member of the bar in good standing.
Applicants are responsible for citing minimum qualifications such as JD and/or LLM equivalent 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.
Qualifications
BASIC REQUIREMENT: All applicants must possess the following:
- J.D.; and
- Active membership of the bar in good standing in any state, territory of the United States, the District of Columbia, or the commonwealth of Puerto Rico. (Note: proof of bar membership will be required before entry on duty)
AND
To qualify at each grade level, you must have the following:
CT-13: You must have a J.D. Degree and/or LLM equivalent, bar membership and 3 years of relevant legal practice experience, acquired after being admitted to the bar, commensurate with the duties and responsibilities of a legal position. Relevant experience is defined as an attorney, law clerk, or other legal experience which was obtained subsequent to graduation from law school.
Demonstrated skill in research and analysis of sophisticated legal issues, as well as excellent written and oral communication skills. Knowledge of commodities or related law and regulations, financial markets, corporate law, and general administrative law.
CT-14: Candidates with a law degree (J.D. or equivalent) and bar membership and 4 years of relevant legal experience after completion of law school.
Relevant legal experience is defined as attorneys, law clerk, or other legal experience which was obtained after graduation from a law school. Legal and non- legal experience gained in the Federal government or private sector prior to completing a law degree cannot be used to satisfy the legal experience requirement. Work while in law school does not count.
Demonstrated skill in research and analysis of sophisticated legal issues, as well as excellent written and oral communication skills. Knowledge of commodities or related law and regulations, financial markets, corporate law, and general administrative law. Knowledge of derivatives markets, including futures, options, and swap markets.
Selections may be made at either grade level.
Education
Successful completion of a full course of study (J.D.) in a school of law accredited by the American Bar Association (ABA).
To be creditable, education must have been obtained in an accredited college or university. You must report only attendance and/or degrees from schools accredited by accrediting institutions that are recognized by the U.S. Department of Education. For a list of schools that meet this criterion, see www.ed.gov.
SPECIAL INSTRUCTIONS FOR FOREIGN EDUCATION: If you are using education completed in foreign colleges or universities to meet the qualification requirements, you must show that the education credentials have been evaluated by a private organization that specializes in interpretation of foreign education programs and such education has been deemed equivalent to that gained in an accredited U.S. education program; or full credit has been given for the courses at a U.S. accredited college or university. For further information, visit: http://www.ed.gov/about/offices/list/ous/international/usnei/us/edlite-visitus-forrecog.html
Additional information
Relocation: Relocation expenses will not be paid.
Trial Period: As a condition of employment for accepting this position, you may be required to serve a 2-year trial period during which we will evaluate your fitness and whether your continued employment advances the public interest. In determining if your employment advances the public interest, we may consider:
- Your performance and conduct;
- The needs and interests of the agency;
- Whether your continued employment would advance organizational goals of the agency or the Government; and
- Whether your continued employment would advance the efficiency of the Federal service. Upon completion of your probationary/trial period your employment will be terminated unless you receive certification, in writing, that your continued employment advances the public interest.
This is a Bargaining Unit position located in the National Treasury Employee Union (NTEU) Chapter 337.
More than the number of positions listed may be filled through this vacancy announcement.
The overall salary range is provided for informational purposes as it represents the full range that is applicable to current employees in this occupation/grade. A new hire's direct and overall experience are critical factors in determining a salary offer, therefore, it is important that your resume fully reflects all of your work experience. Note that the upper end of each range is typically applicable only to candidates with significant years of work experience and qualifications Please review the CFTC Compensation Program website for additional information.
The law prohibits public officials from appointing, promoting, or recommending their relatives. The law prohibits requesting, making, transmitting, accepting, or considering political recommendations for employment or other personnel actions for non-political positions. This includes recommendations from Members of Congress, Congressional employees, elected state or local officials, and political party officials and any recommendation based on party affiliation.
Candidates should be committed to improving the efficiency of the Federal government, passionate about the ideals of our American republic, and committed to upholding the rule of law and the United States Constitution.
A career with the U.S. government provides employees with a comprehensive benefits package. As a federal employee, you and your family will have access to a range of benefits that are designed to make your federal career very rewarding. Opens in a new windowLearn more about federal benefits.
Review our benefits
Eligibility for benefits depends on the type of position you hold and whether your position is full-time, part-time or intermittent. Contact the hiring agency for more information on the specific benefits offered.
How you will be evaluated
You will be evaluated for this job based on how well you meet the qualifications above.
This job is being filled under a Schedule A hiring authority 5 C.F.R. § 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.
Your resume will be referred to the selecting official if you have submitted a complete application package to include resume, bar membership details, and any applicable transcripts. This does not mean you are considered qualified for the position. A qualification analysis will be conducted to ensure the selectee meets all requirements, including education and minimum qualifications listed on the vacancy announcement. A complete application package is required to be considered qualified and eligible for selection. Please review the "Requirements" section of the vacancy announcement to understand the list of required documents for a complete application package. Additional information may be requested later in the recruitment process.
Veterans' Preference: There is no formal rating system for applying veterans' preference to attorney appointments in the excepted service; however, the Commodity Futures Trading Commission considers veterans' preference eligibility as a positive factor in attorney hiring. Applicants eligible for veterans' preference must indicate their preference in response to the appropriate question in their assessment questionnaire (it is also recommended that information is included in their cover letter or resume) and they must submit supporting documentation (e.g., DD 214, Certificate of Release or Discharge from Active Duty and other supporting documentation) which verifies their eligibility for preference. Although the "point" system is not used, per se, applicants eligible to claim 10-point preference must submit Standard Form (SF) 15, Application for 10-Point Veteran Preference, and submit the supporting documentation required for the specific type of preference claimed (visit the OPM website, http://www.opm.gov/forms/pdf_fill/sf15.pdf for a copy of SF 15, which lists the types of 10-point preferences and the required supporting document(s). Applicants should note that SF 15 requires supporting documentation associated with service-connected disabilities or receipt of non-service-connected disability pensions to be dated 1991 or later except in the case of service members submitting official statements or retirement orders from a branch of the Armed Forces showing that his or her retirement was due to a permanent service-connected disability or that he/she was transferred to the permanent disability retired list (the statement or retirement orders must indicate that the disability is 10% or more).
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