This position is located in the Examinations Branch of the Division of Clearing and Risk. The Examinations Branch plans and executes examinations of derivatives clearing organizations (DCOs) to determine compliance with the Commodity Exchange Act and implementing Commission regulations.

Duties

At the full performance level as a Risk Analyst, you will:  •Plan and conduct examinations of financial, operational, and risk management systems and policies, processes, and procedures of DCOs. Assess compliance with Commission regulations that address the DCO’s risk management of derivatives portfolios, IT systems, and the DCO’s financial resources that are available to cover the default of their largest clearing member(s). Independently prepares examination reports or segments of reports that details findings and corrective actions.•Perform ongoing surveillance activities, including conducting reviews and analysis arising from adverse event-specific notifications filed by DCOs, as well as reviews involving complex or unusual issues arising from financial statement analysis or the clearing and settlement operations of derivatives clearing houses. These notices may contain financial or recordkeeping deficiencies or they many contain incident information regarding hardware or software malfunctions or cyber security attacks. Independently prepare reports that outline the analysis that was performed and their related outcomes.•Develop and perform surveillance activities for analyzing and evaluating market risk, credit risk, liquidity risk and operational risk at DCOs and FCMs, conducts stress test analysis, back-testing analysis, and sensitivity analysis. Identify areas of non-compliance with CFTC regulations, items or practices that do not conform to best practices and market participants that pose unusual levels of risk. Develop historical knowledge of types of risk facing DCOs. This work is applicable throughout the Commission’s programs of oversight over DCOs and clearing members.•Review new DCO applications to determine if the practices and procedures conform to the requirements listed in Part 39 of the CEA and these reviews can result in on-site investigations of issues raised by such reviews.•Participate and train staff in the operation of the surveillance applications such as RSR Express system, SPARK system, SPAN Risk Manager, Vault and other CFTC tools to perform the routine risk surveillance activities.  Maintain proficiency as enhancements are made to the applications and identify areas of the application that could be enhanced and communicate this to management.•Plan and conduct assessments of a DCO’s information technology areas: network architecture, operations, development and quality assurance procedures, information security, including regression testing, vulnerability management, penetration testing, information technology controls testing and patch management, capacity planning, and business continuity and disaster recovery processes and procedures to identify areas of non-compliance with CFTC regulations and industry best practices such as National Institute of Standards and Technology (NIST) and Federal Financial Institutions Examination Council's (FFIEC).•Independently develop and/or modify guides, standards, and procedures to result in the maximum and best use of the data available in each of the system applications. •Using Commission data, independently prepare a risk assessment that identifies potential areas of risk at a DCO and rank the risk. •Plan and conduct reviews of sufficiency of margin levels and collateral deposited that includes performing an analysis of percentage of initial margin used by a change in dollar value for a selected period, prepare quantitative and graphical analysis summarizing the sufficiency of margin levels, collateral on deposit, asset class of the collateral that has been deposited, and perform an analysis of the financial impact of clearing member mark-to-market (variation margin) totals across a single DCO or multiple DCOs.•Analyze DCO quarterly financial resource filings and identify areas of concern, including the DCO’s compliance with Commission financial resource requirements.•Perform special projects as assigned in the area of his/her responsibilities and in support of DCR’s responsibilities in general.

Requirements

• U.S. Citizenship
• Background/Security Investigation
• May be required to serve a one-year probationary period
• Selective Service Registration is required for males born after 12/31/1959

Qualifications

CT-12 Level: To qualify for the CT-12 level you must meet the Selective Placement Factor listed below andhave at least one year of specialized experience equivalent to the next lower grade (GS/CT-11 level).Specialized experience is defined as (1) hands on network architecture design or maintenance; or (2) conducted assessments of vulnerability management results or penetration testing results in order to make recommendations regarding how to remediate the identified problems, complete remediation activities to fix the problems and test to make sure the identified problems have been fixed; or (3) tested information technology controls.CT-13 Level: To qualify for the CT-13 level you must meet the Selective Placement Factor listed below and have at least one year of specialized experience equivalent to the next lower grade (GS/CT-12 level).  Specialized experience is defined as (1) hands on network architecture design or maintenance at a senior level; or (2) conducted assessments of a vulnerability management program or external penetration testing program in order to ensure the program meets the requirements with industry best practices such as NIST and FFIEC; or (3) designed and documented an information technology controls testing program.Selective Placement Factor Expertise in applying NIST or FFIEC Examination Handbook standards to an organization’s information technology infrastructure. *The experience may have been gained in either the public or private sector. One year of experience refers to full-time; part-time work is considered on a prorated basis.

Education

Education is not required, nor may it be substituted for experience.

Contacts

• Address Commodity Futures Trading Commission CFTC Three Lafayette Centre 1155 21st Street, NW Washington, District of Columbia 20581 United States
• Name: Rolanda Morgan
• Phone: 202-418-5624
• Email: [email protected]