Director, Futures and Forex Compliance

About the role

The Compliance Director is a senior leader responsible for the design, implementation, and oversight of Schwab’s Compliance Program for its Futures Commission Merchant (FCM) and Forex Dealer Member (FDM) activities. This role requires enterprise-wide thinking, exceptional collaboration, and the ability to operate across regulated entities and emerging areas, including digital assets and prediction markets.

Core Responsibilities

• Regulatory Oversight

• Administer and oversee compliance policies and procedures for FCM and retail foreign exchange activities, ensuring compliance with the Commodity Exchange Act, and NFA exchange rules.
• Take reasonable steps to ensure compliance with the Act and CFTC regulations related to the FCM and retail foreign exchange business.
• In consultation with the Board of Directors or Senior Officers, identify, manage, and mitigate material conflicts of interest arising from the firm’s activities as a registered FCM and FDM.
• Support the firm’s designated CCO under CFTC Rule 3.3, including preparation, signing, filing and certification of the annual CCO report.
• Act as liaison to the internal team who interfaces with regulators, exchanges, and self-regulatory organizations (SROs).

• Compliance Program Leadership

• Develop, implement, and maintain a comprehensive compliance program covering:
• Futures and options on futures trading and clearing
• Retail foreign exchange and related activities
• Customer protection and segregation requirements
• OTC Cleared Swaps activities
• BSA/AML, fraud, and financial crimes compliance and controls (in partnership with Financial Crimes and Risk Management)
• Ethics, conflicts of interest, conduct risk, and market integrity

• Monitoring, Surveillance, Testing, and Remediation

• Implement monitoring, surveillance, and testing frameworks across trading and clearing.
• Oversee identification, escalation, and remediation of compliance issues.
• Establish and maintain written policies and procedures reasonably designed to handle, respond to, remediate, re-test, and resolve noncompliance issues.
• Ensure robust documentation, audit readiness, and regulatory reporting.

• Governance and Escalation

• Escalate material risks, regulatory developments, and compliance deficiencies.
• Ensure appropriate governance over new products, including risk assessments and formal compliance sign-off.

Qualifications

• Required Qualifications:

• 10+ years in financial services compliance, with significant experience in futures, foreign exchange, derivatives, and FCM & FDM compliance.
• Deep expertise in futures, foreign exchange, clearing, and customer protection rules, including CEA and NFA rules and regulations.
• Strong experience engaging on regulatory inquiries and other matters with the CFTC, NFA, and exchanges.
• Very strong experience leading and managing regulatory examinations, including direct engagement with regulators, coordinating responses, and driving remediation of exam findings.
• Demonstrated ability to lead and operate with independence and authority in a highly regulated environment.
• Ability to translate complex regulatory frameworks into operational controls.
• Exceptional written and verbal communication skills, with the ability to translate complex regulatory information for business stakeholders.
• Excellent judgment in ambiguous and evolving regulatory areas.
• Series 3 license, or ability to obtain.

• Preferred Qualifications:

• Series 34 license, or ability to obtain.
• JD.