Fee Staff Auditor
- Chicago, IL, USA
- Permanent, Full time
- Chicago Mercantile Exchange
- 17 Jan 19
Fee Staff Auditor
CME Group is the world's leading and most diverse derivatives marketplace. But who we are goes deeper than that. Here, you can impact markets worldwide. Transform industries. And build a career shaping tomorrow. We invest in your success and you own it, all while working alongside a team of leading experts who inspire you in ways big and small. Joining our company gives you the opportunity to make a difference in global financial markets every day, whether you work on our industry-leading technology and risk management services, our benchmark products or in a corporate services area that helps us serve our customers better. We're small enough for you and your contributions to be known. But big enough for your ideas to make an impact. The pace is dynamic, the work is unlike any other firm in the business, and the possibilities are endless. Problem solvers, difference makers, trailblazers. Those are our people. And we're looking for more.
To learn more about what a career at CME Group can offer you, visit us at www.wherefuturesaremade.com .
The CME fee audit function serves to participate in yearly fee examinations of clearing member firms and periodic reviews of non-clearing member firms, incentive program participants and individual members to ensure compliance with CME Group fee policy requirements, rules and regulations. As an integral part of the exchange revenue safeguard system, it is the Financial and Regulatory Surveillance Department's mission to ensure clearing members are properly remitting transaction fee revenue to CME Group mainly through detailed testing, verification and validation of accounts registered by clearing member firms to receive preferential fees in the Exchange Fee System. A fee staff auditor is also responsible for the review and approval of member firm and incentive program applications in accordance with a detailed review program. A fee staff auditor will also participate in special projects relating to Exchange, industry and department issues. CME Group has approximately 70 Clearing Members and over 1,300 non-clearing member firms and incentive program participants for which the fee team within the Financial and Regulatory Surveillance Department has primary fee oversight responsibility.
• Responsible for most components of yearly clearing member fee examinations and periodic reviews of non-clearing member and incentive program participants in accordance with standardized examination programs.
• Responsible for detailed examination testing and documentation of assigned fee examinations.
• With guidance from senior members of the fee examination team, sets reasonable scopes, identifies problems, researches the problems, and determines and obtains the necessary information from the firm for completion of their assigned examination.
• Responsible for identifying any examination issues and problems.
• Prepares any examination issues and findings in a clear and concise manner. The fee staff auditor, along with a more senior audit team member, is responsible for presenting their findings to the firm.
• Maintains the audit trail and ensures it is logical and organized. Follows the examination process from beginning to end.
• Review and approve member firm and incentive program participant applications.
• With minimal guidance from senior members of the fee audit team, review and approve use of automated trading systems for an individual member owned accounts.
• Learns and understands examination testing procedures and requirements (e.g. completeness, verification.)
• Learn and understands various systems including Exchange Fee System ("EFS"), Enterprise Database ("EDB") and InfoSource.
• Learn and understands equity system documents (e.g. account statements, account maintenance screenshots).
• Learn and understands Exchange Fee Schedules (e.g. CBOT, CME, NYMEX/COMEX).
• Learn and understands rules and regulations (e.g. fee policy bulletins, financial and regulatory bulletins, Exchange rules).
• Bachelor's degree
• Word, Excel, Access, Outlook, Castle, FORTRESS, PeopleSoft Expense and Time Reporting, InfoSource, Exchange Fee System, Enterprise Database.
• Preferred 1 year of relatable experience