The Office of Credit Ratings (OCR) is seeking applicants for a temporary promotion for 120 days as the Acting Director position located in Washington, DC. The selected applicant will be temporarily promoted to the Senior Officer position for 120 days.
All qualification requirements must be met by the closing date of this announcement. Time-in-grade for this announcement is one year at the GS/SK-14 level. Qualifying experience may be obtained in the private or public sector. Experience refers to paid and unpaid experience, including volunteer work done through National Service programs (e.g., Peace Corps, AmeriCorps) and other organizations (e.g., professional; philanthropic; religious; spiritual; community, student, social). Volunteer work helps build critical competencies, knowledge, and skills and can provide valuable training and experience that translates directly to paid employment. You will receive credit for all qualifying experience, including volunteer experience. MINIMUM QUALIFICATION REQUIREMENT: SO-01: Applicant must have at least one year of specialized experience equivalent to the GS/SK-14 level. Specialized experience includes the following: Experience applying federal securities laws and rules, particularly those applicable to the credit rating agencies and its participants; Applying the rules under Section 15E of the Securities Exchange Act of 1934 and other applicable rules; Providing advice on post rating reviews of corporate ratings, structured finance ratings, municipal ratings, and other ratings; Compiling specialized written communications derived from a variety of sources; AND Planning, organizing, and overseeing the completion of difficult and sensitive projects that may have no precedent.
If selected, you will serve as the Director, Office of Credit Ratings. Typical duties include: Leading the Office of Credit Ratings staff and providing overall strategic direction and management oversight for the office. Leading oversight of credit rating agencies pursuant to the requirements of the Dodd-Frank Act, including the production of studies and development of recommendations. Managing a group of team members that will examine, monitor and analyze developments at credit rating agencies registered with the Commission as nationally Recognized Statistical Rating Organizations (NRSROs) under Section 15E of the Securities Exchange Act of 1934. The results of this work inform senior policy makers at the Commission and is frequently shared with other relevant regulators in the US and internationally. Managing the annual examinations of the credit rating agencies required by the Dodd-Frank Act and the preparation and publication of an annual public report on such examinations. Formulating, implementing and interpreting policies, rules and regulations applicable to registered credit rating agencies, consistent with the Commission's statutory mandates under the Exchange Act and subject to approval by the Chairman and other Commissioners as appropriate. Overseeing the execution of on-site examinations of NRSROs for compliance with Commission's rules and applicable provisions of the Exchange Act and works closely with other Commission divisions/offices in the preparation of the studies and reports. Assessing the economic impact, feasibility, practicality, and effectiveness of existing and/or proposed legislation, standards, regulations, and/or policies in order to develop, review, and/or approve high-level policies that have a broad impact on the NRSROs.