Charles Schwab seeks futures/forex compliance director to help shape crypto procedures

Charles Schwab is seeking a compliance director for its futures and forex team, and the job post for the role offers clues to the financial services firm's crypto ambitions.

The Block reported last month that Charles Schwab is currently exploring the launch of crypto brokerage, with sources saying at the time that the firm is looking into how it can offer crypto trading to customers via partnerships with industry companies. The idea is that such services would be white-labeled from a crypto industry partner as early as the end of 2021. 

The new job posting appears distinct from that potential business line, but it does involve some crypto aspects. A Google search for the role indicates that the earliest listing is dated April 1. 

As the job description notes:


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"The Futures Compliance Team in Corporate Risk Management supervises all aspects of compliance for Schwab’s futures, forex and virtual currency business, including risk assessments, policies and procedures, training, senior management reporting, Audit and Regulatory exams, testing and managing actions stemming from findings, observations or self-identified issues."

Among the designated duties include "[e]stablishing a virtual currency compliance program." The job listing notes elsewhere that the director role involves:

"Supporting projects to implement regulatory and risk initiatives related to Schwab’s futures, forex and virtual currency business through engagement with multiple corporate oversight groups including, Legal, Corporate Risk and Supervision & Controls. This includes any mergers and acquisitions affecting futures compliance [and]...[m]aintaining a keen understanding and awareness of the futures, forex and virtual currency business model, product offerings, regulatory environment and policy infrastructure."

Under the list of required experience areas, the job listing highlights "10 years industry experience, with 5 years futures, forex and virtual currency compliance and regulatory experience."

About Author

Aislinn Keely is a reporter on The Block's policy team holding down the legal beat. She covers court decisions, bankruptcies, regulatory actions and other key moments in the legal sphere, putting them in context for the wider crypto industry. Before The Block, she lent her voice to the NPR affiliate WFUV and helmed Fordham University's student newspaper. Send tips or thoughts on all things policy and legal to or follow her on Twitter for updates @AislinnKeely.