Nicholas Seidemann Email and Phone Number

Oversee examinations, financial surveillance, and investigations of Futures Commission Merchants and Broker Dealers to ensure compliance with the Commodity Exchange Act, securities regulations, and NFA rules, and ensure they are completed in accordance with the department's standards.Set and communicate expectations, provide on-going feedback, and hold exam staff accountable to agreed-upon essential job functions, competencies, and development plans. Review and revise expectations and development plans as needed.Participate in examination planning meetings and make scoping determinations.Act as the final reviewer on assignments to ensure that deficiencies are adequately reported to member firms and that appropriate corrective action is received.Prepare/review case summaries and all applicable exhibits for disciplinary actions against member firms.Collaborate with company legal staff to ensure that evidence is obtained to support allegations.Review risk memos and assess the immediate need for action.Assist in setting the department's policies based on significant knowledge and expertise in various aspects of NFA/industry practices.Identify, develop, and implement policies and procedures to address inefficiencies and problematic areas and to identify strategic issues.Assist other members of the senior management team with the development and implementation of department and NFA goals.Administer and perform quality review functions for the department quality control program.Provide staff with training and other learning opportunities that will enable them to complete their assignments effectively.Collaborate with managers and other exam staff on scoping decisions, exam reports, and emergency exams.Identify issues, industry events or trends, and ways to improve productivity and quality of the department's assignments and communicate to relevant parties.

Supervised the preparation of Customer Segregated, Secured, and Cleared Swap statements under CFTC regulations and the Customer Reserve computation under SEC rules.Assisted in the compilation and analysis of monthly FOCUS reports.Oversaw and analyze the net capital computation and the calculation of security and commodity-related charges and haircuts.Prepared a summary of the FOCUS report presented before executive management and address related questions.Compiled and submitted quarterly data to the Federal Reserve.Wrote and edited standard policies, procedures, and initiatives for department.Acted as firm liaison with external auditors and regulatory examiners.Assisted in the month-end closing of subsidiary and general ledger systems.Researched new regulatory rules and incorporate into reporting policies and procedures.

Lead and plan risk-based regulatory compliance and financial examinations of clearing members registered as Futures Commission Merchants or Broker Dealers to ensure compliance with the Commodity Exchange Act, securities regulations, and CME Group rules.Oversaw the exam process from beginning to end including the delegation and prioritization of assignments to staff and the review of completed exam work.Reviewed and analyzed 1-FR, FOCUS, and financial statements submitted by clearing members to the exchanges of CME Group. Examined and tested firm-prepared reconciliations, bookkeeping and accounting system files, third-party statements, and compliance documentation to achieve the audit program objectives in an effective and timely manner.Documented and presented audit issues and findings in a clear and concise manner to CME Group and firm management.Incorporated cost/benefit analysis and identified specific risks in setting the test scope for applicable audit programs.Identified and researched audit issues and applicable resolutions/recommendations and financial/operational impact.Researched new regulatory rules, shared and communicated findings, and incorporated into the exam process.Supervised assigned exam staff and conducted performance appraisals for their work performed.Trained less experienced staff to help them develop the skills necessary to complete all aspects of the exam.

Applied accounting principles in maintaining the accuracy of cost of goods sold and related accounts on the company's financial statements.Reconciled physical inventory counts to the general ledger.Analyzed variances and conducts research to verify problems and to make proper corrections.Consulted with store, field and home office managers to resolve problems, answer inquiries and ensure that accounting standards and company policies are followed.Compiled data from monthly financial reports, computer systems and other sources to resolve problems, correct errors and use in analyzing policies and procedures and for assigned projects.Performed end-of-month closing responsibilities and prepared financial reports.Maintained and reconciled inventory, purchases, freight, accruals and sales tax accounts.

Interned in the Internal Audit and Risk Management departments. Advised clients on instituting Sarbanes Oxley Compliance requirements.Interviewed client personnel/management and used findings to document business risks present within the client and controls in place to mitigate risk.Advised clients of adequacy of controls in place after testing controls at the client's worksite.Tested controls within clients Information Technology department.Assisted with new client work proposals.