The Commodity Futures Trading Commission today announced it has completed negotiations to reorganize certain portions of the agency to enhance the CFTC’s operational effectiveness. The changes will take effect November 8, 2020.
“Focusing on our unique mission and improving our operational effectiveness is one of the CFTC’s strategic objectives,” said CFTC Chairman Heath P. Tarbert. “With our organizational structure and strategic objectives now more closely aligned, the CFTC can better fulfill its mission to promote the integrity, resilience, and vibrancy of the U.S. derivatives markets through sound regulation.”
The reorganization includes the creation of four new operating divisions:
- Division of Data: Data personnel from various operating units including the Office of Data and Technology and the Division of Market Oversight have been merged into the new Division of Data to centralize the agency’s data functions. Dr. Tamara Roust, a new addition to the CFTC’s executive leadership team, will serve as Chief Data Officer and lead the division. Dan Bucsa, who currently serves as Chief of Staff to Commissioner Dawn DeBerry Stump and formerly led the Division of Market Oversight’s data and reporting branch, will join the division as Deputy Director of the branch responsible for policy and standards concerning data reporting across the agency.
- Market Participants Division: The Division of Swap Dealer and Intermediary Oversight and the Office of Customer Education and Outreach have been combined to form the new Market Participants Division. Joshua B. Sterling, the CFTC’s current director of the Division of Swap Dealer and Intermediary Oversight, will lead the new Market Participants Division.
- Legal Division: The Office of General Counsel and the Office of the Executive Secretariat have been merged to form the new Legal Division. Daniel J. Davis, the CFTC’s current General Counsel, will lead the Legal Division.
- Division of Administration: The Office of the Executive Director and the customer service elements of the Office of Data and Technology have been combined to form the new Division of Administration. Anthony C. Thompson, the CFTC’s current Executive Director, will lead the Division of Administration.
Additionally, because many of the clearing organizations the CFTC regulates are located in New York, a Division of Clearing and Risk examinations team has been established in the New York Regional Office with certain personnel from the Division of Swap Dealer and Intermediary Oversight’s New York exams staff. The Office of Data and Technology—whose personnel have been merged with the new Data and Administration divisions as well as the Office of Public Affairs—will cease to be an operating unit of the CFTC.
These organizational changes come as the CFTC has recruited top-level executive talent in recent months:
- Chief Data Officer: Dr. Tamara “Tammy” Roust joined the CFTC from the Illinois state government this week to lead the newly created Division of Data. Ms. Roust has more than 20 years of experience in her field, including as Chief Data Officer for the State of Illinois and more than 8 years of prior CFTC service with the Division of Clearing and Risk. She holds a bachelor’s degree from UCLA as well as three master’s degrees and a doctorate degree in IT from Claremont Graduate University.
- Chief Information Officer: Janaka “John” Perera joined the CFTC from the Transportation Security Administration in October to lead the agency’s reorganized IT services unit. A 23-year veteran of the United States Marine Corps who deployed twice to Iraq, Mr. Perera was commissioned as an Information Systems Officer. He holds a bachelor’s degree from Chapman University, a master’s degree in electrical engineering from the U.S. Naval Postgraduate School, and DHS Level III certifications in systems engineering and program management.
- Chief Counsel, Division of Market Oversight: Rachel K. Reicher joined the CFTC from Skadden Arps in April to lead the chief counsel branch of the Division of Market Oversight. Ms. Reicher has 14 years of experience counseling on derivatives law and policy. She holds a bachelor’s degree from Tufts University and a juris doctorate from Boston University School of Law.
- Chief Human Capital Officer: KerriLaine Prunella joined the CFTC in March from Deloitte Consulting to lead the agency’s human resources branch. With 20 years of experience in her field, Ms. Prunella has worked in both the private and public sectors, including 12 years of prior federal service. She holds a bachelor’s degree from Penn State University and a master’s degree from Trinity University.
- Chief Planning Officer: Tomeka Gilbert was promoted into her new role in March after nearly a decade of service at the CFTC in various supervisory business management roles. With more than 15 years of experience in her field, Ms. Gilbert also served as a management analyst for the Federal Energy Regulatory Commission for six years. She holds a bachelor’s degree from Salisbury State University and a master’s of business administration from the University of Maryland University College.
- Chief Financial Officer: Joel Mattingly was promoted into his new role in February after serving more than 5 years as a supervisory budget officer for the CFTC. Mr. Mattingly has 15 years of federal budget management experience, including at the U.S. Nuclear Regulatory Commission. He holds a bachelor’s degree from Brigham Young University and a master’s of business administration from Shepherd University.
“Tammy, Dan, John, Rachel, Kerri, Tomeka, and Joel are part of the most talented and diverse team of senior leadership ever assembled at the CFTC,” added Chairman Tarbert. “I am immensely proud of the team of A-players we have put together.”
The new agency organization chart is available here.
