“Help wanted” to influence Dodd-Frank law

Introduction

As federal agencies bulk up to handle the myriad regulations and studies ordered by the Dodd-Frank law, so is at least one influential industry group.

The Financial Services Roundtable, whose members include Bank of America Corp., BlackRock Inc., Ford Motor Credit Co., Nasdaq, and Visa Inc., is advertising for a lawyer to focus on the Securities and Exchange Commission, which must carry out more Dodd-Frank rulemakings and studies than all other financial agencies combined.

The job description says it will have an “emphasis on SEC advocacy, both with [the] agency and in Congress.” The ideal candidate must be able to compose comment letters to the SEC and other regulators, using the “Open Platform method inviting comments from General Counsels of our 100 member companies,” according to the ad.

The position is for a two-year appointment “with potential for permanent position.” No indication, though, of how much it pays.

Last month, SEC Chairman Mary Schapiro told Congress that her agency will need to add an estimated 800 employees to carry out all the work required by the reform law. The SEC, which has hired Korn/Ferry to help recruit employees, is currently advertising six job vacancies to staff its newly-created Office of Credit Ratings, with pay ranging as high as $210,232 per year.