The U.S. Securities and Exchange Commission on Thursday announced a new effort to identify and assess risks in the financial markets by recruiting financial industry professionals to serve in its Office of Risk Assessment.

The SEC said that its new Industry and Markets Fellows Program will help the agency expand its ability to oversee complex industry practices and products in today’s markets, and will also help familiarize SEC staff with current industry practices and products.

The commission will immediately begin recruiting candidates with extensive experience in the financial markets, including but not limited to: trading in equity and fixed income securities, structured products, complex derivatives, financial analysis and valuation, fund management, investment banking and financial services operations.

“It’s a great way to bring in highly-seasoned financial experts who can help us keep pace with the practices of Wall Street and protect investors,” said SEC chairman, Mary Schapiro. “Modeled on other successful fellows programs at the SEC, this program will help us strengthen oversight of the securities markets as they evolve, and provide industry veterans the unique opportunity to help us restore confidence in the markets.”

IE