Senior Manager - FSRA Markets Operations

at  Abu Dhabi Global Market

The FSRA is responsible for the regulation of Financial Services providers in the ADGM.
The Supervision & Markets Department consists of the Supervision Division (Supervision) and the Markets Division (Markets).
The Senior Manager – Market Operations (M)) is a role within the Markets Department (Markets). Markets is responsible for the authorisation and supervision of trading, clearing, settlement and listing venues within, and connecting to, ADGM.
Covering Financial Instruments, Virtual Assets and Spot Commodities, Markets authorises and supervises Market Infrastructures (being Recognised Investment Exchanges, Recognised Clearing Houses, MTFs, OTFs and Securities settlement facilities), Remote Bodies, Remote Members, Issuers, Reporting Entities and Benchmark Providers (together ‘Markets Firms’). It is also responsible for the development and oversight of the offering, listing, trading, settlement, clearing and surveillance regimes, that are benchmarked to international regulatory standards.
The role of the Senior Manager is to lead one of the four teams within Markets, being the Market Operations (MO) team, with a particular focus on Market Infrastructure operations and risks, including in relation to Virtual Assets, for Markets Firms. The team supports the other teams within Markets, particularly the Market Infrastructure team, across relevant authorisation and supervision aspects, and is responsible for relevant supervisory policies and practices towards creating a diversified, vibrant and robust capital market within ADGM.
The Senior Manager (MO) will be expected to be a key member of the team and work effectively with all colleagues.
The Role reports into the Executive Director – Markets and is expected to support and work closely with other colleagues within Markets and across FSRA (particularly Supervision colleagues) and ADGM.

Operational responsibilities

• Manage and assess operational and technology risks during licencing and supervision of Markets Firms, across trading, settlement, clearing, custody, etc.
• Build and manage regulatory relationships with market stakeholders (Markets Firms, Vendors, Service providers and other regulatory agencies, etc).
• Advise Markets on relevant changes to regional and international regulations and policy that impact Markets requirements relating to Operational risks, including in relation to Virtual Assets (COBS 17).
• Be responsible for the assessment of operational, technology and Virtual Asset-related risks, during both licensing and supervision, of Markets Firms (as part of Markets’ supervisory responsibilities).
• Provide SME support to Markets’ Market Surveillance (including in relation FIX requirements and related connectivity designs), Listing Authority (Disclosure Platform, etc), and wider Markets Firm licensing and supervisory functions.
• Lead/assist in various technology implementation projects across the FSRA as required.
• Keep up to date and advise Line Management on changes to the regulations and policy that will impact Markets functions.
• Deliver on additional tasks that may be delegated from Line Management.
• Adherence to all internal policies, rules and behaviours.

Organisational responsibilities

• Assist in the management of resources and the Markets workplan.
• Support in the development and administration of market operations and risk related rules and authorisation/supervisory processes for the regulation of Markets Firms.
• Support in the administration of rules, policies and procedures governing the initial authorisation, and ongoing supervision, of Market Firms.
• Contribute to the development of the short term and long term objectives of Markets and Supervision Division.

Strategic responsibilities

• Support the Executive Director in providing leadership for and across Markets.
• Continuously improve Markets, and Supervision, practices to ensure that ADGM takes a leading role in market infrastructure, virtual asset and related capital market developments.
• Pro-actively engage with ADGM, regional and international market participants and other stakeholders.

Managerial

• Contribute towards a team culture within the Markets team.
• Creates an environment where team members consistently drive to improve performance.
• Manages team, and stakeholders, with full accountability for achieving overall agreed objectives.
• Manages by effectively empowering team members.
• Takes responsibility for mentoring high potential and most critical talent in their career progression.
• Reviews performance of team and addresses performance issues quickly through clear decisions.

Information Security related

• Understand, adopt, adhere and practice responsibilities or controls as per ADGM Information Security policy and as per best practices explained in the induction and awareness sessions.
• Confidentiality, Integrity and availability of the ADGM Information shall be maintained at all times i.e. within as well as outside ADGM.

Education:

• Minimum Bachelor’s DegreePost Graduate Qualification in Finance (Non-MBA)

Work Experience:

• Minimum 10 years of experience in the same field.
• Proven ability and understanding of technology, operations, regulations, and risk management as conducted by Markets Firms.
• Experience in supervising Exchanges or Clearing Houses.
• Comprehensive understanding of Securities and/or Derivatives markets (locally and internationally).
• Deep understanding of virtual assets activities, and ADGM’s virtual asset regulatory framework.
• Strong internal and external stakeholder management skills.

• Demonstrate strong project management, planning, organisation and analytical skills.Fluent in business English.

Desirable:

• Experience as a development manager, software engineer or systems/security architect.
• Experience in tech-ops of Exchanges, Clearing Houses or MTFs.
• Experience in FIX Feed development, requirements and management.
• Experience in the operation of Exchanges or Clearing Houses.
• Experience in the operations of Virtual Asset activities, including in Custody and/or trading.
• Knowledge of the FSRA Market Infrastructure Rulebook (MIR).
• Experience in dealing with international regulatory bodies.
• Proficient in Arabic or other language(s) and understanding of the Arabic culture.

Operational responsibilities

• Manage and assess operational and technology risks during licencing and supervision of Markets Firms, across trading, settlement, clearing, custody, etc.
• Build and manage regulatory relationships with market stakeholders (Markets Firms, Vendors, Service providers and other regulatory agencies, etc).
• Advise Markets on relevant changes to regional and international regulations and policy that impact Markets requirements relating to Operational risks, including in relation to Virtual Assets (COBS 17).
• Be responsible for the assessment of operational, technology and Virtual Asset-related risks, during both licensing and supervision, of Markets Firms (as part of Markets’ supervisory responsibilities).
• Provide SME support to Markets’ Market Surveillance (including in relation FIX requirements and related connectivity designs), Listing Authority (Disclosure Platform, etc), and wider Markets Firm licensing and supervisory functions.
• Lead/assist in various technology implementation projects across the FSRA as required.
• Keep up to date and advise Line Management on changes to the regulations and policy that will impact Markets functions.
• Deliver on additional tasks that may be delegated from Line Management.
• Adherence to all internal policies, rules and behaviours

Organisational responsibilities

• Assist in the management of resources and the Markets workplan.
• Support in the development and administration of market operations and risk related rules and authorisation/supervisory processes for the regulation of Markets Firms.
• Support in the administration of rules, policies and procedures governing the initial authorisation, and ongoing supervision, of Market Firms.
• Contribute to the development of the short term and long term objectives of Markets and Supervision Division

Strategic responsibilities

• Support the Executive Director in providing leadership for and across Markets.
• Continuously improve Markets, and Supervision, practices to ensure that ADGM takes a leading role in market infrastructure, virtual asset and related capital market developments.
• Pro-actively engage with ADGM, regional and international market participants and other stakeholders