Senior Manager; Market Infrastructure

Overview

The FSRA is responsible for the regulation of Financial Services activities in the ADGM. The Supervision Markets Department consists of the Supervision Department, Supervision, and the Markets Department.

This Senior Manager – Market Infrastructure (MI) role is within the Markets Department. The MI Team within the Markets Department is responsible for the authorisation and supervision of all trading, clearing, settlement and listing venues within and connecting to ADGM, covering financial instruments across securities, derivatives, virtual assets and spot commodities. The MI team authorises and supervises market infrastructures including recognised investment exchanges, recognised clearing houses, settlement facilities, MTFs and OTFs, remote bodies, remote members, issuers and reporting entities.

It is also responsible for the development of the offering, listing, trading and clearing regimes that are benchmarked to global international regulatory standards.

• Day‑to‑day authorisation and supervision of recognised clearing houses, with a focus on derivatives and virtual assets.
• Contribute to the implementation, development and enhancement of regulations, MI procedures and practices.
• Work effectively with all colleagues, especially in relation to clearing and settlement matters.
• Responsible for licensing and supervision of recognised clearing houses, particularly derivative and virtual asset classes.
• Build and manage regulatory relationships with market stakeholders, including recognised bodies and other regulators, regionally and globally.
• Keep up to date and advise markets senior management on changes to regional and international regulations and policy.
• Support the Director in oversight of changes to policies and regulations.
• Liaise with other internal stakeholders within FSRA and ADGM as appropriate.
• Deliver additional tasks or carry out any other duties delegated from the Director.
• Participate and deliver on projects allocated to the role.

• Assist in the development and administration of rules, policies and procedures for the regulation of market infrastructures, remote bodies and remote members governing the initial recognition, authorisation and ongoing supervision thereof.
• Continuously improve Markets practices to ensure that ADGM takes a leading role in market infrastructure and related capital market developments.

• Creates an environment where team members consistently drive to improve performance.
• Manages by effectively empowering team members and takes responsibility for mentoring high potential and most critical talent.
• Reviews performance of the team and addresses performance issues quickly through clear decisions.
• Contributes towards a team culture within the Markets team.

• Supports the Director and Executive Director in providing leadership for and across Markets.
• Pro‑actively engages with ADGM, regional and international market participants and other stakeholders.

• Understands, adopts, adheres to and practices responsibilities or controls as per ADGM Information Security policy.
• Maintains confidentiality, integrity and availability of ADGM information at all times.

• Minimum Bachelor’s degree. Professionally qualified in one of the following disciplines:
  Law, Finance, Banking, Accounting, Economics or related disciplines.
• Minimum 12 years of experience in the same field.
• Experience in supervising recognised clearing houses.
• Comprehensive understanding of derivative clearing and settlement market infrastructures.
• Expert knowledge of the requirements contained within the FSRA Market Infrastructure Rulebook (MIR) – Chapter
  4.
• Experience in leading supervisory/regulatory teams.
• Comprehensive understanding of virtual asset markets.
• Experience in implementing regulatory policies.
• Strong internal and external stakeholder management skills.
• Strong project management, planning, organisation and analytical skills.
• Fluent in business English.
• Desirable:
  Experience in the operation and/or management of clearing houses.
• Desirable:
  Comprehensive understanding of securities markets.
• Desirable:
  Experience dealing with international regulatory bodies.
• Desirable:
  Proficient in Arabic or other languages and understanding of Arabic culture.