Managing Director, Commercial Initiatives

Venture outside the ordinary - TMX Careers

The TMX group of companies includes leading global exchanges such as the Toronto Stock Exchange, Montreal Exchange, and numerous innovative organizations enhancing capital markets. United as a global team, we’re connecting cross-functionally, traversing industries and geographies, moving opportunity into action, advancing global economic growth, and propelling progress. Through a rich exchange of ideas, meaningful collaboration, and a nimble operating model, we're powering some of the nation's most critical systems, fueling capital formation and innovation, bringing increased opportunity to business visionaries, product ingenuity to consumers, and career exploration to our team.

Ready to be part of the action?

Reporting to the President, CDCC, this role is a critical strategic resource focused on accelerating Post Trade's strategy and objectives. The Managing Director will drive the execution of complex, high-impact market modernization initiatives, providing dedicated delivery leadership to Post-Trade Innovations and CDCC. The main function of this role is to provide dedicated support to Post-Trade Innovations and CDCC in delivering the Post Trade product and client centric solutions.

Success hinges on a proven capital markets expert with deep knowledge of the Canadian capital markets, with an emphasis on fixed income, derivatives and repo markets knowledge, established relationships with key industry stakeholders. This expertise is vital in driving strategic development and managing complex alignment across TMX and core industry partners, including the Bank of Canada (BoC) and CIMPA participants, optimizing and aligning the Post Trade delivery strategy, with special initial focus on delivering and establishing the Canadian Collateral Management Service (CCMS) and Repo 2.0.

Reports To:

President, CDCC and Co-Head, Post-Trade Services

Job Location:

This role is hybrid (2-3 days/week in the office) - we are open to candidates being located in one of our Canadian office locations:
Toronto or Montreal.

• Program Delivery, Stakeholder Coordination, and Optimization
• Unified Product-to-Delivery Lifecycle:
  Partner deeply with the Product Teams across Post Trade to translate product visions, commercial goals, and market requirements into robust, executable program delivery roadmaps.
• Cross-Functional Delivery Governance:
  Establish rigorous execution frameworks, milestones, and governance models that ensure Post-Trade Innovations, CDCC, and CDS operate in perfect lockstep.
• Strategy and Delivery Support:
  Provide dedicated, strategic and delivery support to Post Trade Innovations, CDCC and CDS to ensure the efficient execution of the overarching Post Trade delivery strategy.
• Strategic Initiative Leadership:
  Provide strategic support for the execution and alignment of major market modernization initiatives, specifically the Canadian Collateral Management Service (CCMS) and the Repo program.
• Central Bank Coordination:
  Serve as the primary liaison to ensure strategic and operational alignment required for the Bank of Canada's (BoC) integration into the Post Trade framework, including the implementation of the CCP tri-party repo platform.
• Market and Client Engagement:
  Help cultivate and maintain relationships with key stakeholders (e.g., BoC, CIMPA) to gather strategic insights, champion clearing initiatives, and validate new service proposals for Post Trade.
• Internal

• Enforce key governance, including the formal escalation path and milestone criteria.
• Take direct responsibility for strategic and operational conflict resolution across CDS and CDCC business lines.

• Serve as the primary coordinator for external representation with Clearstream.
• Establish a strict pre-briefing protocol for client engagements to ensure unified messaging regarding value propositions.
• Design and implement a mandatory, structured knowledge-transfer and cross-training program to decentralize business and product expertise.

• Enforce mandatory participation of all dedicated resources in CCMS squad meetings and planning sessions.
• Implement unified resource-tracking dashboards for visibility into team capacity and competing priorities.
• Provide formal performance evaluation input to the functional leaders of dedicated resources.
• Maintain authority to initiate external recruiting processes if internal resource constraints delay critical strategic deliverables.

• Manage hiring, training and development of team members; set comprehensive objectives for individual and organizational performance and growth, enforcing accountability at all levels.
• Recruit, mentor, and elevate a world-class team of delivery professionals and subject matter experts. Instill a culture of extreme ownership, high psychological safety, and continuous improvement.
• Collaborate with other senior resources to ensure that…