Manager - Market Operations (FSRA Markets)

Role Overview

Manager – Market Operations (FSRA Markets) at ADGM, based in Abu Dhabi.

Company Overview

The FSRA is responsible for the regulation of Financial Services activities in the ADGM. The Supervision & Markets Department consists of the Supervision Department and the Markets Department. This role sits within the Markets Department, which covers Financial Instruments (Securities and Derivatives), Virtual Assets and Spot Commodities, and authorises and supervises Market Infrastructures (Recognised Investment Exchanges, Recognised Clearing Houses, Settlement Facilities, MTFs and OTFs), Remote Bodies, Remote Members, Issuers, Reporting Entities and Benchmark Providers.

Role Purpose

The Manager – Market Operations will operate within the Market Operations team with a particular focus on Market Infrastructure specific operations and risks, including Virtual Assets, for Markets Firms. The role supports other teams within Markets on authorisation and supervision aspects, and is responsible for supervisory policies and practices toward creating a diversified, vibrant and robust capital market within ADGM.

Key Responsibilities

Operational Risk Management

• Assist in the assessment and management of operational and technology risks during licensing and supervision of Markets Firms across trading, settlement, clearing and custody.
• Monitor and manage specific Virtual Asset operational and technology risks during licensing and supervision.
• Provide subject matter expert support to the Senior Manager in relation to wider supervisory engagements with Markets Firms.

Stakeholder Management

• Assist in the management of regulatory relationships with market stakeholders including Markets Firms, Vendors, Service providers and other regulatory agencies.
• Liaise with other internal stakeholders within FSRA and ADGM as appropriate.

Policy & Compliance

• Keep up to date to advise Markets' senior management on changes to regional and international regulations and policy that will impact Markets supervisory functions, particularly within Market Operations.
• Support in the development and administration of market operations and risk related rules and authorisation and 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 Markets Firms.

Strategic Development

• Contribute to the development of short term and long term objectives of Markets and Supervision Division.

Delivery & Projects

• Deliver additional tasks or carry out any other duties that may be delegated from the Senior Manager.
• Participate and deliver on projects that may be allocated to the role.

Information Security

• Understand, adopt, adhere to and practice responsibilities and controls as per ADGM Information Security policy and best practices explained in induction and awareness sessions.
• Maintain confidentiality, integrity and availability of ADGM information at all times, both within and outside ADGM.

General Conduct

• Adhere to all internal policies, rules and behaviours.

Qualifications & Experience

• Minimum Bachelor's Degree.
• Professionally qualified in one of the following disciplines: Software Engineering, Systems Engineering, or related disciplines.
• Minimum 8–10 years of experience in the same field.
• Comprehensive understanding of Virtual Asset Markets, including Virtual Asset Wallet architecture and Wallet tracing systems and tools.
• Expert knowledge of the requirements contained within COBS Rule 17.5, MIR 2.5 and MIR 2.6.

Skills & Competencies

• Ability in, and understanding of, technology, operations, regulations, and risk management as conducted by Markets Firms.
• Strong internal and external stakeholder management skills.
• Strong project management, planning, organisation and analytical skills.
• Fluent in business English.

Additional Information

Desirable Experience

• Experience in supervising Markets Firms.
• 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 dealing with international regulatory bodies.
• Proficiency in Arabic or other languages and understanding of Arabic culture.