Senior Manager (Market Infrastructure) - FSRA Markets

Role Overview

Senior Manager (Market Infrastructure) at ADGM's Financial Services Regulatory Authority (FSRA), located in Abu Dhabi Global Market. This role sits within the Markets Department's Supervision & Markets division.

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. The Market Infrastructure (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 (Securities and Derivatives), Virtual Assets and Spot Commodities.

Role Purpose

The Senior Manager (MI) leads the day-to-day authorisation and supervision of Recognised Clearing Houses, with particular focus on Derivatives and Virtual Assets. The role requires close liaison with the Director (MI) and other Senior Managers, contributing to the implementation and development of regulations, MI procedures and practices while serving as a key team member on clearing and settlement matters.

Key Responsibilities

Licensing & Supervision

• Own licensing and supervision of Recognised Clearing Houses (particularly Derivatives and Virtual Assets, among other asset classes) in close liaison with Director MI and other colleagues.
• Deliver authorisation and ongoing supervision of Recognised Investment Exchanges, Recognised Clearing Houses, Settlement Facilities, MTFs, OTFs, Remote Bodies, Remote Members, Issuers and Reporting Entities.

Stakeholder Management

• Build and manage regulatory relationships with market stakeholders including Recognised Bodies and regional and global regulators.
• Liaise with other internal stakeholders within FSRA and ADGM as appropriate.
• Pro-actively engage with ADGM, regional and international market participants and other stakeholders.

Regulatory Development & 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.
• Support the Director in terms of oversight of changes to policies and regulations within the team.
• Assist in the development and administration of rules, policies and procedures and supervisory processes for the regulation of Market Infrastructures, Remote Bodies and Remote Members governing initial recognition/authorisation and ongoing supervision.
• Participate in the implementation as well as development and enhancement of regulations and MI procedures and practices.
• Implement regulatory policies.

Continuous Improvement

• Continuously improve Markets practices to ensure that ADGM takes a leading role in market infrastructure and related capital market developments.

Team Leadership

• Create an environment where team members consistently drive to improve performance.
• Manage by effectively empowering team members.
• Take responsibility for mentoring high potential and most critical talent in their career progression.
• Review performance of team and address performance issues quickly through clear decisions.
• Contribute towards a team culture within the Markets team.

Strategic Leadership

• Support the Director / Executive Director in providing leadership for and across Markets.

Information Security

• Understand, adopt, adhere and practice responsibilities and controls as per ADGM Information Security policy and as per 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 Duties

• Deliver additional tasks or carry out any other duties that may be delegated from the Director.
• Participate and deliver on projects that may be allocated.
• Adhere to all internal policies, rules and behaviours.

Qualifications & Experience

Education

• Minimum Bachelor's Degree required.
• Professional qualification in one of the following disciplines: Law, Finance, Banking, Accounting, Economics, or related disciplines.

Experience

• Minimum 12 years of experience in the same field.
• Experience in supervising Recognised Clearing Houses.
• Experience in leading supervisory/regulatory teams.
• Experience of implementing regulatory policies.
• Comprehensive understanding of Derivative Clearing and Settlement Market Infrastructures.
• Expert knowledge of the requirements contained within the FSRA Market Infrastructure Rulebook (MIR) – Chapter 4.
• Comprehensive understanding of Virtual Asset Markets.
• Strong internal and external stakeholder management skills.

Skills & Competencies

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

Desirable Skills

• Proficient in Arabic or other language(s) and understanding of Arabic culture.

Additional Information

Desirable Experience

• Experience in the operation and/or management of Clearing Houses.
• Comprehensive understanding of Securities Markets.
• Experience in dealing with international regulatory bodies.