Senior Manager - Market Infrastructure (FSRA Markets)

Role Overview

Senior Manager – Market Infrastructure at ADGM (Abu Dhabi Global Market), located in Abu Dhabi. The role is within the Markets Department of the Financial Services Regulatory Authority (FSRA), which regulates Financial Services activities in ADGM.

Company Overview

The FSRA is responsible for the regulation of Financial Services activities in ADGM. The Supervision & Markets Department consists of the Supervision Department and the Markets Department. The Markets Department's Market Infrastructure Team 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. The team authorises and supervises Market Infrastructures (Recognised Investment Exchanges, Recognised Clearing Houses, Settlement Facilities, MTFs and OTFs), Remote Bodies, Remote Members, Issuers and Reporting Entities, and is responsible for developing offering, listing, trading and clearing regimes benchmarked to global international regulatory standards.

Role Purpose

The Senior Manager (MI) is responsible for day-to-day authorisation and supervision of Recognised Investment Exchanges, with particular focus on Derivatives and Virtual Assets. The role contributes to the implementation, development and enhancement of regulations, MI procedures and practices, working in close liaison with the Director (MI) and other Senior Managers, and serves as a key team member addressing trading and exchange-related matters.

Key Responsibilities

Authorisation and Supervision

• Own licencing and supervision of Recognised Investment Exchanges, particularly Derivatives and Virtual Asset asset classes, in close liaison with Director MI and other colleagues.
• Deliver expert knowledge of the requirements contained within the FSRA Market Infrastructure Rulebook (MIR) – Chapter 3.

Stakeholder Management

• Build and manage regulatory relationships with market stakeholders, including Recognised Bodies and other regulators (regionally and globally), and relevant FSRA and ADGM staff.
• 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 Intelligence and Policy

• Keep up to date to advise Markets' senior management on changes to regional and international regulations and policy that 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, procedures and supervisory processes for the regulation of Market Infrastructures, Remote Bodies and Remote Members governing initial recognition/authorisation and ongoing supervision.

Operations and Projects

• Deliver additional tasks or carry out any other duties delegated from the Director.
• Participate and deliver on projects allocated thereto.
• Continuously improve Markets practices to ensure ADGM takes a leading role in market infrastructure and related capital market developments.
• Adhere to all internal policies, rules and behaviours.

Managerial and 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 and 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 best practices explained in induction and awareness sessions.
• Maintain confidentiality, integrity and availability of ADGM information at all times, both within and outside ADGM.

Qualifications & Experience

• 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 Investment Exchanges.
• Comprehensive understanding of Derivative and Virtual Asset (Exchange/CLOB) trading.
• Comprehensive understanding of Virtual Asset Markets.
• Experience in leading supervisory and regulatory teams.
• Experience of implementing regulatory policies.

Skills & Competencies

• Expert knowledge of the FSRA Market Infrastructure Rulebook (MIR) – Chapter 3.
• Strong internal and external stakeholder management skills.
• Demonstrate strong project management, planning, organisation and analytical skills.
• Fluent in business English.

Additional Information

Desirable Qualifications and Experience

• Experience in the operation and/or management of Investment Exchanges.
• Comprehensive understanding of Securities Markets.
• Experience in dealing with international regulatory bodies.
• Proficient in Arabic or other language(s) and understanding of Arabic culture.