Manager - Market Operations (FSRA Markets)

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 (Markets). This Manager – Market Operations (MO) role is within the Markets Department.

Covering Financial Instruments (across Securities and Derivatives), Virtual Assets and Spot Commodities, Markets authorises and supervises Market Infrastructures (being Recognised Investment Exchanges, Recognised Clearing Houses, Settlement Facilities, MTFs and OTFs), Remote Bodies, Remote Members, Issuers, Reporting Entities and Benchmark Providers (together ‘Markets Firms’). It is also responsible for the development and oversight of the offering, listing, trading, settlement, clearing and surveillance regimes, that are benchmarked to international regulatory standards.

The role of the Manager is to operate within the Market Operations (MO) team, with a particular focus on Market Infrastructure specific operations and risks, including in relation to Virtual Assets, for Markets Firms. The MO team supports the other teams within Markets, particularly the Market Infrastructure team, across relevant authorisation and supervision aspects, and is responsible for relevant supervisory policies and practices towards creating a diversified, vibrant and robust capital market within ADGM.

The Manager (MO) will be expected to be a key member of the team and work effectively with all colleagues, particularly in relation to operational and risk matters, with a focus on Derivative and Virtual Asset trading, custody, clearing and related supervisory practices. 

The Role reports into the Senior Manager (MO) and works closely with other colleagues within the Markets Department and across FSRA and ADGM.

Operational responsibilities

• Assist in the assessment and management of operational and technology risks during licencing and supervision of Markets Firms, across trading, settlement, clearing, custody, etc.
• Assist in the management of regulatory relationships with market stakeholders (Markets Firms, Vendors, Service providers and other regulatory agencies, etc) 
• Monitor and manage specific Virtual Asset operational and technology risks (during licencing and supervision).
• Provide SME Support to Senior Manager in relation to wider supervisory engagements with Markets Firms.
• Keep up to date to advise Markets’ senior management on changes to regional and international regulations and policy that will impact Markets’ (particularly MO) supervisory functions.
• Liaise with other internal stakeholders within FSRA and ADGM as appropriate.
• 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 thereto.
• Adherence to all internal policies, rules and behaviours

Organisational responsibilities 

• Support in the development and administration of market operations and risk related rules and authorisation/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 Market Firms.
• Contribute to the development of the short term and long term objectives of Markets and Supervision Division.

Information Security related 

• Understand, adopt, adhere and practice responsibilities or controls as per ADGM Information Security policy and as per best practices explained in the induction and awareness sessions. 
• Confidentiality, Integrity and availability of the ADGM Information shall be maintained at all times i.e. within as well as outside ADGM.  

Education

• Minimum Bachelor’s Degree.
• Professionally qualified in one of the following disciplines: Software Engineering / Systems Engineering, or related disciplines.

Work Experience: 

• Minimum 8-10 years of experience in the same field.
• Ability in, and understanding of, technology, operations, regulations, and risk management as conducted by Markets Firms.
• Comprehensive understanding of Virtual Asset Markets, including in relation to Virtual Asset Wallet architecture and Wallet tracing systems / tools.
• Expert knowledge of the requirements contained within COBS Rule 17.5, MIR 2.5 and MIR 2.6.
• Strong internal and external stakeholder management skills.
• Demonstrate strong project management, planning, organisation and analytical skills 
• Fluent in business English.

Desirable:

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