Senior Manager (Surveillance) - FSRA Markets

The FSRA is responsible for the regulation of Financial Services activities in the ADGM.

The Supervision & Markets Division consists of the Supervision Department (Supervision) and the Markets Department (Markets). This Senior Manager (Surveillance) role is within the Markets Department.

Covering Financial Instruments, Virtual Assets and Spot Commodities, Markets authorises and supervises Market Infrastructures (being Recognised Investment Exchanges, Recognised Clearing Houses, MTFs, OTFs and Securities settlement facilities), 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.

In this role you will be responsible for the day to day activities conducted by the Markets Surveillance team, with accountability for the monitoring and supervision of all trading activities undertaken on Recognised Investment Exchanges, MTFs and OTFs within ADGM, ensuring that such activity is fair and orderly. Surveillance for such purposes extends over all Financial Instruments (Securities and Derivatives), Virtual Assets and Spot Commodities. This role will be focussed on the overall management surveillance alert investigations and management, as well as engagement with vendors and ADGM IT, supporting the wider operations of the Surveillance Team.

The Role reports into the Executive Director – Markets and is expected to support and work closely with other colleagues within Markets and across FSRA (particularly Market Supervision colleagues) and ADGM (including ADGM IT).

Operational responsibilities

• Manage real time / end of day market monitoring, ensuring that Surveillance alerts are coded accurately within set timeframes, and with comprehensive recording of decisions.
• Identify, investigate, manage and escalate potential Market Abuse matters (including for insider trading or market manipulation).
• Ensure the market is monitored for instances where the market may not be fully informed (working, for example, with FSRA Listing Authority colleagues).
• Ensure Surveillance takes a proactive approach to ensure issues are escalated in a timely and professional manner.
• Engage and service a diverse range of stakeholders including exchanges/trading platforms, Market Participants, and data/system vendors.
• Assist with maintaining core systems including issue resolution, scheduled maintenance, upgrades and technical issues.
• Manage the operationalisation of technology upgrades.
• Work collaboratively with internal teams (including on market supervision matters).
• Monitor and update operational procedures and risk controls.
• Perform testing and maintenance of test environments as required.
• Contribute to monthly, quarterly and annual reporting by Markets.
• Assist in various technology implementation projects across the FSRA as required.
• Keep up to date and advise Line Management on changes to the regulations and policy that will impact Markets functions.
• Deliver on additional tasks that may be delegated from Line Management.
• Adherence to all internal policies, rules and behaviours

Strategic responsibilities

• Continuously improve Markets, and Surveillance, practices to ensure that ADGM takes a leading role in market surveillance, Derivative, Virtual Asset and related capital market developments.
• Pro-actively engage with ADGM, regional and international market participants and other stakeholders
• Advise Markets/FSRA on relevant changes to regional and international regulations and practices that impact MIP requirements.

People management

• Support the Executive Director in ensuring that FSRA Markets operates responsibly and proficiently.
• Embed the culture and vision in FSRA Markets by role-modelling organisational behaviours through performance management, feedback and coaching.

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; Finance, Banking, Accounting, Economics, Law or a related discipline.

Work Experience:

• Minimum 10 years of experience in the same field.
• Prior experience leading a market surveillance team, across Securities, Derivatives and Virtual Asset markets.
• Prior experience in establishment, testing, maintenance and operation of market surveillance systems
• Experience in a fast paced deadline driven operational environment.
• Proven ability to work with IT vendors, and internal IT staff and systems.
• Significant understanding of Market Manipulation and Market Abuse practices.
• Experience in FIX Feed development, requirements and management.
• Understanding of Market Infrastructures (exchanges, clearing houses and trading platforms), including knowledge in the operation of such infrastructures (locally and internationally).
• Strong internal and external stakeholder management skills.
• Fluent in business English.

Desirable:

• Experience in supervising exchanges and other trading platforms.
• Knowledge of the FSRA Market Infrastructure Rulebook (MIR), Markets Rulebook (MKT) and Code of Market Conduct (CMC).
• Experience in dealing with local/international regulatory bodies.
• Demonstrated project management, planning, organisation and analytical skills.
• Proficient in Arabic or other language(s) and understanding of the Arabic culture.