PURPOSE AND SUMMARY
Heading up the Market Surveillance and Trading Operations Group from a hands on perspective within the organisation's Operations department fulfilling a number of functions, including:
a) Responsibility for transaction monitoring and surveillance to detect potential or actual market abuse and for ensuring a proper market for trading.
b) Onboard and support Members on an ongoing basis.
The candidate will have previous experience of working at an exchange, multilateral trading facility (MTF) or at a traditional sell-side brokerage/investment firm within a market monitoring or surveillance function. The candidate will also have a solid understanding of the FSRA s rule books and definitions of market abuse. This position presents the chance to grow and develop in a forward thinking business function that is on the front line of compliance defence and will require the candidate to adapt to a constantly changing environment.
ESSENTIAL DUTIES AND RESPONSIBILITIES
• Responsibility for all aspects of market surveillance and trading operations activities day
• Recruitment, training and ongoing supervision of the team as it grows
• Monitoring members /participants trading activity through covering all real-time alerts and T 1 alerts for compliance with the Exchange trading protocols and for potential market abuse under the rules of the Exchange and the Regulatory Authority
• Investigate and document rule breaches and alerts and their resolution, using the firm s alert case management tool, completing secondary analysis where appropriate
• Recording and investigating all inquiries raised by members/participants regarding another member s/participant s trading behaviour. This could include breaches of trading protocol or potential market abuse.
• Follow up on all issues identified to ensure appropriate resolution
• Resolve rule breaches, complaints or other issues
• Interaction with senior compliance and/or trading personnel at firms
• Liaise with the FSRA, specifically the market conduct team
• Recommend action to senior management relating to market abuse
• Monitoring and recording patterns of trading for potential referral to the FSRA or other regulators
• Project a robust but commercial regulatory regime
• Build excellent working relationships both internally and externally with participant firms
• Documenting of Compliance issues, writing and keeping specific policies up to date
• Produce a weekly management report of all issues identified
• Regularly update monitoring procedures in line with business growth and applicable regulation
• Maintaining and updating the mapping of surveillances to the corresponding sections of the FSRA rules, identifying new market monitoring reports/alerts as required, including participation in their development, testing and implementation
• Maintaining a level of knowledge in regard to actions, protocols and forks being announced and keeping participants informed and where applicable ensuring the Product development team takes suitable action
• Critically evaluating monitoring systems, processes and procedures, ensuring all market monitoring procedures are up to date with any new initiatives, market developments and regulatory changes
• Participating in the firm s annual Compliance Audit
• Contributing to the firm s responses to FSRA consultation papers on the Market Abuse Directive and other relevant legislation and rules
• Liaise with account managers to ensure that prospective trading participants have fully completed and sent in all necessary compliance on-boarding documentation
• Work with account managers to ensure that the Client Database is kept up to date
• Speak directly with firms wishing to join the organisation to explain the on-boarding process and to resolve any documentation queries
• Create client files and review documentation to ensure that it is complete
• Prepare client files for approval by the organisation's approval committee.
• Work with the operational support group to ensure that everyone has the correct codes, firm details, access to markets, etc
• Keep procedures for the on-boarding process up to date to reflect any changes in process/legislation
• Draft market notices/ guides and arrange for these to be placed on to the company's website for firms/ participants to view
• Manage various projects and deadlines
• Good working knowledge of Market Abuse Directive
• Good understanding of how central limit order books/ exchanges works
• Good understanding of the functionality relating to digital asset classes
• Knowledge of forthcoming regulatory changes and their impact on exchanges
• Excellent written skills
• Excellent interpersonal skills
• Good organisational skills
• Good investigative skills
• Effective team worker, with the ability to work without supervision
• Strong ability to analyse, interpret and report in a clear, concise manner
• Developing knowledge of the rule book and overarching regulations which impact the business
• Effective relationship building skills, working with various levels internal and external leaders including regulators
• Ability to act on, and resolve problems is essential
• Knowledge of FSRA regulatory regime;
• Familiar with completing Know Your Client/Anti-Money Laundering checks
• Client focused
• The applicant will have at least 8 years experience of working within securities and derivatives markets preferably within electronic trading market surveillance.
• Degree preferred
PERSON SPECIFICATION AND ATTRIBUTES
• Good attention to detail and accuracy
• Good report writing/presentation skills
• Able to deal with staff at all levels
• PC literate MS Office. Ideally advanced user of Excel.
• Languages useful but not essential.
• Strong communicator
• Solid analytical skills
• Possess interest and ability to learn quickly
• Ability to work well under pressure.
Will be required to work in shifts to handle full trading hours (8 hours per shift) or to such time as the role requires as part of a shift system