Senior Specialist - FSRA Markets

The Markets Department (Markets) within the Supervision Division (SUP) of the FSRA is responsible for the authorisation and supervision of trading, clearing and listing venues within, and connecting to, ADGM.

Covering Financial Instruments, and Virtual Assets, Markets authorises and supervises Market Infrastructures (being Recognised Investment Exchanges, Recognised Clearing Houses, MTFs and OTFs), Remote Bodies, Remote Members, Issuers and Reporting Entities. It is also responsible for the development of the offering, listing, trading and clearing regimes that are benchmarked to best in class international regulatory standards.

The role of Senior Specialist is to work within the Markets team, with a focus on Market Infrastructures, through the development and implementation of regulations and supervisory policies and practices to create a diversified, vibrant and robust capital market within ADGM.

Operational responsibilities

• Licence and supervise Recognised Investment Exchanges, Recognised Clearing Houses, MTFs and OTFs.
• Build and manage regulatory relationships with market stakeholders (Recognised Bodies, MTFs, OTFs, Remote Bodies and Remote Members)
• Advise Markets on relevant changes to regional and international regulations and policy that impact Markets requirements and offerings.
• Assist, where required, in the operation of FSRA’s ‘Listing Authority’, assisting with the review and approval of Prospectuses, and admissions to and supervision of the Official List of Securities.
• Assist, where required, in the operation of Markets’ Market Surveillance, and Technology/Operations functions.
• Liaise and assist ADGM Business Development team in the identification of target entities, and participate, where required, in participant engagement
• Assist in the setting up and reviewing of the delivery of the Markets Department against KPI’s and SLA’s, identifying areas for improvement.
• Deliver on additional tasks that may be delegated from Line Manager.

Organisational responsibilities

• Support in the development and administration of rules and supervisory processes for the regulation of Market Infrastructures, Remote Bodies and Remote Members.
• Support in the administration of rules, policies and procedures governing the initial recognition, and ongoing supervision, of Market Infrastructures, Remote Bodies and Remote Members.
• Assist, as required, with the formulation and administration of policies, rules and processes governing the offering, and listing, of Securities in the ADGM.
• Contribute to the development of the short term and long term objectives of Markets Division.

Strategic responsibilities

• Continuously improve Markets practices to ensure that ADGM takes a leading role in market infrastructure, virtual asset and related capital market developments.
• Pro-actively engage with ADGM, regional and international market participants and other stakeholders.

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

• Bachelor’s Degree in Finance, Economics, Law, Accounting, or other related degree.

Work Experience

• Minimum 6+ years of experience
• Professionally qualified in one of the following disciplines: Finance, Accounting, Economics, Law or a related discipline.
• Understanding of Market Infrastructures (exchanges, clearing houses, MTFs and OTFs), including knowledge in the operation of such infrastructures (locally and internationally).
• Understanding of virtual assets activities, and ADGM’s virtual asset regulatory framework.
• Knowledge of Market Infrastructure trading and settlement systems.
• Ability and understanding of operations, regulations, and risk management of the capital markets industry.
• Understanding of derivatives and securities (locally and internationally).
• Experience in dealing with local and regional regulatory bodies.
• Fluent in business English.

Desirable:

• Experience in supervising Exchanges, Clearing Houses or MTFs.
• Experience in the operation and/or management of Exchanges, Clearing Houses or MTFs.
• Knowledge of the FSRA Market Infrastructure Rulebook (MIR), Markets Rulebook (MKT) and Rules of Market Conduct (RMC).
• Knowledge of Clearing House clearing & settlement systems.
• Experience in dealing with international regulatory bodies.
• Strong internal and external stakeholder management skills.
• Proficient in Arabic or other language(s) and understanding of the Arabic culture.