Head of Compliance
The postholder must manage and lead the Compliance function & administration. The role is critical to managing compliance and reputation risks – works closely with the Board of Directors and Senior Management Team.
Key areas of responsibility:
- Ensure business activities as a Self-Regulatory Organizations (SRO) are carried out in conformity with all applicable laws, regulations, internal policies and procedures.
- Continual compliance risk assessment of the exchange practices together with the development of internal policies and procedures in line with the local and international regulations.
- Monitor the adequacy and effectiveness of the measures designed to comply with the applicable legislation and the actions are taken to address any deficiencies as well as assess such measures and actions on a regular basis, Manages the compliance policies and procedures established by the senior management and the Board of Directors.
- Manage the compliance function including identifying; KPIs, KRIs, and residual risk,
- Provide advice and assistance to the staff responsible for the implementation of the services and activities at CCP to help them comply with their stipulated obligations
- Manage AML software / vendor relationship and SLAs.
- Ensure website Compliance information & materials are current
- Provide marketing and management team’s with current Compliance materials
- Ensure proper due diligence checks of all potential Members are carried out by the team before bringing them on board.
- Provide appropriate and timely management of information on compliance and regulatory issues to the management teams as requested, including mitigating actions.
- Develop and oversee a system for uniform handling of breach of By-laws or violations of the Exchange regulations.
- Submit regular reports to the DGCX Board of Directors on compliance by the Commodities CCP and its employees on all applicable legislations.
- Notify the Authority of any violation of the law or the regulations, decisions or controls issued pursuant thereto or the internal regulations in force in the market.
- Ensure that annual and ad hoc Inspections are carried out effectively.
- Ensure findings of the inspections are communicated to the relevant parties, including the affected members.
- Ensure Members have taken adequate measures to address the concerns raised by the compliance department, including creation of documented compliance mitigation plans.
- Monitor and report on the progress of the implantation of Member compliance mitigation plans.
- Ensure appropriate rules are created for each product launch when required, and accordingly ensure the By-Laws are updated.
- Ensure mapping exercise completed of new regulations annually, as compared against current By-laws.
- Ensure that the By-Laws of the Exchange are recalibrated based on the changing business needs, organizational changes, and/or regulatory changes as noted above.
- At a minimum, Bachelors degree in business, law, finance or related areas of specialisation.
- Law graduates are preferred.
- Compliance certifications. (MLRO, CAMS)
- A high calibre individual with proven experience in a Derivatives Exchange or Equities Exchange and/or working in a regulatory environment.
- Ideally, the preferred candidate shall have a minimum period of 10 years in the relevant field.
- The position will require excellent interpersonal skills and the ability to influence decision making at the Top management level.
- Experience of developing and managing Compliance Monitoring programs will be an added advantage.
- Proven compliance acumen.
- Fluent in English both spoken and written. Arabic at moderate levels can be added advantage.
- Effective communication and listening skills required to interact internally with respective departments and externally with the local and international regulatory bodies.
- Proven leadership and team management skills.
- Presentation & PowerPoint skills at professional career level.
- Independent decision making ability.
- Person with strong personal Integrity.
- Personal resolve to blow-the-whistle against any potential breaches of the Member firms and any wrong doing of any directors and/or Top managements of the exchange.
- Is a team player.
- Strong analytical ability and understanding of laws and regulations.
- Presentation & PowerPoint skills at professional career level.
- Attention to detail and can communicate effectively to attain objectives.
The key responsibilities will include managing a portfolio of existing and developing new business opportunities globally. Working alongside the team (Sales & Products) to build sales pipeline, generate revenue, product development, distribution, pricing strategy, market research, customer relationship management, value chain analysis, and strategy development.
The operating requirements include establishing relationships in core DGCX markets, market participants, high level of analytical skills, drive creativity, delivery results, strategic assessment capabilities for decision making, astute financial and relationship management skills, and exceptional leadership skills.
Key areas of responsibility include, but not limited to:
Drive the business:
- Shape and direct the team’s internal and external efforts to grow and sustain a strong, consistent brand identity among the organization’s constituencies, including the corporate and investing communities.
- Drive and deliver the sales growth of DGCX within targeted markets.
- Deliver revenue and margin targets through effective sales as a result of relationship management and business development.
- Lead and oversee product development this includes but is not limited to conducting due diligence and providing insights.
- Evaluation and management of the corresponding financial implications such as budgetary allocations, expenditures management, ROI & revenue projections, product launch plans, continuous monitoring for market appropriateness and forecasting for long term profitability of overall product portfolio.
- Effectively manage and deploy marketing to implement a comprehensive, integrated marketing and communications program, ensuring efficient coordination of all public and media relations, and management of relationships with contracted marketing, public relations, and advertising agencies.
- Manage and motivate teams, and effectively influence personnel at all levels of the Business
- Responsible for coaching and mentoring members of the staff in standard industry practises and global best practice.
- Minimum of degree education, preferably a postgraduate in Business/Economics/Marketing
- At least 15 years in the financial services industry in senior sales/business development/product management roles, preferably in the exchange space
- High degree of understanding of exchange industry and products, especially commodities, futures and options.