Director, Core Regulatory Functions

October 9 2020
Categories Administrative, Public, Regulatory, Govt., Legal, Paralegal, Management, Consulting, Trading, Asset management
Montreal, QC
Bourse de Montréal Inc. (the “Bourse”) is recognized by the Autorité des marchés financiers as a self-regulatory organization. The Bourse’s Regulatory Division (the “Division”) carries out regulatory duties for the Exchange’s markets. Headed by the Vice-President and Chief Regulatory Officer, the Division is responsible for the following regulatory operations: Examinations (trade desks reviews of Approved Participants active on the Bourse’s markets, to verify whether trading practices comply with the Bourse’s Rules); Market Analysis (trade surveillance and market transaction reviews to determine whether trading rules and principles are respected and whether such transactions involve potentially abusive or manipulative trade practices); and the Investigations and Enforcement (the investigation of possible regulatory violations and initiates proceedings by filing disciplinary complaints). The Division is also in charge of filing for regulatory approval and plays an active role in proposing regulatory amendments, whether they are initiated by the Division or the Bourse, and for the sound management and governance of regulatory data.

Reporting to the Vice-President and Chief Regulatory Officer, the Director, Core Regulatory Functions plays a key managerial role in the Regulatory Division of the Bourse. The Director is responsible for ensuring that the Division’s regulatory activities (examinations, market analyses and investigations) are consistent with its mandate and aligned with the established vision. The Director is responsible for three core functions: Examinations, which examines the derivative instrument trading desks of the Bourse's Approved Participants; Market Analyses, which is responsible for the surveillance of trading activities (including position limits); and Investigations, which investigates potential violations of the Bourse's rules.

Your Key Accountabilities and Challenges

  • Lead the teams of each core function, which consist of examiners, market analysts and investigators.

  • Make recommendations to the position’s immediate superior on projects to improve the trading desk examination program for approved participants, processes related to market analysis activities, and investigations;

  • Support the Examinations in the planning of the annual examinations schedule for approved participants and in risk assessments of participants;

  • Support the Market Analysis and Investigations in planning, organizing work and assigning files;

  • Review and approve, as required, the documents produced by each core function, including investigation reports, analyses, etc.;

  • Ensure that each core functions is carried out in a timely and efficient manner consistent with the Division's mandate and vision;

  • Ensure that files are properly transferred to the Coordination Committee, and actively participate in the decisions to be made by its members;

  • Advise the members of each core functions on the conduct of their activities and, in particular, on the application of the Bourse’s rules, including the obligation to trade in accordance with the principles of fairness and the prohibition against using manipulative or deceptive methods of trading;

  • Foster communications and collaboration between all the employees of the Division;

  • Participate in the maintenance of a training program for the personnel under the position’s responsibility;

  • Establish standards and best practices for regulatory activities (including procedures, audit trails, updates, management of confidentiality), and ensure that they are applied;

  • Be accountable for attaining the performance indicators of the departments under the position’s responsibility;

  • Maintain up-to-date information on the regulatory activities of each of the core functions under the position’s responsibility in the Division's information management system;

  • Oversee the development and management of the performance of team members;

  • Participate in meetings of the Special Committee – Regulatory Division when required;

  • At the request of the Vice-President and Chief Regulatory Officer, participate in various committees and conferences;

  • Carry out any other duties that may be assigned, given the role.

Skills and Experience

  • Minimum of ten (10) years of directly relevant experience

  • Bachelor’s degree in finance, law or the equivalent

  • In-depth knowledge of the financial markets, derivative instruments and the applicable regulations

  • Experience in managing a multidisciplinary team

  • In-depth knowledge of the monitoring tools, regulatory data and new technologies used in the financial sector

  • In-depth knowledge of compliance

  • Knowledge of the activities and operations of the Exchange’s participants

  • Canadian Securities Course and derivatives fundamentals course

  • Excellent priority management skills, keen sense of work planning and organization

  • Ability to establish fruitful interpersonal relationships and foster collaboration

Le Groupe TMX s’est engagé à créer et à maintenir un milieu de travail empreint de collaboration au sein duquel chacun est traité avec dignité et respect, et qui reflète la diversité de la collectivité où nous exerçons nos activités. Nous mettons en place des mesures d’adaptation pour les candidats et les employés qui en ont besoin.

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