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World Federation of Exchanges seeks Head Of Regulatory Affairs

World Federation of Exchanges 5<y Senior Level  London, England, United Kingdom 4 Jan 2018

Job Description

Head Of Regulatory Affairs

About The World Federation of Exchanges

The World Federation of Exchanges (The WFE) is the global industry association for exchanges and clearing houses. Headquartered in London, established in 1961, we represent over 200 market infrastructure providers around the world, including standalone CCPs that are not part of exchange groups.

WFE members include stock, futures, options and commodity exchange groups globally, ranging from the CME Group, Deutsche Boerse AG and HKEX to Brazil’s B3, the Johannesburg Stock Exchange and the Colombo Stock Exchange. We also represent standalone CCPs, such as the DTCC and EuroCCP, alongside those operated by our member exchanges.

About 41% of the WFE members are in Asia-Pacific, 40% are in EMEA and 19% in the Americas. WFE exchanges are home to nearly 45,000 listed companies, and the market capitalisation of these entities is over $67.9 trillion; around $84.18 trillion (EOB) in trading annually passes through the infrastructures WFE members safeguard (at end 2016).

The WFE promotes the development of fair, efficient, and transparent markets, working with policy makers, regulators, and standard-setters around the world to support the development of effective rules and standards for exchanges, post-trade infrastructure and market participants. As an organisation we both advocate on behalf of our members and seek to enable the development of markets and of the most efficient market structure.

Since its foundation more than 57 years ago, the WFE has organised, and continues to organise, committees, meetings, general assemblies, conferences, and workshops for its members to transfer knowledge and share expertise.

The Regulatory Affairs Function

The Regulatory Affairs function seeks to deliver the dual objectives of regulatory advocacy, and stakeholder education. Its core mandate is to position the exchange industry and the WFE as the leading voice and stakeholder in global capital markets. We seek to deliver this through:

  • Being a powerful and effective global advocate for the industry;
  • Educating and working with global policy makers to ensure new regulatory initiatives are sensible, and contribute to fair and orderly markets in which consumers can have confidence; and
  • Helping the membership to navigate the complex regulatory landscape.

The Regulatory Affairs team

  • Responds to official consultations
  • Develops position papers on topical regulatory matters
  • Produces educational materials on regulatory issues likely to impact the global membership
  • Builds relationships of trust with bodies including IOSCO, BCBS, the FSB, CPMI-IOSCO
  • Engages strategically with legislators, central bankers, regulators, market participants, academics and other stakeholders
  • Produces weekly, monthly and quarterly regulatory newsletters
  • Represents the organisation at industry conferences and on other public platforms
  • Participates in industry working groups
  • Contributes to WFE research

The Role

We are seeking an experienced Regulatory Affairs executive with 15+ years of experience in setting and shaping financial services policy with global regulators to work with the WFE CEO and the wider WFE team. The candidate will lead a London-based team of four and run an excellent advocacy programme, forging consensus on industry standards in conjunction with WFE members, drafting position papers and identifying themes and topics for proactive stakeholder engagement.

The role requires good technical knowledge of industry issues, a strong network, outstanding drafting skills, a proactive approach and a team player mentality.

The candidate should demonstrate a track record of success in similar prior roles. The role reports direct to the CEO, and the successful candidate will work alongside the Head of Communications and the Head of Research & Public Policy to position the exchange & CCP industry and the WFE as a leading voice and stakeholder in global capital markets.

You will need to be proactive, a self-starter, and be willing to get involved in a wide variety of issues that are relevant to the whole, or a subset of, the membership. This will involve:

  • Engagement on Industry Issues – engaging in a variety of different issues, in a variety of different ways. This may involve classic advocacy work, for example responding to consultation materials, requests for comment, and identifying market trends and offering solutions. It will also involve engagement in industry working groups, and representation of the membership and its views at relevant conferences and on other public platforms;
  • Development of position- and white-papers on topical issues, working with the Head of Research & Public Policy to deliver evidence-based materials, helping to drive/steer policy making, and as an educational tool;
  • Member education – providing regular and ad-hoc update regulatory materials to the membership; and
  • Relationship building and influencing – with relevant WFE stakeholders and committees including IOSCO, BCBS, the FSB, CPMI-IOSCO other trade associations, other professional bodies and institutions, and the WFE membership itself.

Qualifications and Skills

This vacancy would be ideal for a candidate with broad experience of the international policy process and the exchange/post-trade regulatory agenda, and who is looking to make a significant contribution to the development of the voice of exchange and CCP groups.

Minimum/Essential Criteria

  • Previous experience of exchange traded markets and demonstrated knowledge of the market infrastructure regulatory agenda. Being able to demonstrate deep and current knowledge of market infrastructure and its regulatory agenda is essential.
  • Strong track record of international policy development and engagement. The candidate must have a proven track record of applied strategic thinking, with the ability to see the big picture as to how different issues and agendas can be made to fit together across a diverse range of markets, products, practices or issues.
  • Previous experience of stakeholder management and influencing. A proven track record in building and maintaining effective working relationships and consensus at a senior level will be necessary. You need to be decisive, to challenge and be challenged, and negotiate with and persuade policy makers, regulators and market participants.
  • Strong drafting experience. Much of our work is distilling complicated regulatory concepts into clear messages for an international audience. The candidate must therefore be able to demonstrate experience and competence in drafting clear and persuasive materials.
  • Established and current network of senior market infrastructure stakeholders and policy-makers;
  • Demonstrated current knowledge of the post-trade process and its regulatory environment; and
  • Communicating effectively – there is a premium on a demonstrated track record of communicating policy analysis and positions effectively, including on public platforms.
  • Management experience and skills to nurture a growing team with varying levels of experience.

Further Information

  • Start Date: As soon as possible
  • Time commitment: Full time, permanent
  • Compensation: Competitive, dependent on skills and experience
  • Closing date: 22 January 2018 – though please note we will start interviewing shortlisted candidates before the closing date.
  • More Information

Application

If you would like to apply, please provide a CV and cover note articulating why you are interested in, and suited to, the role, to the following email: applications@world-exchanges.org

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