Head Of Market Operations at Capital Market Authority

Head Of Market Operations

Capital Market Authority | Type: Job
Published: 2024-10-21 | Deadline: 2024-11-01

JOB VACANCY ANNOUNCEMENT

Background

Capital Market Authority (CMA) is a specialised organ established by Law No.057/2021 bis of 18/09/2021 with dual mandate of developing and regulating the capital market industry, commodities exchange and related contracts, warehouse receipts systems and collective investment schemes. It operates under the supervision of the Ministry of Finance and Economic Planning (MINECOFIN).

CMA is an active member of the East African Securities Regulatory Authorities (EASRA, and an associate member of the International Organization of Securities Commissions (IOSCO).

JOB DESCRIPTION

HEAD MARKET OPERATIONS

Job Purpose

Reporting to the Chief Executive Officer, the Head– Market Operations is responsible for providing strategic direction as well as technical leadership in matters related to overall market oversight ensuring orderly, fair and efficient market and investor protection while remaining facilitative and proactive in supporting market development.

Job Functions

Advising on market supervision and oversight strategies;
Advising on the appropriateness of supervision and investigatory business processes and procedures;
Providing technical leadership and strategic direction in the design, implementation and evaluation of supervision for the capital markets, collective investment schemes, commodity exchange and related contracts, warehouse receipts system, and any other market segments, as may be assigned by the Law;
Ensuring there are proper regulatory mechanisms in place to boost robust levels of investor protection through effective surveillance, supervision and investigations markets development for the capital markets, collective investment schemes, commodity exchange and related contracts, warehouse receipts system, and any other market segments, as may be assigned by the Law;

Job Specifications

The duties and responsibilities entail:

Advising on market supervision and oversight strategies of the Authority that ensure the market is orderly and fair tending towards market efficiency;
Advising on the appropriateness of investigatory and enforcement business processes put in place at the Authority to provide investor protection when dealing in capital markets and other relevant market segments products and services;
Designing and implementing systems to facilitate timely and effective review of licensing applications and robust oversight of fit and proper assessment for all new and existing market intermediaries/participants;
Providing technical leadership and strategic direction in the design, implementation and evaluation of market supervision, inspection and surveillance programmes to secure compliance of regulatory requirements by all market participants (publicly listed companies, exchanges, central depositories, licensed persons and licensed products) within the capital markets, collective investment schemes, commodity exchange and related contracts, warehouse receipts system, and any other market segments, as may be assigned by the Law;
Developing and overseeing the continuous enhancement of financial analysis functions to grow scope and quality of information for purposes of risk-based supervision, market performance analysis, surveillance and identification of areas for market development;
Providing guidance on monitoring of governance by issuers of securities to the public, ensuring timely review of relevant information filed with the Authority and giving feedback from reviews;
Ensuring there are proper regulatory mechanisms in place to boost robust levels of investor protection through effective surveillance, investigations, and vigorous prompt enforcement to support markets growth, with a focus on pro-active and pre-emptive surveillance to enhance the level of transparency and competition in the market place and facilitate product innovation and creativity;
Designing and implementation of systems for the timely and effective review of transactions/product approval applications to encourage market growth and product innovation;
Developing improved investigations coordination with internal/external investigators and other financial industry regulators to combat market abuse and ensure fair and orderly markets and investor protection;
Assessing the skills and training needs of staff within the Department and facilitate the relevant trainings to ensure there is requisite capacity.
Continuously assessing Department resources needs and being involved in mobilizing the same from internal or external sources;
Coordinating internal and external communication (correspondences, emails, phone calls, etc.) within the Department as well as responding to all relevant enquiries addressed to the Department;
Developing, coaching, motivate and appraising staff performance in the Department;
Undertaking any other duties as may be assigned from time to time.

Recognized Qualifications

For appointment to this position, a candidate must have:

Doctorate Degree or Master’s Degree in any of the following fields: Finance, Economics, Business Administration or any other field related to the position;
If with a Master’s Degree, professional qualifications in Accounting or Finance such as ACCA, CPA, CISI or CFA will be an added advantage
If with professional qualifications, membership of professional accounting or finance body in good standing such as the Institute of Certified Public Accountants of Rwanda (iCPAR) or its equivalent;
At least eight (8) years of relevant working experience; please attach evidence
At least seven (6) years’ experience in managerial position; please attach evidence
Demonstrating experience on policy and economic research, strategic transformation, negotiation skills and dispute resolution;
Demonstrating knowledge in corporate finance, accounting and/or financial markets;
Knowledge about the Rwandan capital market industry will be an added advantage;
Demonstrating leadership skills at senior management level;
Meet the requirements of the Statute governing the management of CMA staff.

Skills and Abilities

Strong written and verbal communication skills, including the ability to prepare and present reports or recommendations to the Board, Management and Staff;
Ability to work independently and as part of a team; with strong collaboration, negotiation, and teamwork skills.
Strong leadership and engagement capabilities including decision making, team building, training and development.
Ability to build and motivate high-performing teams and foster a culture of collaboration and continuous leaning and improvement.
Analytical and strategic thinking and problem-solving abilities
Highly organized, results driven, self-starter, creative and innovative

Application procedure

Interested and qualified candidates should submit their applications online to the following email: recruitment@cna.rw. Applicants must submit the following documents in PDF format: