TMX – Montréal Exchange
The Montréal Exchange (MX), Canada’s oldest exchange, is a fully electronic exchange dedicated to the development of the Canadian derivative markets. Its products are tailored to meet its domestic and international clients’ expanding needs in risk management.
As the sole financial derivatives exchange in Canada, MX today exerts its leadership in the following areas of expertise: Financial derivatives markets, Clearing services (CDCC), Data analytics (TMX Datalinx), Information technology solutions.
The market for exchange-traded derivatives is one of the strongest segments of the broader financial risk management industry worldwide. MX offers individual and institutional investors, both in Canada and abroad, a wide range of risk management products for protecting their investments and ensuring growth.
Advanced electronic trading software plays a key role in the development of financial exchanges worldwide. MX markets are supported by reliable, flexible and advanced trading technologies.
The Vice President and Chief Regulatory Officer leads the self-regulatory functions of the Montréal Exchange in the public interest. He/she provides visionary, motivational and highly collaborative leadership to promote compliance and protection of the highest standards of market integrity and market confidence. He/she contributes to maintaining fair and equitable markets by favoring innovation, transparency and collaboration with various stakeholders. The position is based in Montréal.
- Lead a best in class regulatory team that maintains the highest standards of fairness, transparency, efficiency and confidence in MX markets;
- Develop market integrity rules that are clear, fair and reflect MX’s public interest mandate;
- Provide an inclusive workplace that fosters cooperation and collaboration, recognizes achievement and encourages continuous professional development;
- Develop and execute a strategic plan for the Regulatory Division;
- Safeguard the independence and autonomy of the Regulatory Division in the execution of its mandate;
- Ensure the Regulatory Division has the sufficient resources (financial, technological and human) to fulfill MX’s self-regulatory organization mandate;
- Ensure budgetary planning and management that maximizes efficiency and effectiveness;
- Ensure visibility, availability and communication with stakeholders, and support a positive public profile for the Regulatory Division;
- Maintain strong and collaborative relationships with regulators (e.g. AMF) and other regulatory organizations (e.g. IIROC);
- Effectively manage governance/oversight relationships and reporting;
- Own and effectively manage risks by identifying, evaluating and responding to those risks based on TMX’s enterprise framework;
- Support the enterprise management of risks by providing risk owners with efficient tools, oversight and effective challenge;
- Maintain independent business functions within the Regulatory Division;
- Work with internal counsel to ensure consistency and coherence of regulatory policy;
- Collaborate with MX and Canadian Derivatives Clearing Corporation (CDCC) to ensure that rules and policies are adapted to market structures and requirements;
- Ensure compliance with the Regulatory Division’s obligations under MX’s recognition order.
- Degree in Law or Finance an asset;
- Minimum 15 years of experience in a relevant field;
- Strong knowledge of regulatory environment and derivatives.
Skills and Knowledge
- Thought leader, strategic thinker;
- Effective influencing;
- Navigate changing regulatory and market environments;
- Manage multiple stakeholders with competing agendas;
- Exceptional communicator;
- Good judgment, decision making in ambiguous and complex situations;
- Deep knowledge of all aspects of derivatives markets and regulatory policy;
- Effective collaboration and decision-making with speed and agility;
- Promote effective collaboration, cohesiveness and agility through actions and trust;
- Fluency in both English and French are a requirement.