Head of Trading

Job category: Banking, Finance, Insurance. Stockbroking

Contract: Permanent

Remuneration: Market Related

EE position: Yes

Introduction

Effectively drive revenue generating activity in the secondary markets to support growth, drive innovation and proactively respond to defending and maintaining markets across asset classes (Equities, Equity Derivatives, Bonds, Interest Rate Derivatives, Currency Derivatives and Commodity Derivatives). Manage teams to deliver the outputs aligned to the departmental strategies. Lead the secondary market teams in delivering excellent client services support and trading functionality across all the JSE's secondary markets.

Business and Financial Results Management

- Develop the budget for Secondary Markets and allocate departmental budgets to meet profit and cost targets without compromising service delivery or long-term growth/sustainability.
- Contribute towards the development and implementation of the annual divisional strategic vision and business plans by assessing the market for business needs, benchmarking against global competitors and engaging regularly to keep abreast of progress and challenges.
- Ensure that the departmental strategy implementation process is on track through goal setting and effective performance management processes.
- Proactive identification of the drivers for success and tracking of leading indicators on a continuous basis.
- Review trading statistics and billing information on a regular basis and review the financial performance of the secondary market departments on a monthly basis to ensure progress towards financial targets.
- Ensure delivery of products and services in ways that contribute to making the JSE successful.
- Assign secondary market managers and team members accordingly to ensure efficiency and that individuals/teams are allocated responsibilities in line with their skill set.
- Make use of statistics and market engagements to identify and track trends and provide valuable insights on JSE business lines and clients.
- Track goal setting and KPIs to ensure the quality of delivery from departmental teams is of a high standard.
- Contribute in Management Committee (MANCO) meetings to convey key information and discuss/address pre-defined strategic and tactical issues/opportunities.
- Participate in Market Shout-Outs to highlight market trends and anticipate trading and listing activities, to contribute to on-the-job training and to embed a markets culture in the Capital Markets division.
- Be aware of opportunities for cross-selling JSE products and services across the business and promote the JSE to clients.
- Represent the JSE through presentations to various constituents, participating in panels and the media on secondary market related topics across asset classes.
- Be prepared to stand in as Recovery Director to ensure continued business operations of the JSE in the event of a business or technical incident/outage/disaster, should the Recovery Director be unavailable.

Stakeholder Relationship Management

- Manage client satisfaction internally through 360 feedback reports and externally through surveys which will include any positive or negative feedback received from stakeholders regarding the professionalism and timeous nature of interaction.
- Interact with peers, department members, direct reports and managers in a way that promotes openness and trust and gives them confidence.
- Ensure that client needs are met and understood through the Key Client Management Unit so that departments are focused on the needs and Service Level Agreements (SLAs) to the JSE’s most critical listed companies and member firms.
- Drive client engagement as a key strategic pillar and segment the target market clients to measure performance against set Key Performance Indicators (KPIs) for client engagement.
- Participate actively in the JSE Client Satisfaction Survey process by following up on action items in order to determine client satisfaction.
- Build strong sustainable relationships with exco members, other MANCO members, peers, direct reports and JSE employees through consistent engagement, effective communication, high quality deliverables, honesty, and prior preparation.
- Ensure that the secondary markets' business performance enhancing ideas are signed off by engaging in interdivisional communication and collaboration and effectively communicating new strategies and major projects.
- Build mutually beneficial relationships with clients and stakeholders through regular and consistent engagement to better understand stakeholders and provide value to the markets.

Process Management

- Craft and execute the secondary markets business plan in collaboration with senior managers and delegate responsibilities accordingly for annual strategy implementation.
- Develop and allocate departmental budgets to enable business units to deliver against targets.
- Accept responsibility for the commercial strategy behind the JSE's secondary (trading) markets, including billing models and pricing philosophy.
- Manage activities, business engagements, deliverables, and own performance in line with the divisional objectives (CM Strategy and KPIs).
- Improve departmental capability and accountability each year by ensuring that strategic outcomes and Key Performance Indicators are clearly defined and communicated.
- Ensure service excellence and productivity improvements by regularly reviewing internal processes and standards, including business processes and resource allocation.
- Ensure that quality and timely decisions are made and problems are solved proactively.
- Ensure corrective actions are addressed by means of a transparent and formalised Performance Management Process.
- Contribute to improvements in policies, processes and practices to ensure these are considered and implemented where applicable.
- Ensure that the JSE secondary markets remain relevant to investors with relevant product offerings and value-based pricing through continuous trends and needs analyses.
- Develop an understanding of competitors and their field of expertise in order to determine areas of improvement or opportunities for the JSE.
- Be aware of the evolving regulatory environment, and adapt strategy and business models to ensure compliance where necessary.
- Ensure that staff are exposed to training and development opportunities that will help them develop skills that will add value to their careers and improve the way we serve our stakeholders.
- Deal with identified and/or escalated challenges regarding client, commercial and service issues through a thorough analysis to decide on a corrective course of action to be implemented by appropriately appointed resources.
- Provide expert guidance regarding the secondary market environment and changes that will impact and drive business decisions that may influence JSE business lines and/or strategy.
- Guarantee the effective running of the JSE trading systems through continuous engagement with stakeholders and extensive software proving through systems and integration testing.
- Resolve escalated service issues through thorough analyses of the situations and risks involved in order to ensure solutions and an acceptable outcome for the client and the JSE.
- Provide thought leadership, insight and strategic direction to the secondary market teams through engagements, workshops and meetings to ensure that the trading functions optimally.
- Contribute to ensuring that trading and related systems availability is in line with international standards and that the market’s integrity and quality is improved on a continuous basis.
- Be accountable as the Market Controller to make and announce the final decision on whether to close any JSE market at any given time as a result of JSE systems or market participants systems outages.
- Be cognisant of and manage business-related risks effectively through engagements with both internal and external stakeholders.
- Provide thought leadership, insight and strategic direction to the delivery of strategic projects in the secondary markets (and related areas).
- Attend to day-to-day identified and/or escalated problems through thorough analyses of the situations and risks involved in order to ensure that the solutions are in line with the divisional strategic objectives.
- Make decisions about best practice and business operations through comparing data from different sources to draw conclusions.

Divisional Team Management

- Ensure all secondary market managers and team members understand and support the JSE vision, divisional strategy and the alignment between them.
- Foster leadership among managers through accountability and skills development.
- Assist in senior recruitment processes to ensure selection contributing to success of division.
- Utilise talent management practices to identify and develop future leaders, retain current talent and ensure business sustainability.
- Raise the standard and skill level of departmental staff, self and direct reports by assessing gaps and development areas and assist in crafting development plans.
- Ensure each direct report has a job profile that accurately reflects their respective responsibilities and requirements.
- Engage and empower direct reports and hold them accountable for business and people management results.
- Assist direct reports in crafting performance agreements with measurable goals and objectives.
- Conduct performance review sessions with direct reports to review performance and progress against targets.
- Hold direct reports accountable for performance management in their areas.
- Help keep the teams motivated through engagement and understanding.

Transformation and Innovation Management

- Be cognisant of BEE/EE development goals in the business.
- Pursue global best practice in support of divisional and JSE goals.
- Encourage innovation and continuous improvement in secondary market departments by recognising appropriate ideas.
- Honours degree in Economics / Business, Accounting, Engineering or related field.
- MBA or Masters degree would be advantageous.
- 12 – 15 years in Capital Markets and/or Equity Market experience with at least 10 years’ experience trading across cash and derivative markets and preferably across multiple asset classes, including 6 years’ experience in managing a function/division.
- JSE culture and values.
- Relevant JSE product knowledge.
- Relevant regulatory knowledge.
- Principles of project management.
- Strategic planning.
- Business continuity standard.
- Business principles.

#J-18808-Ljbffr