Head of Electronic Execution at Rand Merchant Bank

To align best practice of electronic execution across all asset class and trading desks, specifically with regards developing and codifying electronic market making for the relevant asset classes in coordination with the relevant asset class trading desk heads. To lead and define the strategy and implementation of electronic trading in the FX space across client and counterparty electronic venues. To lead the practice of electronic trading analytics incorporating the latest application of market microstructure modeling and other mathematical techniques to enhance the delivery of strategy across our automated electronic trading businesses. Ensuring innovative and integrated risk trading strategy design and deployment to enable improved performance, competitive positioning and market share. An essential aspect of the role is to promote brand integrity and thought leadership within Markets across all pillars and externally within the broader industry
Business lines under the Head of Electronic Execution would include Electronic FX. Additional reporting line would be the Markets Strat team
Responsibilities

•       Create, refine and drive the long-term business strategy for electronic FX trading
•       Adjust strategy to anticipate the changing local and international environment
•       Evaluate secular themes that impact the business, consider all feedback, recommendations, both areas of focus and opportunities within a regulatory environment
•       Analyse market trends, uncovering unmet needs and opportunities for expansion
•       Present strategy to the broader Markets business through the budget process 
•       Formulate an appropriate set of metrics / data MIS to be able to determine and attribute the value of flow and risk taking
•       Formulate a Remunerations Model differentiated by quality of income
•       Capital and Operating Budget
•       Control and right size the direct and indirect cost base underpinning the business
•       Build and maintain sound working relationships with all stakeholders, displaying excellent abilities to initiate strategic dialogue and listen, advise, influence, negotiate and make presentations at all levels
•       Directs difficult conflict situations into consensual agreements
•       Integrate opinions and information provided by various sources to make strategic business decisions
•       Adapt communication styles to meet the needs of different audiences
•       Continually scan the industry to identify relevant decision-makers as well as their context and priorities
•       Continually look for opportunities to network and create strategic partnerships with key individuals and bodies
•       Find opportunities to leverage relationships and share appropriate information, ideas and insights
•       Represent Markets on relevant bodies
•       Coordinated and aligned working relationship with the new Coverage model
•       Close interaction with the associated Business Managers (enabling through prioritization and transaction specific governance processes)
•       Interactions with the IT cluster (FXPH Customer Dealing; GEM; Digital Channels and Continuity; etc) and the need to be clearly aligned and collaborating to ensure we maximise the return on our effort and in the right asset classes
•       Interactions with the liquidity providers and management of these relationships
•       Interactions with the digital channels (both internal SDP’s and market based MDP’s)
•       React to breach of limits, adhere to the escalation procedure and maintain constant oversight to risk
•       Influence and instill a culture of risk health within an owner manager culture
•       Reduce operational risk and ensure robust processes/ systems are in place to foresee where processes are weak. Minimize, measure, monitor and mitigate all events
•       Stay abreast and apply legislation, both local and global
•       Translate compliance into tactical business rules and implement within a regulated environment
•       Recognizes, initiates, drives or implements change required for potential changes in legislation
•       Ensure the team is represented on strategic industry bodies, to ensure the business is current and informed
•       Effectively manage the financial resources available
•       Align budgets with strategy and provide accurate measurement
•       Maintain the current success through competitor awareness and stay abreast of all new non-conventional competitors that can change business
•       Scan and analyze all markets and competitor’s results
•       Lead and inspire team
•       Develop teams’ skills and career growth. In addition, demonstrate a strategic shift in skills mix over time which would fit into the strategy of the business
•       Ensure staff continuity and right sizing

Qualifications and Experience

•       Degree in Commerce / Finance / Mathematics or similar field

Experience:

•       7-10+ years’ senior markets experience across various asset classes
•       Electronic trading experience in FX
•       Strong technical skills with a good grasp of how technology is transforming the trading floor

Technical Pre-requisite

•       Proven ability to understand client needs and to convert opportunities into revenue
•       Deep rules and regulatory understanding
•       Deep financial market infrastructure understanding
•       Deep understanding of Operational processes underpinning the business
•       Ability to build and run a business

Competencies:

•       Leadership Capabilities
•       Cognitive Capabilities
•       Interpersonal Capabilities