Unit Head-Monitoring & Enforcement at Nigerian Stock Exchange

Report to: Unit Head-Compliant Management & Regulatory Approvals, BDR
Division: Regulation
Department: Broker Dealer Regulation Department
Grade: Unit Head-Monitoring & En
Estimated Date Of Resumption: Tuesday, 2nd October, 2018

Job Summary

• The Monitoring & Enforcement Unit is involved with monitoring the activities of Dealing Members to ensure that they operate in compliance with the Rules and Regulations of the Exchange. It enforces the Rules when incidents occur.
• The unit also has the responsibility of reviewing financial and regulatory reports of Dealing Members to assess their financial state of affairs on and on-going basis.

Key Responsibilities

• Oversee the activities conducted by the Unit
• Develop key performance indicators and drive the implementation of the plans and strategies for the Unit
• Provide assurance on the integrity of the Monitoring and Enforcement processes
• Review and analyse periodic renditions from Dealing Members of The Exchange and ensure that all renditions are prepared in line with relevant accounting standards and the rules and regulations governing Dealing Members of The Exchange
• Recommend appropriate enforcement actions against defaulting Dealing Member Firms in line with the rules and regulations governing Dealing Members of The Exchange
• Conduct Spot checks and ad-hoc inspections where necessary
• Liaise with other units and departments in the course of compliance and enforcement related activities to ensure The Exchange’s zero tolerance policy is upheld
• Develop periodic reports for both internal and external stakeholders
• Review Dealing Members financial performance and capital adequacy on a regular basis
• Conduct regular risk profiling of Dealing Member Firms
• Review Dealing Members compliance profile with the NSE rules and regulations
• Initiate disciplinary procedures and processes against defaulting market participants in line with The Exchange’s zero tolerance policy
• Maintain a schedule and track enforcement deadlines
• Send frequent notifications and reminders to defaulting firms ahead of deadlines
• Monitor the compliance status of firms and update the Broker TraX reports on a regular basis
• Drive the implementation of Dealing Member Net Capital reporting on a regular and periodic basis for enhanced capital adequacy monitoring
• Preparation of the annual departmental budgets
• Perform other tasks as assigned by the Head of the Department

Functional Competencies:

• Analytical Thinking
• Data Gathering and Analysis
• People Management
• Project Management
• Microsoft Office Packages

Behavioural Competencies:

• Collaboration

Qualification and Experience

• Minimum of B.Sc (Second Class Upper Division) in Accounting, Finance, Economics, Statistics, or related fields
• MBA or Professional qualifications in Finance i:e ACA, ACCA, CPA etc
• Experience in any of the Big 4 Audit firms or as a CBN certified Bank Examiner.