Product Manager, Fixed Income & Currencies Markets at Nigerian Stock Exchange

Division: Regulation  
Department: Secondary Market Department
Report to: Head - Secondary Markets Department
Grade: Assistant Manager - Manager
Estimated Date of Resumption: Monday, December 16, 2019

Summary

• The Product Manager, Fixed Income & Currencies Market will be responsible for driving, designing and developing Fixed Income related products on the Exchange.
• He/She will also oversee all functions pertaining to the Fixed Income product line with the overall goal of ensuring that Fixed Income products are appropriately priced, positioned, promoted, and supported in a way that will increase order flow as measured by number of transactions, trading volume and value in line with the overall goals of the department.
• The Product Manager will have revenue drive responsibility for the Exchange’s Fixed Income Products line.
• The role includes responsibility for the day-to-day management of the Bonds market and support to the creation/delivery of new Fixed Income products and markets.
• The Product Manager will serve as the “Product Champion” by proactively disseminating related information while communicating the product message.
• He/She is expected to stay abreast of the competitive landscape and industry trends (utilizing internal and external data/information resources) to create a competitive platform that enables stakeholders realize their investment objectives.
• The Product Manager will own and drive the Fixed Income Market Programme and will ensure the success of these programme by working with all stakeholders (both internal and external).
• The position is situated Nigeria with a global focus to cover both local and international buy and sell side participants.

Key Responsibilities

• Continuous enhancement of the Bond Market micro-structure, as well as development and introduction of new Fixed Income Product lines/markets
• Develop and drive Fixed Income product lifecycle, from creation to launch/operational, as well as product excellence and usage (product management of the market)
• Manage functional market specifications for the product line and product literatures
• Develop the market micro-structure (in areas such as transaction fees, market access and market quality) to increase product profitability
• Catalyze the adoption of global best practices in sales practice, order handling, trade execution, trade reporting, and other initiatives that will enhance the client experience when interacting in the market
• Liaise with the Market Operations and Technology Services to ensure system compatibility with market structure enhancements in support of the Fixed Income product suite
• Work with market participants to increase market liquidity in Bonds and other Fixed Income Products; and consider questions such as length of trading hours, circuit breakers, best execution statistic, Opening and Closing auctions, etc
• Drive review and amendment of trading rules as necessary, to promote fair and orderly trading in Fixed Income Products
• Maintain relationships with broker-dealers, Institutional Investors (PFAs, CPFAs, Insurance companies, managed funds, portfolio managers, etc) and other trading participants locally and internationally
• Serve as a proactive resource to other areas of the organization in order to educate and train them on product attributes and new initiatives
• Coordinate and operate investor education programmes in partnership with other stakeholders on Bonds and other Fixed Income products
• Understand drivers of order flow to the Exchange
• Coordinate and partner with the other product development team members in conjunction with other stakeholders, to design and price products, identify and address key issues that must be resolved before a successful product launch occurs
• Serve as ambassador and product line expert to internal/external parties
• Analyse new product ideas in conjunction with institutional/wholesale distribution and marketing firms to determine success potentials and uniqueness within the industry
• Monitor/interpret product pricing trends and recommend appropriate strategies
• Understand product profitability goals and provide inputs to appropriate financial areas
• Assist in driving the development process once a new product has been approved by all functional areas
• Provide insight and assist marketing on an on-going and proactive basis with respect to product positioning and communication strategies
• Continuously monitor industry trends and competitive environment; recommend initiatives to strengthen market position
• Develop product papers and requisite research papers in support of the objectives of the department Preparation of presentations for ExCo and other key stakeholders

Functional Competencies:

• Excellent Verbal and Written Presentation
• Good working knowledge on institutional and wholesales distribution channels
• Excellent Communication Skills, both Written and Verbal
• Good Understanding of Market Quality Statistics & Best Execution Principles
• Knowledge of order flow drivers and the eco-system around the entire order live cycle
• Knowledge of relevant legal policies, regulations and risk management
• Strategic Planning & Analytical

Behavioural Competencies:

• Excellent Time Management & Multi-tasking abilities
• Relevant experience in trading, sales and operations of Bonds and other Fixed Income products
• Excellent problem solving and structuring skills

Qualifications And Experience

• First degree in quantitative or business related areas
• A post graduate degree (MSc or MBA) or professional certification and licenses (eg CIS, CFA, Finra series 7 and 24) will be an added advantage
• Minimum 8 years of experience in financial services industry, Treasury or in an investment product management/marketing role, or a distribution-related role.