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Head, Regulation & Examination At KPMG Nigeria

Date Posted: 04/Jul/2014
Deadline: 17/Jul/2014

KPMG :Our client, FMDQ OTC PLC (FMDQ) is a Securities and Exchange Commission (SEC) licenced over-the-counter (OTC) market securities exchange and self-regulatory organisation. The company which was registered in November 2012, has a mission to empower the OTC financial markets to be innovative and credible, in support of the Nigerian economy.

FMDQ as an industry initiative is owned by the Central Bank of Nigeria (CBN), Financial Markets Dealers Association (FMDA), commercial/merchant banks and discount houses operational in Nigeria as at 2010 and the NSE Consult Limited (a subsidiary of the Nigerian Stock Exchange). FMDQ is poised to ensure high market integrity through focus on market governance and compliance, market development and data services.

In line with its vision to be the most liquid, efficient, secure anti technology-driven OTC market in Africa by 2018, the company is looking to hire individuals with deep understanding of the capital market, to drive this vision in the capacity of functional heads in the following areas:

Head, Regulation & Examination

Ref No: TFMD001

Job Description
Reporting to the MD/CEO and the Board Regulation and Supervision Committee (BRSC), the successful candidate will be responsible for the Regulation & Examination Division (RED) of FMDQ. RED drives FMDQ’s self-regulatory function. The Division will update the various membership categories, listings and quotations regulation/compliance, ensuring they meet international standards and monitor members’ activities. The Division will also report outcomes of regulatory issues in the OTC market to FMDQ Management, Board and the Regulators e.g. Securities and Exchange Commission (SEC).

Key Responsibilities

  • Oversee and monitor the implementation of the self-regulatory function of FMDQ
  • Periodically review capital market regulations and build FMDQ network with global stakeholders to ensure alignment with leading market practices and other regulatory policies
  • Develop, coordinate, participate in regulatory programmes and seek to ensure that Management and market participants are knowledgeable of and comply with regulatory standards and procedures
  • Develop FMDQ’s members’ surveillance, examination and macro-prudential frameworks and programmes


  • Draft and execute securities market surveillance rules and regulations in line with international industry best practices
  • Implement written policies and standards of conduct within the OTC market
  • Participate in the meetings of the 8RSC as constituted by the Board of Directors
  • Engage the market with impending changes to FMDQ Rules, as well as notify market participants of changes made
  • Develop effective lines of communication with market participants, various industry committees, trade associations, financial services regulators and international bodies like International Organisation of Securities Commission (IOSCO). Financial Industry Regulatory Authority (FINRA), European Securities and Markets 4ithority (ESMA) etc.
  • Enforce standards through well publicised disciplinary guidelines and develop policies on sanctioned market participants
  • Respond promptly to detected offences, developing corrective action and reporting findings to the relevant regulatory authorities via established channels
  • Maintain documentation of regulatory activities, such as complaints received or investigative outcomes
  • Handle alt regulatory reporting issues and ensure effective record keeping
  • Conduct or direct the internal investigation of dispute issues and refer to the appropriate committee for follow-up
  • Identify issues that require follow-up and/or investigation
  • Report violations of compliance or regulatory standards to the MD/CEO and the BRSC as appropriate

Qualifications and Experience

  • First degree in law or business related major e.g. economics, accounting, finance, and business administration or any other relevant field
  • Postgraduate degree or relevant professional qualification will be desirable
  • Twelve (12) to fifteen (15) years’ of financial services experience in securities exchange, capital market regulatory function, or financial services preferably in capital market-related regulatory compliance
  • Advanced knowledge of local and international regulations (IOSCO, FINRA, ESMA, Basel, Markets in Financial Instruments Directive - MiFID etc.) and laws relating to financial markets and self-regulatory agencies

Competency and Skills Requirement

  • Strong knowledge of regulatory governance, fiscal accountability, project management and relationship management
  • Sound negotiation and conflict resolution competencies as well as deep skills in business performance monitoring
  • Strong leadership and interpersonal skills with an excellent ability to effectively manage and communicate at all levels in the organisation
  • The incumbent for the job must possess good multitasking skills, must be driven and demonstrate sound business ethics
  • The incumbent for the job must demonstrate keen attention to details, possess organisational/managerial savvy and must have integrity

Method of Application
Interested and qualified candidates should send their CV’s to: [email protected] with the relevant job title and code stated in the subject line of the email.

Each application must include:

  • A cover letter detailing the applicant’s position of interest and detailed contact information
  • Applicant’s updated curriculum vitae
  • Copies of relevant credentials and certificates

All applications will be treated in confidence. Only shortlisted candidates will be contacted.

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