Director, CDCC Business Advisory & Regulatory Affairs

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The Lead, CDCC Business Advisory & Regulatory Affairs is our key business partner with responsibility for all legal and regulatory needs of the Canadian Derivatives Clearing Corporation (CDCC), which is systemically important to the Canadian financial markets. CDCC acts as the central clearing counterparty for exchange-traded derivative products in Canada and for a growing range of customized financial instruments. The Lead will play a strategic role in supporting and coordinating the activities of this critical market infrastructure, in order to ensure performance of both its operational resilience and also growth objectives. This individual will work directly with the CDCC leadership team and be thoroughly involved in business strategy, operational matters and risk management, and all aspects of legal and regulatory matters.

In addition, this individual will play a significant role managing regulatory relations with multiple key regulators, including the members of the Canadian Securities Administrators (CSA) and the Bank of Canada (BoC). Given the ever-evolving global regulatory landscape, this individual will remain up to speed on and anticipate regulatory developments in Canada and key international jurisdictions and work within applicable regulatory and/or legislative processes to help ensure any changes are appropriately tailored to our market.

In this capacity the incumbent will provide key regulatory and commercially-driven legal and regulatory advice to, and work directly with, the CDCC business unit. Managing and addressing regulatory expectations in a coordinated way (taking into account enterprise objectives), and supporting ordinary-course and new business initiatives will also be key parts of this role. The candidate, with support of other GCO leaders, will actively advise members of CDCC senior leadership team, and be involved in developing business and regulatory strategy, digging into the details of, and resolving, complex multifaceted issues, managing and coordinating internal resources, and developing relationships with internal and external partners, all with a focus on meeting regulatory expectations and achieving the operational and strategic goals of the business.

Key Accountabilities:

• Advises and works closely with CDCC leaders to help the business unit, and the organization as a whole, achieve regulatory, strategic and operational objectives

• Be the project lead for GCO on significant CDCC initiatives and ordinary course needs (working directly and through GCO expert centres), which will encompass identifying legal and regulatory issues, coordinating internal resources and overall project management, among other things, with support from other GCO leaders

• Provide leadership and mentorship to team members in all respects

• Act as key liaison between internal business teams and the key regulators to ensure compliance with our regulatory oversight model, and effectively manage and address regulatory expectations, balancing the requests of the regulators and resources of the business

• Collaborate with regulators and effectively advocate on new initiatives, rules and policies related to post-trade matters

• Develop and maintain strong relationships with the CSA and BoC with appropriate mid and senior-level staff

• Develop and leverage in-depth knowledge of clearing-related regulatory matters (including Principles for Financial Market Infrastructures, (Canada), and National Instrument 24-102 ) to identify and mitigate risks that the business units may encounter

• Work closely with other GCO leaders, the Chief Risk Officer, and the Chief Compliance Officer as well as Enterprise Risk Management to ensure regulatory expectations and risks arising from new and existing opportunities are appropriately addressed

• Work closely with the Director, CDS Business Advisory and Regulatory Affairs to find opportunities to avoid duplication and leverage the joint leadership skills in both roles, to manage work on behalf of both CDCC and CDS

• Work with the Corporate Secretary to ensure matters are appropriately brought to the CDCC Board of Directors for approval, and review all relevant materials to be presented to the Board of Directors

• Troubleshoot potential issues in advance, aiming to avoid pitfalls and achieve desired results efficiently

• Assist in the development and education plans for legal, risk, compliance and operations staff on regulatory matters

• Educate and advise TMX Group senior executives on new and changing regulatory requirements

Must Have(s):

• Expert communicator, written and oral, in English and French

  (contacts and collaboration with clients and colleagues English only might be needed)

• Member in good standing of a Canadian Law Society or acceptable equivalent

• Minimum 7 years’ legal experience in one or more of the following areas with a reputable company or top tier law firm: banking, corporate lending, financial services, securities, regulatory or corporate law

• Experience working directly with regulators, such as the BoC, members of the CSA and/or Office of the Superintendent of Financial Institutions

• Knowledge of banking, securities, derivatives, and clearing and settlement would be strongly preferred

• Dedicated lawyer that is intent on gaining knowledge of business and the marketplace to advance the organization’s goals

• Team oriented and, ideally experienced working with multiple teams, in a Canadian or global business organization, and effectively builds formal and informal relationship networks inside and outside the organization

• Effective influencer that uses compelling arguments to gain the support and commitment of others

• Experience dealing with complex corporate and commercial matters

• Adept at managing a busy practice with competing priorities, and multiple sophisticated stakeholders and initiatives

• Result-oriented, client focused and practical

• Impeccable ethics

• Demonstrated ability to develop and implement effective legal strategies and objectives

• Strong relationship-building skills with internal and external stakeholders

• Understands how to work effectively within a broader enterprise with overarching priorities

• Contributes to a culture of performance, accountability and inclusivity

In the market for…

Excitement - Explore emerging technology and innovation, as well as ventures and digital finance that shape the future of global markets! Experience the movement of the market while grounded in the stability of close to 200 years of success.

Connection - With site hubs in some of the world’s most multicultural cities, we leverage our size and structure to create rich connections and belonging while experiencing powerful global impact through our work.

Impact - More than a platform, we use our talents to power mission-critical systems that drive global economic advancement, innovation, and growth. As well, our employee-led spreads social good via our giving strategy.

Wellness - From empathetic leadership to a culture of flexibility and balance, we believe wellness at work creates the maximum yield and a stronger “we”. Plus, with a cloud-first and hybrid workstyle, as well as generous time-off and leaves, we support a life well lived!

Growth - From a growth mindset in our work, to expansion in our business, TMX is home to action-takers energized by the achievement of ambitious growth.

Ready to enrich your career with impactful work, leaders who truly care, and the flexibility and programs to help you thrive as part of #TeamTMX ? Apply now.