Head of ETF Capital Markets APAC, Vice President

Head of ETF Capital Markets APAC, Vice President

State Street Corporation
China Hong Kong
7-10 years
Not Specified

Job Description

Who we are looking for
The APAC Head of Capital Markets is responsible for providing leadership on Capital Markets’ activities and for building a centre of excellence for all capital markets activities across the APAC region, based in Hong Kong. The Head of Capital Markets APAC will be part of the Global SPDR Business and have regional responsibility for APAC as part of the Global Capital Markets team, reporting into the EMEA & APAC Head of Capital Markets.
You will be a strategic thinker, building out the regional strategy, alongside other senior stakeholders, working in partnership with other teams, ultimately strengthening the Capital Markets capability across APAC by managing the coverage of Authorised Participants, Market Makers and Exchanges and internal partners (Custody, Funds Management, Portfolio Managers, Legal, and Transfer Agent). You will contribute on SPDRs ETF product development/ enhancement initiatives, oversee and analyze the secondary and primary market activity with a goal of increasing the overall liquidity and asset gathering of SPDR ETFs.
Why this role is important to us
The team you will be joining is a part of State Street Global Advisors, one of the biggest asset managers in the world, that provides services to the world’s governments, institutions and financial advisors across the globe. With over four decades of experience and trillions of dollars in assets under management, we offer one of the broadest selections of services across asset classes, risk profiles, regions and styles. As pioneers in index, ETF, and ESG investing, we are always inventing new ways to invest.
Join us if making your mark in the asset management industry from day one is a challenge you are up for.
What you will be responsible for
As Head of ETF Capital Markets APAC, Hong Kong you will
You will serve as a most senior leader for Capital Markets in the region, defining and leading the APAC SPDR CMG business and developing engagement plans to support the growth aspirations of the APAC SPDR ETF business.
The role will take direct responsibility for the business across 2 key pillars:
Pillar 1: Primary Markets
This Pillar has activities that relates to:

  • Flow – creation/redemption process

  • Oversight – Secondary Market Liquidity

  • Risk – AP oversight

  • Primary Activities - All activities associated with primary market creation/redemption process and Authorised Participant co-ordination

  • Secondary Market - Liquidity Oversight – All activities associated with maintaining competitive secondary market liquidity for SPDR ETFs – develop and maintain a spread monitor and track spreads on a real-time basis

  • Authorised Participant (AP) Oversight – Develop, lead, and execute plans for AP Oversight, Financial Resilience and ongoing management

  • Seed Capital Management and new product development

    • Own the validation process of new products as it relates to support from market makers/broker dealers

    • Source seed capital for new product launches and ownership of related economic discussions/dialogue

    • Manage seed capital inventory and related issue escalation

    • Partner with Product team to review existing products with a view to strengthening operational/capital markets robustness so as to maintain market competitiveness

  • Market Insight and Intelligence – Own and develop daily insight on market activities - ‘flows’ and ‘why’

Pillar 2 CMG strategic development
This Pillar is strategically focused on positioning APAC CMG business to establish a sustainable competitive advantage vs. other ETF competitors, by leveraging STT and other capabilities on an end-to-end basis.

  • Relationship Management of Regional Stock Exchanges

    • Develop and lead comprehensive B2B relationship management oversight program with Stock Exchanges, Options Exchanges, and other trading venues (e.g. MTFs, online execution venues, dark pools) to monitor and strengthen ETP trading environment.

    • Identify and promote changes required to strengthen ETP liquidity.

    • Partner to enhance visibility and transparency of ETP flows.

  • Relationship Management of Regional Capital Markets Counterparties

    • Develop and lead comprehensive B2B relationship management oversight program with Capital Markets Partners

    • Identify and promote changes required to strengthen ETP liquidity.

    • Partner to enhance visibility and transparency of ETP flows

  • Participate as appropriate in discussions with regional regulators in APAC or industry groups or forums

    • ETF Coalition groups etc.

  • Securities Lending - Partner with broker dealer community and other market participants to facilitate lending of SPDR ETFs and related activities

  • ETF Transaction business model development – e.g. Maker/Taker business model development

  • Create the future – own and develop APAC CMG plan on end-to-end basis [internal project driven initiatives]

  • Thought Leadership – Promote SPDR ETFs as leading commentator on the ETF industry trading and liquidity characteristics and market structure developments.

  • SPDR as a Centre of excellence in a variety of ETF uses including:

  • Delta One [ETF vs. Futures]

  • Securities Finance - Lending/ Synthetics/ Repo/ Collateral Management

  • Structured Products & Option strategies - related hedging requirements

  • Interim Beta

  • Transition Management

  • Span of control - Role will include the following direct reports:

    • APAC Capital Markets Specialist

    • Additional roles to be identified in future business plan in line with regional growth

  • Talent Management - role will be responsible for leading, mentoring and developing a talent and as such the successful candidate will:

    • Attract, Develop and Retain required talent for execution of the CMG plan

    • Motivate the team to be recognized as the highest performing CMG  team industry-wide

    • Manage individuals’ careers and act as mentor for their long-term career growth

  • Business co-ordination across ETF eco system

    • You will lead and develop strong productive working partnerships across all components of the SPDR ETF ecosystem including; Marketing, Distribution, Product, Infrastructure, and PR.

  • Business partnership: You will:

    • Collaborate with regional senior management across SSGA and other State Street business divisions

    • Deliver risk excellence and support the business as a whole through internal and external relationship development

    • Build and maintain strong relationships with key internal partners particularly across Second Line of Defence

    • Facilitate an understanding of the Regional SPDR business and its strategy and priorities across key internal partners

    • Ensure 100% compliance environment; actively identify and address areas of risk

  • Industry Visibility – Lead spokesperson on CMG and ETF liquidity matters within APAC

You will be required to engage in a thoughtful and insightful manner with industry and media entities on matters pertaining to the ETF Industry and the position of APAC SPDR in this industry
What we value
These skills will help you succeed in this role

  • ETF CMG insights

  • Client insights

  • Market insights

  • ETF Product and technical knowledge

  • Business building – business plan development, metrics, management

  • Talent – team building

  • Management Capabilities

  • Peer Partnership – Internal and External

  • SPDR/SSGA/State Street brand and reputation and related opportunities/challenge

Education & Preferred Qualifications

  • Bachelor’s degree of Finance, Economics, Mathematics, Engineering or a similar field

  • 7-10 years of experience in the financial services industry – ETF Trading and pricing, market making, risk management/ liquidity

  • Knowledge of ETF mechanics – create/redeem process, fees, ETF clearing and settlement operations, custody

  • Background experience in the ETF/project management

  • Strong analytical skills with advanced Excel skills, VBA, PowerPoint, Word and Bloomberg

  • Programming languages (Python, BQNT, others) a plus

Additional requirements

  • You have strong ethics and integrity with a strong risk radar and dedicated approach to resolve issues

  • You are confident and credible to achieve consensus with both internal and external parties, with well-rounded communication skills to enable articulation of complex matters in straight-forward manner

  • It is vital that you have a confirmed ability to form constructive relationships with senior management and be recognized as a partner and resource by all.  As such you will have a demonstrable record of engaging with executive teams in shaping business strategy and of being seen as able to identify solutions in addition to potential issues.

  • You have professional curiosity to identify and drive improvements and opportunities with a willingness to get into the detail and frame the solution and senior level presence to provide ‘challenge’ where appropriate

  • You are a good influencer and have strong partnering skill - with clients and stakeholders.

  • You will possess strong verbal and written communication skills

  • You have a willingness to roll up your sleeves and navigate complexity

  • Reliable, rigorous and ability to operate with sense of urgency in a real time trading desk environment

About State Street
What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.
Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary in locations, but you may expect generous medical care, insurance and savings plans among other perks. You’ll have access to flexible Work Program to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.
Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspective are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome the candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift program and access to employee networks that help you stay connected to what matters to you.
State Street is an equal opportunity and affirmative action employer.

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success. Our promise to maintain an environment where every employee feels valued and able to meet their full potential infuses our company values. It’s also part of our commitment to inclusion, development and engagement, and corporate social responsibility. You’ll have tools to help balance your professional and personal life, paid volunteer days, and access to employee networks that help you stay connected to what matters to you. Join us. As an Affirmative Action/Equal Opportunity Employer, we consider applications for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law. For more information, for U.S. jobs only, please read our CEO Statement.

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