EMEA Global Markets Trading and Foreign Exchange Trading COO

EMEA Global Markets Trading and Foreign Exchange Trading COO

At BNY, our culture allows us to run our company better and enables employees’ growth and success. As a leading global financial services company at the heart of the global financial system, we influence nearly 20% of the world’s investible assets. Every day, our teams harness cutting-edge AI and breakthrough technologies to collaborate with clients, driving transformative solutions that redefine industries and uplift communities worldwide.

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The BNY Markets division helps our clients formulate, implement and execute their investment strategies. It provides clients with financing, execution, liquidity and collateral solutions that are integrated within BNY’s ecosystem.  Within the Markets division we have the Global Markets Trading (GMT) unit, which is comprised of the Foreign Exchange, Fixed Income, Equities & Capital Markets businesses. 

Our full-service FX business accommodates every element of the currency transaction lifecycle, from initiating a position in the spot or derivatives market, FX payments, Overlay hedging to programmatic execution using algorithms.

Our Fixed Income and Equities businesses trade a wide variety of securities and can connect clients to a unique universe of counterparties, including broker-dealers, fund managers, family offices and wealth managers.

We’re seeking a candidate for the role of EMEA Global Markets Trading and Foreign Exchange Trading COO, based out of our London office and reporting to the Chief Operating Officer of Global Markets Trading in New York.

This leadership role will involve partnering with the EMEA Heads of FX, Fixed Income & Equities & the Head of Foreign Exchange Trading and their respective leadership teams to continue to build out the respective UK & European GMT Franchise and Global FX Trading Businesses.  The successful candidate will join a highly motivated and experienced COO team. The primary responsibilities for the successful candidate will include: (1) Driving transformational change across the EMEA GMT & Global FX Trading businesses, (2) Develop and execute business strategy, and (3) Represent the business in projects, operational life-cycle events, regulatory and control initiatives, and core COO activities. 

In this role, you’ll make an impact in the following ways: 

Leadership: Act as trusted strategic advisor to the GMT Business Heads and the Global COO to develop and execute strategic plans that align with global business objectives. 

Performance Monitoring: Analyze key performance indicators and financial metrics to assess business performance, identifying areas for improvement and strategic growth.

Market Analysis & Competitor Benchmarking: Stay informed about market structure developments and competitor landscape to inform strategic decisions and maintain a competitive edge.

Team Leadership & Talent Management:

Lead and mentor small local team of COO professionals, fostering a culture of high performance, collaboration, and continuous improvement. 

Focus on attracting and retaining top talent to Global Markets Trading, fostering a culture of continuous learning and development, and ensuring that the team is equipped with the skills needed to succeed in a dynamic market environment.

Identify training and development needs within the team to ensure skill enhancement and career progression.

Oversee resource allocation to ensure optimal support for business execution and strategic initiatives.

Industry Representation: Represent the bank in key industry forums and regulatory committees, contributing thought leadership and influencing market standard development. 

Strategic Partnerships: Build strategic partnerships with external entities such as other financial institutions, technology providers, fintech’s and industry groups to enhance trading capabilities and market reach.

Drive Strategic Alignment: Lead regional EMEA initiatives to align local practices with global standards. Oversee front-to-back integration across Sales, Trading, Product, Engineering and Operations by collaborating with business heads and infrastructure partners to drive efficiency and resilience

Initiatives & Milestone Management: Deliver key business updates to senior business leaders on commercial milestones, initiatives, and challenges.

Stakeholder Engagement: Build and maintain strong relationships with internal stakeholders across various departments, including Trading, Sales, Legal, Compliance, Risk, Finance, HR, Operations and Engineering. 

Business Planning: Develop a comprehensive plan including technology and product initiatives, expenses, and headcount in collaboration with key business partners, aligned with the strategic direction and growth opportunities of the business.  Partner with the CFO function, to develop and manage budgets for GMT EMEA & Global FX Trading, which align to global budgets, and ensuring cost control and alignment with financial targets.

Operational Efficiency and Process Improvement: Engage with GMT service provider partners to implement process improvements to enhance operational efficiency across the platform.  

FX Product Development: Collaborate with the FX Trading and FX Product teams to develop and launch new FX products, services, and solutions that meet the evolving needs of clients in market making / liquidity provision and internal risk management optimization. 

Regulatory Adherence: Ensure compliance with all relevant EMEA & Global FX regulations for the GMT business including Volcker, MiFID II, EMIR, and CASS, by working closely with Compliance, Legal and Regulatory teams.

Risk Oversight: Implement and monitor risk management frameworks to mitigate operational, market, and credit risks associated with EMEA GMT & Global FX Trading activities.

Audit & Compliance Testing Coordination: Manage internal / external audits and Compliance Testing reviews, ensuring timely resolution of any identified issues and maintaining robust control environments.

Crisis Management: Develop and implement plans to handle market disruptions, regulatory changes, and other unforeseen events that could impact trading operations.

• To be successful in this role, we’re seeking the following: 
• Entrepreneurial and self-directed – operate as an owner
• A dynamic problem solver – consistently utilises a solution driven mindset focused on execution

A trusted advisor with the tenacity and business acumen to provide thought leadership to deliver positive commercial outcomes and shape medium-term outlook

Ambitious and driven to deliver business strategy transformation

Detail oriented – understands the nuances that can impact overall outcomes

A strong influencer and thoughtful communicator who can express complex ideas in simple, practical terms tailored to a specific audience

Able to learn, develop, and take on additional responsibilities when required

Capable to lead senior management meetings

Communication Skills: Excellent verbal and written communication skills, capable of effectively conveying information to various stakeholders across 1st Line, 2nd Line and 3rd Line stakeholders

Qualifications:

Broad experience in Financial Services with significant experience of Foreign Exchange, Fixed Income and Equity Markets

Good understanding of FX Trading pricing, the foreign exchange market structure and risk management

Regulatory Knowledge: Comprehensive UK & European regulatory expertise, partnering with the JST, the FCA, and all relevant UK and EMEA regulators to address FX trading requirements across Foreign Exchange, Fixed Income, Equities and Sales & Trading businesses.

Analytical Abilities: Strong analytical and problem-solving skills, with the ability to interpret complex data and make informed decisions.

• Experience and demonstrated results in operating a global team environment 
• High level proficiency in the MS Office application required
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Our Benefits And Rewards:

BNY offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life’s journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves, including paid volunteer time, that can support you and your family through moments that matter.  

BNY is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.