Division: Trading Business
Department: Secondary Markets
Role: Lead Product Manager, Exchange Traded Funds (ETF)
Grade Cadre: Mid – Senior Management
Nigerian Exchange Limited services the largest economy in Africa, and is championing the development of Africa’s financial markets. NGX Exchange offers listing and trading services, licensing services, market data solutions, ancillary technology services, and more. It is an open, professional, and vibrant exchange, connecting Nigeria, Africa, and the world.
NGX Exchange limited is seeking a dynamic and experienced individual who has a deep understanding of the competitive landscape in the relevant financial markets as ETF Product Manager.
The ETF Product Manager will lead and guide the review /creation of ETF frameworks for the scope of work, proposals, and research and business cases. He/she will oversee all functions pertaining to the ETF product line with the overall goal of ensuring that ETFs are appropriately priced, positioned, promoted, and supported in a way that will increase order flow as measured by the number of transactions, trading volume and value in line with the overall goals of the product management department and will have responsibility
for margins made on ETF Product line.
The Product Manager will also become the “Product Advocate” 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 to realize their investment objectives. The Product
Manager will own and drive the ETF product line and ensure the success of these programmes by developing and maintaining relationships with ETF market participants and relevant external and internal stakeholders. He/she will obtain and maintain knowledge of ETF client business. Set up and attend stakeholder visits and conduct stakeholder presentations.
The position is situated in Nigeria with a global focus to cover both local and international buy and sell-side participants.
• Close coordination with Divisional Heads and Heads of Departments at the Nigerian Exchange
• Close coordination with other flow providers, both local and International
• Close coordination with Index creators and index issuers (both local and international)
• Liaise with fund experts to consistently develop and manage an array of offerings under ETF product line to meet the needs of the investing community and assimilate market feedback into new product development and positioning of existing ETFs
• Define the Nigerian Exchange’s growth strategy and execution plan for the ETF product line to drive product sales & profitability
• Perform data analysis, such as trend and behaviour analysis related to the financial services industry and ETFs product development in general. Using the outcome of analysis and research, underpin recommendations for creating, developing, maintaining and enhancing NSE ETFs Market product
• Responsible for the design and implementation of new ETF Product initiatives: Draft relevant documentation, perform analysis, research, and carry out appropriate planning with cross-market collaboration in mind, when relevant.
• Coordinate activities of ETF liquidity providers to appropriate their functions in promoting liquidity and market efficiency
• Enhance the market microstructure (in areas such as transaction fees, index licensing fees) to increase product profitability
• Advocate transparency of ETFs listed on NGX Exchange by ensuring they observe documentation requirements in terms of structure, exposures, and fair value at all times.
• Liaise with index providers covering the Nigerian market or NGX index committee to ensure the providers meet a strong market demand for new and innovative indices to support ETFs across the asset class
• Responsible for performance i.e. turnover & margins of ETF trading on NGX Exchange
• Liaise with the Market Operations and Technology Division to ensure system compatibility with market structure enhancements in support of the ETF product line and other business partners as necessary
• Create, review and amend ETF trading rules as necessary, to promote fair and orderly trading in ETF
• Manage key relationships with other stakeholders, Broker-Dealers, Market Makers, Institutional Investors (PFAs, CPFAs, Insurance companies, managed funds, portfolio managers, etc.) and other trading participants locally and internationally
• Develop and maintain a broad knowledge and awareness of trading industry developments, competitors, regulator rules that impact ETF trading
• Proactively disseminate investment and product resources to other areas of the organization in order to educate and train Internal/External stakeholders on Product attributes and new initiatives
• Coordinate and operate investor education in partnership with other stakeholders
• Understand drivers of ETFs order flow to NGX 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 gatekeeper, 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 the Listing Sales and Retention team in marketing on an ongoing and proactive basis with respect to product positioning and communication strategies
• Continuously monitor industry trends and the competitive environment; recommend initiatives to strengthen market position
• Assist in the preparation of presentations for ExCo and other key stakeholders
• P & L responsibilities for ETF and Index products
• Perform other related duties as may be assigned from time to time.
• Support other members of the team in the delivery of the departmental goals and objectives.
DESIRED COMPETENCY AND SKILL REQUIREMENTS
• Expertise in ETF creation and investment strategies and ability to research market events that affect ETFs
• In-depth technical understanding of product features, market structure, and regulations that impact ETFs
• Relevant experience in trading, sale-trading, sales
• Solid knowledge of electronic trading, algorithmic trading, or high-frequency trading
• Good understanding of market quality statistics and best execution principles
• Knowledge of order flow drivers and the ecosystem around the entire order live cycle
• Stakeholder Engagement
• Good working knowledge of the asset allocation process, risk management, and leveraging strategies as they relate to the client investment experience
• Experience with multiple investment products and asset classes with specific expertise in ETFs
• Knowledge of the mutual fund, retirement funds, and investment management business
• Good working knowledge of institutional and wholesale distribution channels
• Working knowledge of Microsoft Office, Reuters & Bloomberg platforms
• Strong leadership qualities as well as ability to be a team player
• Strategic planning and analytical skills
• Problem-solving skills
• Excellent time management and multi-tasking abilities
• Ability to function in a high-pressure environment
• Excellent communication skills, both written and verbal
• Thoroughness, attention to detail with a high sense of purpose
• Ability to see the “big picture” from a marketing, positioning, and industry perspective
• Engenders trust and is a reliable resource to internal customers
• Team Members – Provide support and advisory role to Enterprise Innovation Hub Team Members
• External Stakeholders -Provide support and advisory role to external clients on issues relating to the hub and its activities.
• Organization (Divisions, Departments, Unit) – support, provide guidance and required reports/updates to other Departments, Management team.
• Bachelor’s degree in quantitative or business-related areas
• A postgraduate degree (MSc or MBA) or professional certification and licenses (e.g. CIS, CFA, will be an added advantage
• Minimum of 12 years post NYSC relevant experience in financial services industry or in an investment product management/marketing role, distribution-related role.