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Position Description:
Reporting to the Managing Director of Financial Products and Services, the Managing Director, Global Head of FX Products will be responsible for all facets of development and successful execution of detailed global business plans for the FX Product Group. Working with other CME units as required, Product Heads are ultimately accountable for success in each step in the value chain for their Product Groups, including market research and competitive analysis, new product development, pricing, marketing, advertising, sales, distribution and service. The Managing Director, FX Products will also work closely with other Product Group Heads to ensure appropriate coordination and mutual support in achieving business plans across all Product Groups. Thus, this is both a global business leadership and a strategy development role.
Specifically, the primary responsibilities are: • Direct and maintain a rigorous and on-going examination and documentation of current and anticipated competitive threats and opportunities in the FX futures and options product line, focusing on product design, distribution (e.g. electronic trading platforms) and customer service. • Develop, document, and manage execution of detailed business plans for their Product Group, including, but not limited to: o Statements of facts and assumptions regarding the current and anticipated competitive environment;
o Clearly defined performance objectives, metrics and accountabilities for all parts of the business plan;
o The systems, tools, roles and accountabilities for on-going analysis and reporting of progress against clearly defined objectives in the business plan;
o A mechanism by which business plans are continually assessed and updated during the year to reflect new facts or assumptions regarding the current and anticipated competitive environment. • Direct each member of their staff in developing and successfully executing against detailed sales and business development plans within individual customer or market assignments. • Provide business requirements for technology to support FX futures and options trading (from the client/trader perspective) and recommend future applications to advance the product line. • Work with other senior leaders within the Exchange, including other Product Heads and senior managers in the Marketing, Clearing, Operations, and Technology Divisions to set clear short- and long-term priorities among multiple, often competing interests and opportunities presented with CME. • Direct and work effectively with leaders in other CME units to appropriately plan for and document needs (people, time, money) for special or on-going projects aimed at new product development, enhanced distribution, or improved customer service in their Product Group. • Direct the development and maintenance of operating and maintenance budgets for their department. • Design and implement corrective action as appropriate throughout the year to ensure targeted levels of financial performance are met or exceeded. • Provide guidance and leadership to all members of their staff. Qualifications: In terms of knowledge, experience and qualifications, the Managing Director, Global Head of FX Products must possess a deep knowledge of the global XF market, with a knowledge of both CME’s FX Futures and Options products as well as the OTC FX market; deep knowledge of markets and customer segments, including the financial and economic underpinnings of FX Futures and Options products and how they are used to manage risk; how and why listed products are chosen (versus OTC products, and versus similar products offered by other exchanges) for risk management using CME; and derivatives industry economics in general. The MD must also have a strong understanding of global FX and options markets, trends and customer base and will have established global relationships. This individual must have a clear understanding of electronic trading technologies that support FX trading and foresight to drive technological changes to enhance the trading experience. They must also possess a minimum of 10 years of FX and options product sales and marketing experience with a minimum of five years leading a global sales staff. A BA and an MBA are preferred. The successful candidate will be a seasoned professional who possesses strong leadership, communication, management skills to monitor any changes in the competitive landscape and be ready to quickly adapt to these changes in order to deliver superior customer service. International experience is a key requirement
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