The Hong Kong Monetary Authority (HKMA) is charged with the responsibility for maintaining the stability and integrity of the monetary and financial systems of Hong Kong.
CMU OmniClear Limited (CMU OmniClear) is a wholly owned subsidiary of the Exchange Fund. It carries out the operation and business development activities of the Central Moneymarkets Unit (CMU) on behalf of the HKMA. As part of the critical financial market infrastructure in Hong Kong, CMU is a central securities depository (CSD), providing secure and efficient clearing, settlement and custodian services for securities. CMU OmniClear’s vision is to continuously enhance CMU service coverage, expand connectivity with other markets and upgrade the CMU infrastructure to provide market participants with comprehensive and quality services.
We now invite eligible candidates to join our dynamic and inclusive company for the exciting opportunity below:
Associate Director (Product Development)
Key Responsibilities
- Support the execution of the global custody product strategy, including input into service model enhancements, platform development initiatives, and go-to-market positioning
- Contribute to the design and documentation of the operating model for custody services, covering process flows, functional responsibilities, system ennoblements and service locations, to support scalable, compliant and client-focused service delivery
- Assist in the development and refinement of the commercial and business model, including pricing structure, service tiers, and revenue sustainability
- Collaborate with Operations, IT, and Risk teams to build scalable, efficient custody workflows covering settlement, safekeeping, and asset servicing
- Lead custody product development initiatives, from requirement gathering and user story development to UAT and rollout planning
- Engage with clients, sub-custodians, and internal stakeholders to validate needs, co-develop features, and ensure service differentiation
- Monitor global market infrastructure and regulatory changes and assess product and operational impact
Requirements
- University degree preferably in finance, business administration, or related fields
- At least 8 years of relevant experience in global custody, securities services, with demonstrated expertise across custody operations and/or product development
- Proven track record in designing custody services, including workflow definition, platform enhancement, and operating model development
- Strong understanding of settlement cycles, safekeeping, corporate actions, income processing, and reconciliations, both from operational and system perspectives
- Experience working with custody technology platforms and industry standards such as SWIFT, ISO 20022
- Familiarity with market practices and regulatory frameworks across key global and regional markets
- Ability to translate client and business needs into product requirements, operating models, and service blueprints
- Strong project management capability: experience leading product initiatives from design through implementation (e.g. UAT, documentation, rollout planning)
- Excellent communication and stakeholder management skills — able to work across functions, including operations, IT and compliance, and engage clients, vendors, and sub-custodians
- Strategic thinker with a practical mindset: comfortable balancing long-term vision with executional detail
- Candidates with supplementary experience and qualifications will also be considered, even if they do not meet all of the specified requirements above
Conditions of service
- Appointment will be offered by CMU OmniClear
- A competitive remuneration package will be offered. There is flexibility to take account of additional experience and qualifications
- Fringe benefits include medical and dental benefits and paid annual leave
How to apply
You may submit an application via one of the following channels:
- Online application
*Online application will be temporarily suspended from 9 August 2025 20:00 to 10 August 2025 08:00 due to system maintenance
- By Mail
Send in the hard copy application form (available either at the HKMA’s reception counter or website https://www.hkma.gov.hk) to:
Recruitment Officer
Hong Kong Monetary Authority
55/F., Two International Finance Centre
8 Finance Street, Central, Hong Kong
Copies of transcripts together with a full résumé including details of past experience should be attached to the application. Please mark your correspondence address and the position applied for on the envelope.
Completed application should reach the HKMA, via the designated submission channel, by 16 August 2025. Applicants may wish to submit their applications in advance of the deadline to allow for any unexpected delays, e.g. with internet traffic, including file size restrictions and system maintenance downtime. Those not contacted by the CMU OmniClear within three months from the closing date for applications should consider their applications filed for future reference.
CMU OmniClear is an equal opportunities employer and welcomes application from all qualified candidates. All information provided will be handled strictly in accordance with our personal data policy, a copy of which will be provided upon request. You may contact the Recruitment Officer at the above address.
The Online Application System is scheduled to perform regular system maintenance from Hong Kong time 6:00 a.m. to 8:00 a.m. every Wednesday. During this time, online application will not be available.
Learn more about the business of CMU OmniClear: www.CMUOmniClear.com.
