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 CMU OmniClear Holdings Limited, which is jointly owned by the Exchange Fund (as the majority shareholder) and Hong Kong Exchanges and Clearing Limited (as the minority shareholder). 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:
Director (Network Management)
Key Responsibilities
- Translate Network Management strategy into executable plans, policies, and priorities across assigned markets and external parties
- Own senior relationship management with key sub-custodians, FMIs, CSDs, ICSDs, and correspondent banks, ensuring service quality, strategic alignment, and contractual compliance
- Lead negotiations on service agreements, fee schedules, service levels, and material contractual amendments, within delegated authority
- Oversee due diligence, onboarding, and ongoing reviews of external parties, ensuring consistent application of CMU OmniClear frameworks and timely remediation of findings
- Act as the primary escalation point for any significant operational incidents, settlement failures, or market disruptions involving external parties, coordinating resolution across internal teams
- Drive market readiness and change initiatives, including new market openings, operating model enhancements, and support for new products
- Ensure effective risk identification and mitigation related to external networks, including operational, legal, and systemic risks
- Provide regular management reporting and insights to the Head of Network Management on provider performance, risk exposures, and market developments
- Represent Network Management in internal forums, cross-functional initiatives, and client or partner discussions as delegated
- Sponsor and oversee RFQ/RFP exercises and vendor selection processes for assigned markets or services
- Perform due diligence and periodic reviews of external parties in line with established frameworks, documentation findings and tracking remediation actions
- Manage day-to-day relationships with assigned external parties, monitoring service levels, operational performance, and issue resolution
- Monitor market practices and regulatory developments, escalating relevant impacts to internal stakeholders
- Coordinate with internal stakeholders (operations, product, risk, legal, technology, client servicing, etc.) to support market operations, changes, and client needs
Requirements
- University degree in finance, economics, business administration, or a related field
- At least 8 years of relevant experience in a well-established financial organisation or a leading financial institution
- Familiarity with services associated with International Central Securities Depositories (ICSDs), Central Securities Depositories (CSDs), sub-custody, and cash correspondent banking
- Strong working knowledge of securities settlement cycles, custody processes, FX, and cross-border transactions for global markets
- Strong understanding of Principles for Financial Market Infrastructures (PFMI)
- Strong organisational and presentation skills, and strong verbal and written communication skills
- Experience in interacting with senior management and cross-functional, regional teams and business partners
- Candidates with supplementary experience and qualifications will also be considered, even if they do not meet all of the specified requirements above
(Candidates with less experience may be considered for an offer of appointment at Associate Director level.)
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
- 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 28 March 2026. 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.
