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 (Network Management)
Key Responsibilities
- Negotiate and complete the documentation required for the establishment of relationships with sub-custodians, central securities depositories, other Financial Market Infrastructures (FMIs), other local markets entities, and correspondent banks (collectively, the “External Parties”), and for the opening of accounts and on-going maintenance and oversight/renewal of that documentation
- Conduct due diligence on appointed External Parties in line with CMU OmniClear established frameworks
- Manage relationships with External Parties, across multiple markets, ensuring service quality, operational effectiveness, and adherence to contractual terms
- Negotiate service agreements and fee schedules with the External Parties and other service providers
- Establish necessary infrastructure to support CMU OmniClear’s international custody business
- Serve as the CMU OmniClear escalation point for all activities, including settlement failures, safekeeping discrepancies, or market disruptions, related to our external partners and service providers
- Establish and maintain close relationships with all key internal partners associated with global custody (i.e., Operations, Product, Client servicing, Project Management, Risk Management, etc.)
- Coordinate with and support internal functions to establish and maintain corporate risk framework, to address market changes, operational issues, or process improvements, to assist on establishing new products and offering new markets, and to respond internal and external client queries regarding CMU OmniClear capabilities and local market practice to assigned markets
- Maintain up-to-date market intelligence on clearing, settlement, and custody practices, including regulatory developments and industry standards (e.g. Principles for Financial Market Infrastructures)
- Monitor and assess operational risk exposures, ensuring prompt remediation in line with corporate risk frameworks and FMI-related regulations and standards
- Prepare regular reporting for senior management on providers performance, market developments, and operational resilience
- Provide market overview presentations to internal and external clients as requested
- Perform vendor relationship management and service-level negotiations
- Take part in Request for Information (RFI) and Request for Proposal (RFP) exercises to identify and assess the ability of sub-custodians to support CMUOC's business needs
Requirements
- University degree in finance, economics, business administration, or a related field
- At least 5 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
- 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
- Ability to travel
- 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 Senior Associate 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 13 December 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.
