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Chair of the Central Counterparty (CCP) Supervisory Committee
Paris, 5 years, with possibility of one extension, Application deadline 6 January 2020

Main tasks and responsibilities

• Prepare draft decisions to be taken by the Board of Supervisors in relation to TC-CCPs, including the recognition of all TC CCPs, the supervision of systemically important TC CCPs (Tier 2 CCPs) and potentially the recommendation that a TC-CCP should not be recognised where that CCP or some of its clearing services are of substantial systemic importance. As envisaged in EMIR, such decisions and recommendations will be exercised in consultation or in agreement with the relevant central banks of issue and, where applicable, the European Systemic Risk Board (ESRB);
• Promote supervisory convergence among national competent authorities in relation to the authorisation and the supervision of EU CCPs through (i) conducting annual peer reviews, (ii) initiating EU-wide CCP stress testing exercises, (iii) preparing draft opinions on draft decisions submitted by national competent authorities in relation to EU-CCPs and (iv) promoting exchanges of information on relevant developments related to EU-CCPs; and
• Request the Board of Supervisors to consider whether the adoption of guidelines, recommendations and opinions by ESMA is necessary in order to address a lack of convergence and coherence in the application of EU law among competent authorities and colleges.

The Chair of the CCP Supervisory Committee

ESMA is organising a selection procedure for the post of "Chair of the CCP Supervisory Committee and Director for CCPs".

The Chair of the CCP Supervisory Committee is a full-time independent professional, member of ESMA staff, based in Paris (France). The Chair's term of office is five years and may be extended once for another 5 years.

The Chair is appointed by the ESMA Board of Supervisors after approval by the European Parliament. She/he is accountable to the European Parliament and the Council of the European Union. The Chair may be removed from office only by the Council of the European Union, upon a proposal by the Commission which has been approved by the European Parliament.

The Chair of the CCP Supervisory Committee will manage the staff dedicated to the CCP Supervisory Committee and will work closely with the ESMA Chair and Executive Director.

Main duties

The Chair of the CCP Supervisory Committee will lead ESMA's activities in line with ESMA's work programme in relation to (i) the recognition and supervision of TC-CCPs and (ii) promotion of supervisory convergence between national competent authorities in relation to EU-CCPs. In particular, the selected candidate will among others:

• Chair the CCP Supervisory Committee and ensure ESMA fulfils its tasks and responsibilities related to the work of the Committee;
• Develop the strategy of ESMA in relation to CCPs and ensure the timely submission of draft decisions concerning TC CCPs and draft opinions on draft decisions of national competent authorities in relation to EU-CCPs, to be taken by the Board of Supervisors;
• Chair ESMA's third-country CCP college and represent ESMA in CCP supervisory colleges established under article 18 of EMIR;
• Participate in meetings with EU and third country authorities related to the activities of the CCP Supervisory Committee, in agreement with the ESMA Chair; and
• Contribute to the development of ESMA's work programme, objectives and priorities and ensure their implementation with respect to CCP matters in agreement with ESMA's Executive Director.

In addition, in her/his capacity as Director for CCPs, the successful candidate will in particular:

• Lead the ESMA staff dedicated to the CCP Supervisory Committee and coordinate the work of the two Directors for CCPs; and
• Manage the relationship with national competent authorities, central banks of issue and relevant national and EU bodies both public and private, that are relevant for CCP supervision and supervisory convergence.

The Chair of the CCP Supervisory Committee shall exercise his/her tasks in close cooperation with the ESMA Chair and the Executive Director and with due regard to their tasks as enshrined in the ESMA Regulation.

Professional qualifications and other requirements

To be considered eligible, candidates must satisfy all the eligibility criteria listed below, by the deadline for submitting applications:

• have at least a level of education which corresponds to completed university studies of four years attested by a diploma, and after having obtained the diploma, fifteen years of proven professional experience;

     OR

• have at least a level of education which corresponds to completed university studies of three years attested by a diploma, and after obtained the diploma, sixteen years of proven professional experience;
• be a national of a Member State of the European Union or the EEA (Norway, Liechtenstein, Iceland);
• enjoy full rights as a citizen;
• have fulfilled any obligations imposed by the applicable laws concerning military service;
• have a thorough knowledge of one of the languages of the European Union and a satisfactory knowledge of another language of the European Union; and
• be physically fit to perform the duties linked to the post;
• be able to complete the full five-year-mandate before reaching retirement age.

Independence and declaration of interests

The Chair of the Supervisory Committee will be required to make a declaration of commitment to act independently in the public interest and to make a declaration in respects to any interests which might be considered prejudicial to her/his independence. Applicants must confirm their willingness to do so in their application. When appointed, the Chair will be subject to the Staff Regulations and the Conditions of Employment of Other Servants, more specifically its Title II and the Ethics Guide for ESMA Staff.

Selection criteria

Applications which fulfil the above Eligibility criteria will be assessed against the Essential requirements. Candidates who do not meet all the Essential requirements will be excluded from the selection process.

Candidates who meet all the Essential requirements will be scored against the Advantageous requirements. Within this comparative evaluation of applications, up to the 6 best candidates, who obtain the highest scores will be invited for interviews.

Essential requirements

a) Out of fifteen years of experience (required for being eligible), at least five years must have been acquired at high level in the domain of post-trading or financial services (whether in the public or private sector);
b) Significant experience in a senior management position for at least 5 years;
c) Excellent written and oral English.

Advantageous requirements

d) Thorough knowledge of the EU framework for the supervision/oversight and regulation of clearing, post-trading, prudential supervision or financial services, and proven expertise in these areas;
e) Thorough experience relevant to risk-based CCP supervision, at national, EU or international level;
f) Successful experience in an executive role, leading an organisation with ambitious objectives including proven ability to lead and motivate large teams with significant tasks and steering them to achieve the organisation's objectives;
g) Thorough understanding of the EU institutions and EU decision-making process;
h) Excellent networking abilities and interpersonal skills, including the capacity to represent an organisation at international level and to negotiate with high-level representatives of various stakeholders;
i) Proven work experience in a multicultural environment;
j) Strong sense of responsibility, initiative and self-motivation; and
k) Being a strong team player.

Supplementary requirements

l) Excellent communication and presentation skills with the ability to communicate clearly and present complex subjects simply, both orally and in writing, whether in public or in meetings with internal or external stakeholders;
m) Proven ability to steer discussions and generate the best possible decisions at strategic and political level without compromising productive working relationships with the other parties involved.

Summary of conditions of employment

• Successful external candidates may be offered an employment contract for five years as a temporary agent with one possible extension;
• Successful external candidates will be recruited in the grade and classified either in step 1 or 2.

Grade/step Minimum requirements for classification in step Monthly net Monthly net (required level of university studies + minimum salary without salary, including number of years of experience after university allowances some specific graduation) allowances.

AD16 step 1 4 years' university degree + 15 years' experience 13,500 € 18,880 €
AD16 step 2 4 years' university degree + 21 years' experience 13,965 € 19,520 €

For the details of the financial conditions, pension and Sickness insurance please check the original vacancy notice on ESMA`s website.

About ESMA - The Authority

ESMA is an independent Paris-based EU Authority. ESMA's mission is to enhance investors' protection and promote stable and orderly financial markets. This mission is derived from ESMA's founding Regulation and encompasses three objectives:

• Investors' protection: to have the needs of financial consumers better served and to reinforce their rights as investors while acknowledging their responsibilities;
• Orderly markets: to promote the integrity, transparency, efficiency, and well-functioning of financial markets and robust market infrastructures; and
• Financial stability: to strengthen the financial system in order to be capable of withstanding shocks and the unravelling of financial imbalances while fostering economic growth.

ESMA achieves these objectives through four activities: (i) assessing risks to investors, markets and financial stability, (ii) completing a single rulebook for EU financial markets; (iii) promoting supervisory convergence; and (iv) directly supervising specific financial entities.

ESMA achieves its mission within the European System of Financial Supervision (ESFS) through active co-operation with National Competent Authorities (with securities market regulators) as well as with the European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA). ESMA has a unique position within the ESFS as it exercises direct supervisory responsibilities at Union level on specific entities such as credit rating agencies, trade repositories and systemically important third country CCPs.

The CCP Supervisory Committee

The review of the European Markets Infrastructure Regulation (EMIR, Regulation EU (No) 648/2012) foresee an enhanced the role of ESMA in relation to the authorisation of CCPs established in the Union (EU-CCPs) and the recognition of third-country CCPs (TC-CCPs) and provided ESMA with direct supervisory responsibilities over systemically important TC CCPs. In this regard, EMIR envisages the establishment of a distinct committee within ESMA, the CCP Supervisory Committee for the purposes of preparing draft decisions to be taken by the Board of Supervisors, ESMA's decision-making body, and for carrying out certain tasks.

The CCP Supervisory Committee is composed of a Chair, two Independent Members and representatives of the national competent authorities with an authorised CCP as voting members, as well as central banks of issue that have requested membership to the Committee as non-voting members.

How to apply

Please find the full official vacancy notice via https://www.esma.europa.eu/sites/default/files/library/vac18_-_chair_of_ccp_sc_-_ad16_en.pdf.

All sections of the application must be completed in English. In order to be considered, applications must be by 23:59:59 CET on the closing date. Applications must be sent via the 'Apply' button. We advise candidates to submit their applications well ahead of the deadline, in order to avoid potential problems.

Disclaimer

This is an extract for information only of the official vacancy notice published on ESMA`s website. In case of inconsistency between the text of this extract and the official vacancy notice the latter shall prevail.

Agency calls not appreciated.

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