Description Senior Director - Benchmark Services Position Overview
The Senior Director of Benchmark Services will initially report directly to the Benchmark Administrator of CME Group Benchmark Administration serving as a strong number two, while beginning to take on responsibilities to assume the role of Benchmark Administrator.
They will be responsible for all facets of the development and execution of the long-term strategy for CME Group Benchmark Administration including evolving the current portfolio of indices and benchmarks, and building new, diversified revenue streams related to the development of new benchmark products. They should be recognized as a thought-leader within the industry with exceptional strategic and analytical acumen in solving business, product and technical challenges through innovative product design. Further, they will have deep knowledge of the benchmark and index landscape - including regulation associated with benchmark administration (such as BMR) and financial data as it pertains to various jurisdictions. Further, the candidate will have a solid understanding of long-term interest rate products and the U.S. Treasury market.
This role is responsible for the CME Term SOFR Reference Rates. As such the role requires deep subject matter expertise in lending practices and a thorough understanding of the market dynamics involved in the industry's transition from LIBOR to alternative reference rates. A key focus will involve proactive education to and engagement with the industry on the value of the Alternative Reference Rate Committee's endorsed CME Term SOFR benchmark as it migrates away from using LIBOR as well as with respect to CME Group's data/benchmark licenses and policies. Principal Accountabilities
- Leadership of the development of new benchmarks from design to back-testing and implementation. Including the sourcing of data, quantitative analysis, calculation methodologies, technology, and monitoring and surveillance.
- Understand the evolving regulatory landscape to consider impact on CME Benchmark inventory and ensure continued viability and compliance with regulation.
- Generate new business and manage the existing customer pipeline while developing valuable customer relationships.
- Build and maintain relationships at the highest decision-making levels within CME, strategic clients, and commercial partners to identify and reconcile strategic imperatives against commercial opportunities which are successfully negotiated and closed.
- Engage with clients, regulators, and industry bodies and lead customer education in the CME Term SOFR value proposition and the LIBOR transition.
- Create thought leadership content, including external presentations, blogposts and white papers, which explain the benefits of and value proposition of CME's indices and benchmarks.
- Present to Governance Committees, Boards and senior leadership teams as the subject matter expert on indices and benchmarks.
- Build strategic product partnerships designed to enhance benchmark offerings and distribution capabilities.
- An active leadership role in index operations and controls of CME Groups Benchmarks.
- 10+ years of quantitative and relevant experience in index and benchmark services or structured products
- Thorough understanding of benchmark regulation and the IOSCO Principles.
- Well-developed networking and relationship building skills, complemented by negotiating acumen and sound business judgment.
- Proven track-record in building and executing commercial strategies leading to new revenue generation.
- Strong background in leading global or international teams/functions to meet and exceed business objectives.
- Comprehensive understanding of industry issues, client trends, and technological disruption to advise on the future direction of CME Group's Benchmark strategies.
- A strong relationship builder who is clear in articulating the values, expectations and polices of CME Group is essential to the function.
- The candidate will be required to regularly interact with external customers and service providers up to and including C-level.
- Bachelor's Degree (or equivalent) with advanced degree in mathematics, statistics preferred.
CME Group: Where Futures Are Made
CME Group (www.cmegroup.com) is the world's leading derivatives marketplace. But who we are goes deeper than that. Here, you can impact markets worldwide. Transform industries. And build a career shaping tomorrow. We invest in your success and you own it, all while working alongside a team of leading experts who inspire you in ways big and small. Joining our company gives you the opportunity to make a difference in global financial markets every day, whether you work on our industry-leading technology and risk management services, our benchmark products or in a corporate services area that helps us serve our customers better. With 3,500 employees located around the world, we're small enough for you and your contributions to be known. But big enough for your ideas to make an impact. The pace is dynamic, the work is unlike any other firm in the business, and the possibilities are endless. Problem solvers, difference makers, trailblazers. Those are our people. And we're looking for more.