Overview of the Global Financial Markets Association
The Global Financial Markets Association (GFMA) represents the common interests of the world's leading financial and capital market participants, and speaks for the industry on the most important global market issues. GFMA's mission is to provide a forum for global systemically
important banks to develop policies and strategies on issues of global concern within the regulatory environment.
GFMA brings together three of the world's leading financial trade associations to address the increasingly important global regulatory agenda and to promote coordinated advocacy efforts. The Association for Financial Markets in Europe (AFME) in London and Brussels, the Asia
Securities Industry & Financial Markets Association (ASIFMA) in Hong Kong and the Securities Industry and Financial Markets Association (SIFMA) in New York and Washington are, respectively, the European, Asian and North American members of GFMA.
Since 2009, GFMA has been in action on a wide range of fronts: advocating for appropriate capital and liquidity standards; seeking to mitigate the extra-territorial effects of regulations; helping to establish a framework for cross-border resolution of distressed firms; promoting best
practices for financial benchmarks; and developing the first system of Legal Entity Identifiers for market participants. In all these diverse areas, our actions have been informed by three key principles:
- Coordination and Consistency: in a business where activities and institutions are global but the detail of regulation is regional or national, it is vital that decision-makers strive to maintain a level playing field and minimize distortions and incentives to regulatory arbitrage.
- Transparency: which begets the confidence on which markets are founded – for example, clear and transparent governance in the operation of financial benchmarks.
- Efficient Markets: the free flow of capital enables investment and economic growth; barriers to its movement generally create impediments to both. In making the system safer, we believe regulators need to be constantly alert to barriers that could arise as unintended consequences of their program.
GFMA and its affiliate organizations aim to promote our points of view on legislation, regulation, and global standards – and more importantly, on the vital role of the capital markets in funding economic growth and job creation.
When a specific issue clearly represents a common interest that transcends regional perspectives, GFMA coordinates on-the-ground advocacy efforts with its regional members. GFMA operates with a unique model—leveraging the deep policy, technical, and market expertise of its 3
member organizations in six cities worldwide.
The Executive Director reports to the GFMA CEO and will also have a dotted line reporting relationship with the GFMA Board of Directors and the regional association CEOs. The Executive Director is responsible for the day to day management of the Association, including all policy initiatives,
advocacy and communications efforts, and all internal and external strategic and operational matters. To be successful in this role the Executive Director must have a clear understanding of the issues confronting the industry globally and be able to address these issues in accordance with the direction of the
Board and the support of the regional member associations.
Reports to: In addition to reporting directly to the GFMA CEO, the Executive Director will also closely support the GFMA Chair and Vice-Chair.
Manages: (Direct) Approximately 1-3 staff members; (Indirect/dotted line) workstreams utilizing appropriate staff from AFME, ASIFMA, and SIFMA; External consulting relationships, as relevant.
Other Key Relationships: GFMA Board of Directors (comprised of senior leaders of the global financial services industry); CEOs and management teams of regional associations (AFME, ASIFMA, SIFMA); external constituents: global and national level regulatory bodies including BCBS, FSB and IOSCO, media,
consultants, other trade associations, etc.
- GFMA Project Management
- Work with the Board of Directors and members, identify the priority issues and develop and implement detailed positions and project plans to drive the overall agenda of the association and any public outreach campaigns (through members, legislators,
regulators, the media, etc.)
- Oversee all administrative, financial, and program operations in support of GFMA’s agenda with support from the relevant staff of the 3 regional associations
- Board of Directors
- Oversee the association’s relationship with Board members, including content development for Board meetings, communications to the Board, and follow up from Board meetings
- Manage recruitment and retention of Board Members together with regional association CEOs
- Management of Key Global
Policy Initiatives on Behalf of GFMA
- Run global committees and working groups consisting of representatives from member firms to support priority projects on GFMA’s agenda
- Engage in targeted advocacy and outreach campaigns on priority policy issues as appropriate
- Serve as chief liaison and ensure cooperation with constituent and partner trade associations
- Represent GFMA in public fora including with: regulators and global standard setters, members, board members, and media
- Internal Collaboration
- Foster internal collaboration among regional association staff
- Support CEOs and senior management teams at AFME, ASIFMA, and SIFMA in their efforts to collaborate on high priority global policy initiatives on behalf of the industry
- Minimum of 10 years relevant experience required
- Previous experience in financial services and/or international financial regulatory arena preferred
- Strong knowledge of global financial regulatory policy
- Outstanding ability to drive a broad agenda and solve problems with the ability to exercise sound and balanced judgment and keen attention to detail
- Ability to coordinate issues, projects and practices with colleagues and constituents across multiple international regions and divisions
- Exceptional ability to communicate effectively (both oral and written) and drive consensus, with high degree of comfort communicating with regulators, senior level executives across the financial services industry, and internal senior management in multiple
- Excellent team player - one who is able to prioritize in a fast moving, high pressure, constantly changing environment
- Strong leadership and influencing skills with proven track record and the ability to drive the overall agenda of the Association in a consensual manner
- Proven to have impeccable integrity and a strong work ethic
- Excellent interpersonal skills and ability to work across cultures
- Willingness to travel internationally
- Additional relevant languages a benefit