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SECURITIES AND EXCHANGE COMMISSION
VACANCY ANNOUNCEMENT – (3 POSITIONS)
The Securities and Exchange Commission (SEC) is a body corporate established under the repealed Securities Act, Cap. 354 of the Laws of Zambia and whose existence is continued under the new Securities Act, No. 41 of 2016. SEC has the objective of inter alia regulating and developing the Zambian Capital Markets and is responsible for the supervision and development of the Capital Markets in Zambia as well as the licensing of financial intermediaries, collective investment schemes and securities exchanges, the registration of securities to be issued such as debt and equity instruments, and the authorization of transactions in entities registered with SEC.
SEC now seeks to recruit qualified Zambians to fill the following positions:
1. Job Title: SURVEILLANCE OFFICER
Job Purpose: Conducting market surveillance on a broad range of capital market securities with a view to maintaining a fair, efficient and transparent market.
Grade: SEC4
Key Result Areas and Accountabilities
| Key Result Area |
Principal Accountabilities (Main Duties) |
| Regulatory Oversight |
- Monitor and regulate the activities of CMOs, ensuring compliance with regulatory requirements, laws, and industry standards. Ensure that market participants adhere to regulatory policies and standards. Review and assess compliance with trading rules and reporting requirements
|
| Market Monitoring |
- Monitoring market information from various sources including newspaper articles, blog sites, rumours, complaints etc. and using the information gathered to monitor trading in the market.
- Conduct preliminary investigation to trace the causation of unusual trading change, such as public disclosure of material information, any significant news or misstatements and make recommendations for further investigations if there are no apparent or sufficient factors to explain the case or any evidence that indicates malpractice.
- Undertake real-time surveillance of the securities exchange’s automated trading and CSD database and report any exceptional activities.
- Monitor and analyse trading activities, price movements, and order book data to detect unusual or suspicious patterns that may indicate market misconduct.
- Conduct both regular and ad hoc visits to inspect and investigate trading activities and unearth abnormal trading activities committed by market participants and report any findings promptly for action to be taken before damage is caused to shareholders.
- Daily market update at the end of trading session and preparing daily market surveillance brief report
|
| Crisis Management |
- Contribute to the Development and implementation of crisis management with regards, market operations, ensuring the stability and resilience of the market in times of economic uncertainties or market disruptions.
|
| Preliminary Investigations |
- Investigate and address any violations or non-compliance issues within capital market.
- Ensure all cases requiring in-depth investigation are referred to DELS for further investigation and possible enforcement action.
|
| Surveillance Analysis |
- Conduct in-depth analysis of trading activities, order flows, and market trends to detect market manipulation, insider trading, unusual price trends and other suspicious activities.
- Conduct offline surveillance looking at trends in the market after market has concluded active trading for any malpractices.
|
| Research and Analysis |
- Conduct in-depth data analysis to identify trends, outliers, and potential areas of concern. Prepare reports on findings for internal and external stakeholders. Conduct research on regulatory policies related to surveillance.
- Ensure adherence to regulatory policies and standards related to market surveillance.
- Contribute to the development and enhancement of surveillance protocols.
|
| Technology Utilization: |
- Implement and manage surveillance systems to generate alerts for potential market abuses. Investigate and escalate alerts for further review.
- Utilize advanced surveillance technologies and tools to enhance market monitoring capabilities. Stay informed about technological advancements in market surveillance.
|
| Resource Management |
- Agree, monitor and review of performance to ensure that performance objectives are met.
- Contribute towards budget preparation and prudent management of resources.
- Participate in training sessions and workshops to enhance knowledge of market surveillance.
- Support educational initiatives aimed at industry participants.
|
| Reports |
- Prepare periodic and ad hoc reports and submit them to the supervisor as scheduled.
- Prepare detailed reports on surveillance, risk assessments, and policy recommendations.
- Effectively communicate findings to internal and external stakeholders.
|
| Documentation and Databases |
- Maintain accurate and up-to-date documentation of surveillance activities, compliance assessments, and other relevant records.
- Update and maintain the Surveillance databases.
|
| Collaboration |
- Relationship management for the licensees and listed issuers allocated, including attendance of their respective AGMs and EGMs.
- Foster relationships with international regulatory bodies, participating in forums and initiatives to stay informed about global regulatory standards and coordinate cross-border regulatory efforts.
- Collaborate with industry stakeholders to provide guidance on regulatory matters.
- Collaborate with other regulatory bodies and external stakeholders to foster a transparent and well-functioning market.
- Keep abreast of industry trends, international best practices, and regulatory developments to enhance surveillance.
- Participate in training sessions and workshops to enhance knowledge on surveillance. Support educational initiatives aimed at industry participants.
- Contribute to the development of educational programs and workshops to enhance awareness and understanding of regulatory expectations and new developments.
|
| Other duties |
Attend to any other lawful duties assigned. |
Required competencies/Personal qualities:
- Knowledge of relevant financial frameworks.
- Demonstrated interest in market surveillance, financial markets, or securities regulation.
- Familiarity with market surveillance tools and technologies.
- Analytical and critical thinking skills.
- Ability to work in a team collaboratively and effectively.
- Commitment to ethical standards and investor protection.
- Good Communication skills- both written and oral
- Good computer skills (Word processing, spreadsheets, and internet)
- High level of integrity and confidentiality
- Knowledge of market structures, trading practices, and regulatory frameworks.
- Detail-oriented with strong organizational abilities.
1.5 Qualifications/Requirements
- Full Grade twelve (12) School Certificate with at least five (5) ‘O’ level credits including English language and Mathematics.
- Bachelor’s degree in finance, Business, IT, Engineering or equivalent from a relevant field.
- Relevant professional certifications in finance or related fields (e.g., CFA, ACCA)
Minimum relevant work experience.
Minimum two (2) years relevant work experience with the financial services, particularly capital markets and/ or banking and/or pensions and Insurance.
Risk management and working knowledge of the operations of a trading system such as the Automated Trading System is an added advantage.
