Market Data Compliance Specialist

Royal Bank of Canada•Jersey City, NJ

6d•Onsite

About The Position

The global Market Data Services (MDS) team consists of three sub-groups (MDS Administration, MDS Solutions and MDS Compliance) who engage, strategize and support enterprise-wide businesses and stakeholders. This role in the MDS Compliance team is responsible for ensuring that the organization's use of real-time market data complies with vendor licensing agreements, exchange policies, and internal governance frameworks. This role focuses on risk identification and mitigation, audit readiness, policy enforcement, and controls around how market data is consumed across applications, platforms, and user populations. The role is non-technical and operates at the intersection of compliance, vendor management, and business stakeholder engagement. The specialist will communicate market data policy changes and requirements to business stakeholders. Responsibilities also include sourcing, contract managing, and optimizing real-time exchange market data for the firm, understanding market data distribution architectures and infrastructures, and participating in or leading market data audits both internally and externally driven. The specialist will partner with Market Data business and technology professionals to ensure proprietary applications have appropriate control and reporting mechanisms and that usage policies are adhered to.

Requirements

Bachelor's degree in finance, business, economics, or a related field; Or equivalent 5 years work experience in market data commercials or technology
Client Focus, strategic agility, priority setting, analytical thinking, aptitude for setting realistic expectations, integrity and trust
Strong interpersonal skills and communication skills
Ability to adapt to a changing environment
Advanced knowledge in Excel
Critical thinking with exceptional attention to detail, especially in fast-paced, high-risk environments
Industry experience required: Subject matter expertise with low latency and consolidated feed market data suppliers (E.g.: Bloomberg, Refinitiv, etc.), distribution mechanisms and control systems (DACS, EMRS)
Deep knowledge in with major exchanges (NYSE, NASDAQ, LSE, TMX, etc.) including: completing Exhibit A or other exchange/third party documentation unit of count concepts and other exchange/third party contractual and reporting terminology
Deep knowledge communicating exchange policies and addressing compliance gaps
Knowledge of exchange direct feeds and understanding of network connectivity (TCP/IP, Unicast and Multicast protocol)
Previous experience in Capital Markets an asset

Responsibilities

Provide oversight on best practices of market data access control, monthly reporting requirements and audit trail capabilities within proprietary applications
Participate in market data architecture forums and planning sessions to support projects (supplying subject matter expertise)
Work closely with Market Data Technology teams on new implementations, ensuring compliance requirements are built in from the start
Participate in exchange and supplier data use audits
Maintain and prepare third-party provided exchange exhibits/agreements, application use questionnaires and network diagrams
Communicate exchange announcement, vendor policies, and regulatory requirements for stakeholders under tight deadlines to ensure understanding of reporting obligations, policy changes, and pricing impacts.
Maintain awareness of third-party market data licensing policies (unit of count, netting, MISU, etc.)
Participate in industry working groups to lobby for consistent policies across data provider community
Analyze and maintain communication of vendor data changes impacting users and applications
Collaborate with business lines and technology partners to drive cost efficiency and optimization strategies for Real-time data while maintaining compliance integrity
Guide junior team members in developing expertise across market data compliance methodologies and regulatory frameworks for North American, European, and Asian exchanges.

Benefits

competitive compensation
flexible benefits
401(k) program with company-matching contributions
health, dental, vision, life, disability insurance
paid-time off
Leaders who support your development through coaching and managing opportunities.
Ability to make a difference and lasting impact.
Work in a dynamic, collaborative, progressive, and high-performing team.
Opportunities to do challenging work.
Opportunities to build close relationships with clients.