Job Title:  Outsourcing and Deputy Technology Supervisory Officer, Instinet Germany GmbH (IGG)

Job Title:                     IGG Outsourcing and Deputy Technology Supervisory Officer

Corporate Title:          Associate

Department:                General Management Office, Instinet Germany GmbH (IGG)

Location:                     Frankfurt, Germany

ABOUT INSTINET

As the agency-model execution services arm of the Nomura Group, Instinet Incorporated subsidiaries provide brokerage services to clients in over 65 markets around the world. Through its advanced suite of electronic trading strategies, experienced high-touch trading group, top-ranked Commission Management services, award-winning desktop trading platform, and unparalleled access to insightful analytics, content and unique liquidity, Instinet helps institutions lower overall trading costs and ultimately improve investment performance. In the US, Instinet also offers a boutique-model Equity Research offering to assist their clients in the pursuit of alpha generation in a changing landscape. Over the course of its 50+ year history, Instinet has introduced a range of now industry-standard trading technologies, and has been an innovator at the forefront of the market's evolution. For more information, please visit www.instinet.com.

PURPOSE AND SUMMARY

The IGG Outsourcing Officer and Deputy Technology Supervisory Officer has a dual role directly reporting to the entity’s COO with a secondary line into the firm’s Technology Supervisory Officer.

The person is responsible for the end-to-end management, oversight and governance of all outsourced and sub-outsourced arrangements for Instinet Germany GmbH. Acting as the firm’s primary subject-matter expert for outsourcing, the role ensures that all outsourcing activities comply with applicable regulatory requirements, including MaRisk, the EBA Outsourcing Guidelines MiFID II and other relevant supervisory expectations.

The incumbent will establish, maintain and continually enhance the firm’s Outsourcing Management Framework, ensuring clear documentation, robust oversight, effective monitoring and timely reporting to senior management and relevant governance bodies. The Outsourcing Officer will support all departments in implementing and adhering to outsourcing standards, act as the central coordination point for outsourcing-related regulatory matters and contribute to a strong culture of governance and accountability across the organisation.

In addition, the position plays a key role in supporting external and internal audits related to outsourced services, ensuring efficient coordination of requests, transparent communication and effective follow-up of findings through to closure.

As Deputy Technology Supervisory Officer, the incumbent will support the TSO in providing day to day oversight of the provision of the Firm’s technology operations, which are provided to the Firm from the Group’s servicing entity, Instinet Global Services Limited in the UK.

The role covers the day to day, tactical and strategic operations to meet Instinet Germany GmbH’s (IGG) technology delivery, as well as its technology regulatory and compliance obligations including (but not limited to) as defined under DORA (reference to former BAIT) and MaRisk. The scope covers all technology operations within Instinet Germany GmbH (Paris and Frankfurt), including oversight of all outsourced technology activities as the Technology Outsourcing Supervisory Officer, and any Technology aspects in relation to the proposed MTF, BlockMatch DEU.

The role also includes responsibility of Deputy Information Security Officer for the entity, which requires provision and oversight of the Group’s information security framework including internal and external reporting obligations whilst making use of the Group Information Security function as per the service agreement with the UK servicing entity.

ESSENTIAL SKILLS, DUTIES AND RESPONSIBILITIES

Outsourcing Control Management

Instinet Germany GmbH outsources functions to Instinet Global Services Limited (IGSL), an IIL Group company established for the purposes of supporting the Instinet Group’s European trading entities. It will be the responsibility of the Outsourcing Officer, under the oversight of the Chief Operating Officer, to:

• Establishing and maintain a framework for governance and oversight of outsourced and sub-outsourced services
• Setting up effective controls and monitoring processes for service delivery, incidents, performance and contractual obligations
• Coordinating and executing Outsourcing Risk Assessments (ORAs) for new and existing outsourced functions
• Maintaining a complete Outsourcing Register, including sub-outsourcing arrangements, in line with European Banking Authority Guidelines on Outsourcing
• Providing support and guidance to Outsourcing Responsible Persons across the business
• Overseeing the Outsourcing Control Framework, ensuring compliance with policies and regulatory expectations
• Oversee and regularly assess Information Communication Technology (ICT) subcontracting chain risks as well as the concentration risks in terms of Third-Party Risk Management (TPRM) maintaining and providing related reporting towards the competent authorities (Register of Information)
• Oversee the conduction of independent TPRM Risk Management controls
• Delivering monthly and quarterly updates to the Management Board on Outsourcing events, performance and key developments
• Ensure alignment and integration of outsourcing activities into Group frameworks, standards and governance models
• Support harmonisation of outsourcing and third-party management practices across EMEA entities, ensuring consistency and regional standardisation
• Preparing an annual material outsourcing report for senior management as per MaRisk requirements

Audit Delivery & Support

The IGG Outsourcing Officer plays a central role in managing all outsourcing-related audit activity, both internal and external. Key responsibilities include:

• Coordination of audit requests across all relevant internal teams to ensure timely, complete and consistent delivery of required documentation and evidence
• Acting as the primary liaison between auditors and internal stakeholders for outsourcing topics
• Tracking of audit findings, including those from regulatory audits by supervisory authorities and Internal Audit, and other forms of regulatory reviews relating to outsourced services
• Monitoring remediation progress and ensuring actions are completed on time and in line with regulatory expectations
• Maintaining clear and auditable records of outsourcing documentation, review outputs, risk assessments, contracts and Service Level Agreements as well as oversight activities
• Preparing outsourcing-related audit and regulatory responses ensuring accuracy, clarity and alignment with IGG’s Outsourcing Framework
• Ensuring continued readiness for supervisory reviews including on-site inspections by BaFin or other authorities where outsourcing is in scope

Technology Supervisory and Information Security Task

• Together with the technology supervisory officer, the deputy is responsible to fulfill IGG’s ICT Governance, Regulatory Compliance and Control Function, including overseeing the framework and ensuring compliance with applicable regulation, especially MaRisk and DORA requirements.
• To be escalation point for local technology topics and to work with various teams in the region on resolution
• To help maintaining the ICT Risk Management Framework, oversee controls and system tests and be involved in ICT Incident Management tasks
• To specifically work on Third Party Risk Management topics related to IGG’s outsourced IT services and to ensure alignment with both ICT Risk Management Framework and DOR Framework
• Support in an effective implementation of programs to raise awareness and provision of digital operational training

Governance and continuous improvement

• support and deliver where appropriate effective governance of the business including the Risk Committee, Management Board, DORA Steering Committee and other committees where relevant;
• consolidate the cross-business feedback on Material Business Changes including the management of the post implementation review programme
• actively drive ongoing enhancements to existing frameworks and processes and testing strategies

General

• provide all other services, functions and responsibilities reasonably necessary or incidental thereto; and
• provide all other Services reasonably requested by Instinet Germany GmbH.

The IGG Outsourcing Officer and deputy TSO needs to have

• Strong experience in outsourcing oversight within a regulated financial institution based or operating in Germany (brokerage or capital markets preferred)
• Strong Operational Risk experience, ideally gained with a leading financial institution
• Experience in dealing with Technology delivery within financial services and partnering a business in the delivery of its technology goals
• Exposure to information security aspects of technology and ideally having had exposure to information security oversight
• Excellent understanding of relevant rules and regulations, i.e. MaRisk, EBA Guidelines on Outsourcing, MiFID II, DORA, IA Act etc.
• Experience designing, operating or enhancing an Outsourcing Management Framework
• Strong experience in Internal/External Audit Management, particularly in outsourced environments
• A sound understanding of the product offering of an agency broker, ideally with some equity experience
• Strong interpersonal and communication skills with the ability to communicate at all levels.
• Excellent team player with the ability to use own initiative and provide prompt and practical service to stake holders.
• Excellent report writing and analytical skills.
• Proficiency in using MS Office products (Word, Excel, PowerPoint).
• Excellent time management and prioritisation skills.

Nomura Leadership Behaviours
Explore Insights & Vision

• Identify the underlying causes of problems faced by you or your team and define a clear vision and direction for the future.

Making Strategic Decisions

• Evaluate all the options for resolving the problems and effectively prioritize actions or recommendations.

Inspire Entrepreneurship in People

• Inspire team members through effective communication of ideas and motivate them to actively enhance productivity.

Elevate Organizational Capability

• Engage proactively in professional development and enhance team productivity through the promotion of knowledge sharing.

Inclusion 

• Respect DEI, foster a culture of psychological safety in the workplace and cultivate a "Risk Culture" (Challenge, Escalate and Respect).

CULTURE & CONDUCT

Instinet is committed to conducting its business with honesty and integrity and expects its staff to maintain high standards, act within the law, applicable codes of practice, and to apply the highest possible operating/business ethics in all areas of its activities. As part of the Nomura Group, Instinet staff are required to comply with the Nomura Code of Conduct (“the Code”). The Code explains the Nomura Group’s Corporate Philosophy, it embodies our mission to contribute to society through our expertise in the services we provide to our clients and our vision to become a trusted partner.  The Code sets out guidelines for Instinet staff to translate the Nomura Group Corporate Philosophy into actions.

Instinet reflects on our actions to ensure that they are in line with the Code. We promise clients and other stakeholders that we will uphold the highest standards of ethics and integrity under the Code and we carry out all of our business activities based on the Code.  The three main areas of the Code are:

Working for Instinet means that you have a big part to play in supporting the culture and conduct for Instinet’s business, with support from your line manager and the senior management team.  You are responsible for ensuring that you are fully aware of and adhere to internal policies that relate to you, your business or other businesses for which you have any level of responsibility.  In addition:

You are responsible for managing, controlling, and escalating risks to management within the scope of your position;

You are required to act with integrity and apply due skill, care and diligence in carrying out your duties.  Your actions should always be able to satisfy high standards of consideration integrity;

You must observe proper standards of market conduct.  Responsibility to ensure that you take reasonable steps to be fully aware of, understand and comply with all regulatory requirements from all regulatory bodies that are applicable to your business;

You are required to understand and comply with Instinet’s operational policies and procedures as they apply to your role and responsibilities and ensure that Instinet always pays due regard to its customer’s interest and treats them fairly; and,

You are required to endorse and grow Instinet’s Compliance and Risk culture in order to manage and mitigate Conduct Risk.  Conduct Risk for Instinet means inappropriate behaviour which may damage Instinet, its clients, its staff or the trust and integrity of markets, or which delivers unfair outcomes for its clients and staff through direct/indirect contact/action, or omission. Conduct Risk includes the managing of conflicts of interest.