Job Summary:
The position is primarily responsible for taking the lead in strict implementation and enforcement of the disclosure rules and policies, and maintaining the integrity of the Exchange at all times, reviewing and recommending revisions, whenever necessary, on the existing disclosure rules for listed companies; ensuring that they meet the challenging needs of the market and reflect international best practices, reviewing and recommending revisions, whenever necessary, on the attainment of the department's annual business plans and budget, maintaining or enhancing professional relationships with representatives of listed companies to encourage prompt and full compliance with PSE rules.
Job Description:
I. Unstructured and Structured Corporate Disclosures
- Ensures that corporate disclosures submitted by listed companies are in compliance with the requirements of the Disclosure Rules.
- Monitors submissions, reviews, and approves corporate disclosures submitted by listed companies for dissemination via uploading in the PSE website; recommends trading halts and/or trading suspensions, if applicable.
- Reviews circulars and announcements regarding listed companies.
- Reviews and approves correspondences to listed companies such as requests for clarification and/or additional information pursuant to applicable disclosure requirements.
- Reviews show-cause letters to listed companies regarding possible violations of Disclosure Rules.
- Oversees the whole process of investigation of non-compliance with disclosure rules and regulations; review and finalizes recommendations of imposition of appropriate sanctions.
- Reviews correspondences to listed companies regarding resolutions on cases of non-compliance to be endorsed to the Division Head for approval.
- Reviews appeals and/or requests for reconsideration filed by listed companies on violations of the Disclosure Rules, endorses appeals to the Office of the President.
- Reviews and finalizes recommended actions.
- Presents and discusses with the IRD Head results of analyses/evaluation of cases of non-compliance, including the Department's recommendation.
- Monitors Sponsor's/REIT's Reinvestment Plan.
- Approves clearances of listed companies to be issued to the Listings Department relative to additional listing applications.
- Ensures that all inquiries and requests for information regarding disclosure procedures are attended to.
II. Policies and Rules
- Responsible for drafting new provisions and/or revisions to the disclosure rules, and ensures its consistency with the rules and regulations of the Securities and Exchange Commission and other relevant government agencies, and to reflect international best practices.
- Recommends policies relevant to disclosure matters and rule revisions.
- Represents the Department in all official meetings that may involve clarification of the Disclosure policies of the Exchange.
- Enforces strict implementation of Company Rules and Regulations.
III. Administrative and Operational Disclosure Matters
- Notifies the Securities and Exchange Commission on the implementation of market actions and imposition of penalties for violations of the Disclosure Rules and Monthly Reports on cases handled by the Department as well as market actions imposed.
- Monitors and approves adjustments in issued and outstanding shares and market price due to stock dividends, rights offering, change in par value, re-classification/de-classification of shares; reviews and approves Database Forms for corporate actions with corresponding changes in the system.
- Approves clearance of listed companies to be issued to the Listings Department relative to additional listing applications.
- Processes requests for issuance of certificate of good standing for listed companies.
- Represents the Department in all Exchange meetings regarding disclosure matters.
IV. Leadership Management
- Recommends plans, programs, budget and performance targets of the department
- Plans, directs and coordinates all activities in the department to reach maximum level of employee productivity throughout the workforce
- Provides upfront leadership in supervising all direct and indirect reports and planning for their career advancement and aspirations
- Supervises and evaluates the performance of all direct reports.
- Approves/schedules all types of leaves of all direct reports.
- Perform other duties that may be assigned by the immediate superior from time to time.
Qualifications:
- Education: Bachelor's Degree in Law, Banking and Finance, Economics, Accounting or any Management-related degree; preferably with a Master's Degree.
- Experience: Five (5) to Eight (8) years of experience either in stock brokerage operations, investment banking or auditing/compliance functions, in an executive function or managerial capacity but not required; More than two (2) years of managerial work experience.
- Willing to work on-site (BGC, Taguig City).
