ETF Operations Director

Ninety One; Cape Town; On-site; ZAR 1,200,000 - 1,800,000; Full time

Job summary

Ninety One in Cape Town seeks an ETF Operations leader to own end-to-end activity for our ETF range, from listing through to ongoing servicing, liaising with stakeholders across the business. You will design, build and embed the operating model, establish robust controls, and lead expansion as volumes grow.

This is a rare opportunity to shape the function from ground up with a contractor supporting you. Ideal candidates will have CA(SA) or equivalent, substantial ETF/CIS operations experience,

Qualifications

• CA(SA) or equivalent qualification, or extensive ETF/CIS ops experience.
• Significant experience in ETF or CIS operations, including admin or cash processing.
• Experience building or scaling an operating model or team.
• Previous management experience.

Responsibilities

• Take end-to-end ownership of Ninety One's ETF range, from listing to servicing.
• Lead implementation of product development, including launches and corporate actions, and run each launch from scoping to go-live.
• Design, build and embed the operating model with controls and processes to scale.
• Prioritise automation and scalability as the range grows.
• Oversee daily production of ETF iNAV and PCF, ensuring pricing accuracy and timely publication.
• Own the cash movement process for ETF inflows, outflows and distributions.
• Review and establish a repeatable monthly AMETF rebate process.
• Lead onboarding of market maker relationships and establish related controls.
• Build and lead the ETF Operations function, including managing the Operations contractor.
• Maintain relationships with market makers, STRATE, JSE, administrators, trustees and the global custodian.
• Represent ETF Operations at governance forums and escalate risk as growth occurs.
• Collaborate with stakeholders on the commercial pipeline and readiness for future launches.

Skills

Stakeholder management

Leadership

Analytical thinking

Problem solving

Education

CA(SA) or equivalent

Job description

About us:

Ninety One is an independent, active global asset manager withR4 trillion* of assets under management.

Established in South Africa in 1991, as Investec Asset Management, the firm started offering domestic investments in an emerging market. In 2020, almost three decades of organic growth later, the firm demerged from Investec Group and became Ninety One.

Our distinctive capabilities sit within differentiated fixed income and credit as well as specialist equities, and we have a unique perspective and approach to investment opportunities presented by emerging markets and the energy transition.

*as at30 June 2026

Ninety One is an equal opportunities employer. Our imperative is to attract and retain the best talent by providing a corporate environment where people from varying backgrounds can develop professionally and build a rewarding career.

About the team:

Ninety One's ETF product offering is growing, and this role is central to how we operationalise that growth. This is a rare opportunity to take end-to-end ownership of ETF operations from the ground up - shaping the operating model and the way the business runs its ETF range for years to come, with a contractor supporting you in building it out.

In this role you will:

• Take end-to-end operational ownership of Ninety One's ETF range, from listing through to ongoing servicing, liaising closely with stakeholders across the business
• Act as the firm's principal authority on ETF operations, owning implementation of product development, including new launches, restructures and corporate actions, and leading execution of each launch from initial scoping through to go-live
• Design, build and embed the operating model underpinning the range - including the controls, processes and documentation needed to run it sustainably as the range scales
• Settle the operating model through its initial implementation, then prioritise automation and scalability as the range and associated transaction volumes grow
• Oversee daily production of the S&P iNAV and PCF, ensuring pricing accuracy and timely publication and robust escalation of any discrepancies
• Own the cash movement process related to ETF inflows, outflows and distributions, ensuring accuracy and timeliness across all cash events
• Review and process AMETF rebate calculations, and establish this as a controlled, repeatable monthly process
• Lead onboarding of market maker relationships as the range grows, including establishing the operational processes and controls needed to support each relationship
• Build out and lead the ETF Operations function, including line management of the ETF Operations contractor once transitioned into the team, and shaping the team's capability as it grows
• Own relationships with market makers, STRATE, the JSE, administrators, trustees and the global custodian, managing service delivery, SLAs and escalations
• Represent ETF Operations at governance and oversight forums, providing management information and escalating risk as the range grows in scale and complexity
• Partner with internal stakeholders on the commercial pipeline, ensuring operational readiness is built into planning for future launches rather than addressed after the fact

You should consider applying if you have:

• CA(SA) or equivalent professional qualification, or extensive hands-on ETF/CIS operational experience in place of a formal qualification
• Significant experience in ETF or CIS operations - asset or transfer agency administration, cash/rebate processing, market maker or exchange liaison
• Experience building or scaling an operating model or team, ideally in a fast-growing product range
• Previous management experience

Some of the attributes we look for in a person are:

• The ability to 'approach and own' and continuously look for opportunities to develop
• Ambition, balanced with decency and humanity
• A client-focused and collaborative approach
• Ability to analyse, interpret and assimilate information

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