A European derivatives clearing house wanted to add an independent director to its board with a focus on cybersecurity and information security. They hired a recruiting firm to find a candidate with both commercial experience and technical expertise in cybersecurity to help navigate the changing security landscape. The recruiting firm identified over 100 candidates and shortlisted 5 that met the criteria of experience in derivatives trading, exchange operations, commercial management, and cybersecurity. This broad shortlist allowed the client to determine their unified needs for the role during interviews. They ultimately agreed on a candidate after a 3-week selection process, completing the 7-week recruitment.

1. SITUATION: Our client had been operating a clearing house in the European region for 4
years and had a well-established and effective board of Directors covering each
of the core functions and fulfilling regulatory requirements. Both the Board
and the Senior Management team felt that they needed to add additional
expertise around Cyber and Information security and decided to achieve this by
adding a new post to the existing board. This new INED post would bring both
commercial and technical expertise and help the clearing house navigate the
ever changing security landscape.
HIRING AN INED WITH A
CYBER SECURITY FOCUS
THE CLIENT: European Derivatives Clearing House
THE ROLE: Independent Non-Executive Director - Risk Committee
LOCATIONS: London
OUR SUCCESS: Shortlist Presented in 4 Weeks
0 Candidates Identified
20 Candidates Targeted
6
Candidates
Shortlisted
owing how many candidates were
stages of the recruitment process
Illustration showing how many candidates were
considered at stages of the recruitment process
127 Candidates Identified
35 Candidates Targeted
13 Candidates
Shortlisted
7 Candidates
Interviewed
Illustration showing how many candidates were
considered at stages of the recruitment process
105 Candidates Identified
20 Candidates Targeted
6 Candidates
Shortlisted
Illustra
consid
owing how many candidates
tified and then shortlisted
andidates Identified
5 Candidates
Shortlisted
Derivatives
Trading
Clearing
Operations
TECHNICALPROFILE
Cyber Security
CANDIDATE 1 CANDIDATE 2 CANDIDATE 3
Cyber Security
CANDIDATE 4 CANDIDATE 5
Illustration showing the balance of skills for shortlisted candidates
Commercial
Management
Commercial
Management
Derivatives
Trading
Clearing
Operations
Cyber Security
Commercial
Management
Derivatives
Trading
Clearing
Operations
Cyber Security
Commercial
Management
Derivatives
Trading
Clearing
Operations
Cyber Security
Derivatives
Trading
Clearing
Operations
R E C R U I T I N G W I T H I N T E G R I T Y

2. 80 Candidates Identified
20 Candidates Targeted
6
Candidates
Shortlisted
Illustration showing how many candidates were
considered at stages of the recruitment process
Illustration showing how many candidates were
considered at stages of the recruitment process
127 Candidates Identified
35 Candidates Targeted
13 Candidates
Shortlisted
7 Candidates
Interviewed
Illustration showing how many candida
considered at stages of the recruitment
105 Candidates Identified
20 Candidates Targeted
6 Candidates
Shortlisted
Illustration showing how many candidates
were identified and then shortlisted
45 Candidates Identified
5 Candidates
Shortlisted
Derivatives
Trading
Clearing
Operations
TECHNICALPROFILE
Cyber Security
Commercial
Management
Commercial
Management
Derivatives
Trading
Clearing
Operations
Cyber Security
Commercial
Management
Derivatives
Trading
Clearing
Operations
Commercial
Management
Derivatives
Trading
Clearing
Operations
Cyber Security
Derivatives
Trading
Clearing
Operations
REQUIREMENT: The Independent Non-Executive Director is expected to provide independent and
effective leadership to the Risk Committee, helping it fulfil all of its duties. It will
provide advice and counsel on matters relating to the work of the committee to
the external and internal advisers, the CEO, CRO & Company Secretary, Head
of Finance and other members of the Senior Management. It will attend all
Board meetings and report on matters, and answer questions raised within the
Committeeís area of responsibility. In addition it will bring independent expertise
on all matters relating to Cyber Security and provide expertise from external
experiences.
CHALLENGES: As this role was a new addition to the Board, we had to ensure that both the
current Board and the Management Team agreed on the ultimate purpose for
recruiting such a post and maintain a consistent expectation across each of the
stakeholders. As the search progressed, the ultimate owner and sponsor of the
search changed from the CEO to the COO and eventually to the Chairman of the
Board and with it the focus of the requirement changed. Initially we found that
part of the management team favoured commercial expertise over operational
experience, whilst the board and the operating committee focused on the
Cyber Security agenda. As a recruitment team we worked to maintain a balance
between both parties and presented a longlist that pulled both requirements
together.
THE SOLUTION: From a long list of 45 candidates we presented a five person shortlist. All five had
experience of Derivatives Trading, Exchange and Clearing Operations, Commercial
Management and Cyber Security and had experience of acting as a Non-Executive
Director. However, each had a slightly different balance to these skills and so solved
the need in a different way.
THE OUTCOME: Because of the broad spread of profiles presented at shortlist, we were able to use the
selection process to help the client develop a unified and clear picture of what was
needed. During this process, all candidates were made aware of the differing views
of the selection committee and were invited to discuss and address them within the
interview structure. The openness from both sides to do this provided a clean and
transparent process, where all parties felt their views and opinions were appreciated.
THE PLACEMENT: Both the Board and the management team
unanimously agreed on the final candidate
after an internal selection process which lasted
3 weeks. The research and approach phase
lasted 4 weeks, thus the entire process took 7
weeks from start to finish.
R E C R U I T I N G W I T H I N T E G R I T Y