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Business Descriptor:
The AVP, Business Operations will manage day-to-day broking back-office operations across trading support, clearing & settlement, risk operations, depository (DP), reconciliations, and client service. The role is hands-on and execution-focused, ensuring timely settlements, accurate reconciliations, strong controls, and regulatory compliance with SEBI, Exchanges, Depositories, and Clearing Corporations. You’ll work closely with Technology, Compliance, Finance, and front-office teams to drive operational stability and incremental automation.
Core Responsibilities & Duties1) Trade Support, Clearing & Settlement - Manage daily clearing and settlement activities with NSE Clearing / BSE Clearing ensuring timely fund flows and demat deliveries.
- Ensure accurate processing of pay-in/pay-out, settlement obligations, shortages, auction handling, and exception resolution.
- Track settlement timelines and ensure adherence to exchange/clearing corporation cut-offs.
2) Margins, Collateral & Risk Operations (Operational Execution)- Support accurate computation/collection of margins, MTM, and exposure; monitor margin shortfalls and coordinate timely actions.
- Maintain daily controls around risk checks, limit breaches, and operational risk events; escalate issues with clear root-cause and fix plan.
3) Reconciliations & Controls- Own daily/periodic reconciliations including exchange, client ledger, bank, depository, and settlement-related reconciliations.
- Ensure breaks are investigated, evidenced, resolved within defined TATs, and reported through appropriate governance.
- Maintain strong maker-checker controls, audit trails, and documentation aligned to internal policies and regulatory expectations.
4) Client Lifecycle & Service Operations- Oversee operational processing for client onboarding, activation, and modifications, ensuring compliance with SEBI KYC, PMLA, FATCA/CRS requirements.
- Manage operational aspects of investor grievance handling in line with SEBI timelines, SCORES, and exchange mandates; ensure accurate responses and closure evidence.
5) Regulatory Reporting & Audit Support- Prepare/review operational inputs for regulatory filings such as EOD reports, margin reporting, capital adequacy support packs, and audit responses.
- Support internal/external audits and regulatory inspections by providing accurate data, reconciliations, SOPs, and evidence packs.
- Ensure SOPs and process notes are current and reflect regulatory circulars and operational changes.
6) Technology & Process Improvement - Work with Technology/Product teams on OMS/RMS/BO operational issues, UAT support, and production incident triage.
- Identify automation opportunities in reconciliations, statements, payout workflows, and settlement tracking; help define requirements and validate outcomes.
- Track operational SLAs, recurring issues, and drive closure through structured problem management.
7) Key Interfaces- Internal: Compliance, Finance, Technology, Product, Risk, Client Service
- External: Exchanges, Clearing Corporations, Depositories, Banks, Technology partners
Mandatory Qualifications, Certifications & Experience- Education: Graduate in Commerce / Finance / Business Administration/Engineering. MBA or equivalent preferred.
- Recommended Certifications:
- Mandatory NISM Series VII - Securities Operations and Risk Management
- Good to have: NISM Series-VIII: Equity Derivatives; NISM-Series-XXIV: AML and CFT Provisions; NISM Series-VI: Depository Operation
- Experience: Minimum 7+ years in stock broking operations, clearing, or depository functions,
- Domain Knowledge: Deep, functional knowledge of NCL & ICCL settlement processes, reconciliation, risk operations, collateral management, reporting, and back-office accounting software
Preferred Skills & Competencies- Expert-level domain knowledge of broking back-office operations and regulatory requirements
- Deep familiarity with SEBI Master Circulars, Exchange operational rules, Depository Operating Instructions, and PMLA requirements
- Proven ability to scale high-volume broking operations with operational resilience
- Exceptional attention to detail and ability to work under strict deadlines
- Proficiency in risk management and internal controls
- Strong stakeholder management, vendor coordination, and cross-functional collaboration skills
- Experience working within large broking or financial institutions is a strong plus
Employment Type: Full-time, Permanent
Eligibility Criteria
- India Bank / INM employees will be eligible to apply to this role after completion of 12 months in the current role/position at the time of application on level transfer and/or promotion.
- Entity Employees (not from India Bank) to be guided by their internal policy on tenure completion in current role at the time of application before applying and share line manager approval once shortlisted
- INM Employees in scope of WPB Career Progression Framework not eligible to apply to roles within the purview of the Framework.
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Issued by The Hongkong and Shanghai Banking Corporation Limited, India
