Assistant Manager - DP Stock Broking

Job Description: KYC Depository Participant (DP) Operations

Experience: 9–11 Years

Function: Operations / Compliance

Industry: Stock Broking / Capital Markets / Financial Services

Location: Gurgaon, Haryana

Role Type: Full-Time

Role Overview

We are looking for an experienced KYC Depository Participant (DP) professional with 9–11 years of relevant experience, primarily in Depository Participant operations. The ideal candidate should have strong expertise in demat account opening and maintenance, CDSL/NSDL operations, KYC verification, regulatory compliance, and end-to-end DP processes.

The candidate will be responsible for ensuring seamless DP operations, maintaining regulatory compliance, managing operational risks, and coordinating with depositories, exchanges, internal teams, and clients.

Key Responsibilities

• Depository Participant (DP) Operations — Primary Responsibility
• Manage end-to-end DP operations, including demat account opening, activation, modification, closure, and maintenance.
• Handle CDSL/NSDL-related activities, processes, portals, and regulatory requirements.
• Oversee dematerialisation, rematerialisation, off-market transfers, inter-depository transfers, and other securities-related transactions.
• Manage DIS processing, e-DIS, DDPI, and related authorisations, wherever applicable.
• Handle pledge creation, invocation, closure, and release, along with securities transfer and settlement-related activities.
• Ensure timely processing of client requests, transaction instructions, and service requests within prescribed turnaround times.
• Reconcile DP records and resolve discrepancies related to client holdings, transactions, and depository records.
• Coordinate with CDSL/NSDL, clearing corporations, exchanges, and other relevant stakeholders for operational matters.
• Maintain DP records, documentation, registers, and audit trails in accordance with applicable regulations.
• KYC Client Onboarding
• Oversee KYC verification and client onboarding in accordance with applicable SEBI, KRA, CKYC, and PMLA requirements.
• Ensure appropriate verification of PAN, identity, address, bank details, and other prescribed documents.
• Manage KYC modifications, rejections, discrepancies, remediation, and periodic updation wherever applicable.
• Ensure adherence to applicable in-person verification, IPV, and video-based verification requirements.
• Coordinate with compliance, risk, and client servicing teams to resolve onboarding and documentation issues.
• Monitor KYC exceptions and ensure timely closure of pending cases.
• Regulatory Compliance Audits
• Ensure adherence to applicable SEBI regulations, depository bylaws, operating instructions, and internal policies.
• Support internal audits, concurrent audits, DP audits, and regulatory inspections.
• Prepare and maintain operational reports, compliance records, reconciliations, and audit documentation.
• Identify process gaps, operational risks, and control deficiencies and implement corrective measures.
• Track regulatory circulars and ensure timely implementation of relevant changes.
• Process Management Stakeholder Coordination
• Establish and improve SOPs, maker-checker controls, and operational workflows.
• Monitor productivity, turnaround times, pending cases, and error rates.
• Coordinate with technology, product, compliance, risk, and customer support teams to resolve operational issues.
• Support automation and process improvements to enhance operational efficiency and accuracy.
• Guide team members and ensure adherence to established processes and service standards.
  
  

• Graduate in Commerce, Finance, Business Administration, or a related discipline; relevant professional qualifications are an advantage.
• 9–11 years of overall relevant experience in stockbroking, capital markets, or financial services.
• Substantial hands-on experience in DP operations is mandatory and should form the major part of the candidate’s experience.
• Strong working knowledge of CDSL and/or NSDL processes and systems.
• Practical experience in demat account operations, securities transfers, pledging, account maintenance, and DP compliance.
• Sound understanding of KYC, KRA, CKYC, SEBI regulations, and applicable AML/PMLA requirements.
• Experience handling audits, reconciliations, operational controls, and regulatory documentation.
• Strong analytical, problem-solving, communication, and stakeholder-management skills.
  
  

• Candidates from stockbroking firms, depository participants, securities firms, or capital market intermediaries.
• Professionals who have independently handled DP operations rather than working exclusively in KYC or general client onboarding.
• Experience managing DP processes in a high-volume environment.
• Exposure to process automation, operational risk management, and team supervision.
• NISM certifications relevant to depository operations are an advantage, where applicable.
  
  

• Strong DP operational expertise
• Regulatory and compliance orientation
• Attention to detail and accuracy
• Problem-solving and decision-making
• Process ownership and execution
• Team coordination and stakeholder management