Vice President Brokerage Operations

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Business Descriptor:

• The VP, 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 & Duties

1) 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 10+ 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

Pro-tip : Familiarity with AI-enabled tools is an advantage.

Useful Link

Link to Careers Site: Click HERE 

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Issued by The Hongkong and Shanghai Banking Corporation Limited, India