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Position Details
Head of Business Operations, HSBC Invest Direct Securities (India) Pvt. Ltd (HISL)
Department: Business Operations
Location: Mumbai
Job Summary
The Head of Operations will lead the end-to-end operational ecosystem of the broking business across trading, clearing, settlement, risk operations, depository, reconciliation, and client service. You will own trade-to-settlement processes, regulatory compliance/reporting & back-office automation, ensuring compliance with SEBI, exchange, depository & clearing corporation guidelines. This is a senior, functional leadership role with cross-functional influence across product, strategy, technology, finance, and compliance.
Core Responsibilities & Duties
Operations Leadership & Strategy
- Lead and oversee all back-office functions/processes for trading & depository, across products.
- Develop and maintain standard operating procedures (SOPs) aligned with SEBI, Exchanges, and Depositories & Clearing Corporation regulations
- Monitor daily operations including client onboarding, trade settlements, pay-in/pay-out, reconciliations, and corporate actions
- Act as the Designated Person – Clearing for NSE/BSE clearing memberships, coordinating with clearing corporations and ensuring adherence to margin, collateral, and settlement timelines
Trade, Clearing & Settlement Management
- Supervise daily clearing and settlement with NSE Clearing / ICCL / MCXCCL, ensuring timely fund flows and demat deliveries
- Ensure accurate computation and collection of margins, MTM, and exposure limits; manage collateral, pledge-repledge, and margin reporting as per SEBI / CC circulars
- Oversee funds and securities pay-in/pay-out; client ledger reconciliations, and bank-DP reconciliations
- Liaise with clearing members and custodians for trade settlements and institutional operations
Client Lifecycle & KYC Operations
- Oversee client onboarding, account activation, and modification processes; ensure full compliance with PMLA, SEBI KYC, and FATCA/CRS norms
- Manage investor grievance redressal in line with SEBI timelines, SCORES platform, and Exchange mandates
Depository & DP Operations
- Manage DP operations (CDSL/NSDL); oversee DP-related compliance filings, inspections, and DP interface automation
- Coordinate pledge, unpledge and off-market transfer requests; handle corporate action updates and benefit distribution
Regulatory & Compliance Coordination
- Ensure full adherence to SEBI Master Circular for Stockbrokers, Exchanges, operational circulars, and Depository instructions
- Supervise regulatory filings – e.g., capital adequacy, margin shortfall, EOD reports, internal audit responses
- Support statutory, SEBI, Exchange, and DP inspections with accurate and timely submissions
Technology, Automation & Transformation
- Partner with Technology & Product teams to enhance back-office systems (OMS/RMS/BO integration)
- Drive automation of reconciliation, client statement generation, payout workflows, and settlement tracking
- Coordinate with technology partners to ensure operational SLAs are met and enhancements are prioritized
Vendor & Stakeholder Management
- Act as the business owner for vendor-delivered operations services; hold vendors accountable for uptime, accuracy, and turnaround times
- Coordinate with HSBC Bank entities for fund settlement, segregated client accounts, and regulatory reporting as per inter-entity agreements
Mandatory Qualifications, Certifications & Experience
- Education: Graduate in Commerce / Finance / Business Administration. MBA or equivalent preferred
- Recommended Certifications: NISM Series VII, NISM Series-VI: Depository Operations; NISM Series-VIII: Equity Derivatives; NISM-Series-XXIV: AML and CFT Provisions
- Experience: Minimum 10+ years in stock broking operations, clearing, or depository functions, with at least 3-5 years in a senior managerial role (preferably within financial markets or brokerage houses)
- 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 banking or financial institutions is a strong plus
Employment Type: Full-time, Permanent
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