SVP Business Operations Lead

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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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