Head of Retail Broking, India

Head of Retail Broking India (39101)

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The Head of Retail Broking India is accountable for setting up and scaling the retail broking business as an exchange broker member. The role has end-to-end ownership of strategy proposition operating model financial performance and risk/control outcomeslaunching with cash equities and expanding rapidly into Futures & Options (F&O) Margin Trading Facility (MTF) and other capabilities.

The role will work in close partnership with the bank (which will act as the Depository Participant initially) to deliver an integrated 3in1 value proposition (banking demat trading) primarily to existing bank clients while also building an industry-leading proposition that attracts new-to-bank customers.

The position is located in Mumbai India.

Principal accountabilities

Strategy growth and financial performance

• Define and execute the India retail broking strategy including target segments proposition product roadmap (cash equities F&O MTF) and go-to-market plan.
• Own P&L (or agreed revenue/cost targets) including pricing brokerage yield client activity retention and cost-to-serve.
• Establish a performance management framework with KPIs and governance (funded/active accounts volumes revenue per client NPS complaints incidents control metrics).

3in1 proposition and bank partnership (core accountability)

• Build and run the operating model with the bank to deliver a seamless 3in1 experience with clear ownership across onboarding demat account opening/maintenance (via bank DP) trading funding flows and servicing.
• Drive bank-led acquisition as the primary channel: referral journeys RM/branch enablement campaigns and conversion management.
• Create a compelling differentiated value proposition that also attracts new clients (pricing platform features research/insights where applicable service model education).
• Put in place joint governance with the bank covering customer outcomes conduct complaints incidents MI and change delivery.

Customer experience digital and journey excellence

• Deliver simple transparent and competitive customer journeys across digital and assisted channels.
• Drive digitisation and automation of end-to-end journeys: onboarding/KYC account linking funding trading contract notes/reporting service and complaints.
• Use data and customer insights to improve engagement and responsible trading outcomes (disclosures education risk prompts).

Broker member obligations market conduct and regulatory management

• Maintain ongoing compliance with applicable regulations and broker member obligations including exchange/clearing rules reporting and inspection readiness.
• Ensure robust market conduct controls: order handling surveillance investigations escalation and timely regulatory reporting.
• Lead effective relationships with market infrastructure institutions (exchanges clearing corporations) and ensure timely implementation of rule/circular changes.

Clearing settlement and client asset protection (with DP dependency managed)

• Own front-to-back readiness for clearing and settlement: margining pay-in/pay-out reconciliations corporate actions exception management and service recovery.
• Ensure strong controls for client money and securities including clear handoffs and reconciliations with the bank as DP and accurate client reporting/record retention.
• Build operational resilience for peak volumes and market stress events including incident management and BCP/DR.

Product expansion (F&O MTF and beyond)

• Deliver controlled expansion into F&O and MTF including eligibility criteria disclosures margin/risk frameworks monitoring and customer communications.
• Partner with Risk/Compliance/Operations/Technology to ensure product launches meet regulatory expectations and internal standards.

Key Skills and Requirements

• Senior leadership experience in retail broking in India with a track record of building/scaling propositions and delivering commercial outcomes.
• Strong knowledge of Indian broking regulatory and market infrastructure environment (exchange membership obligations clearing/settlement surveillance investor protection).
• Experience launching and managing higher-risk products (e.g. F&O MTF) with robust controls.
• Proven ability to deliver digital platforms and operational excellence by partnering with Technology to deliver resilient platforms which are audit/inspection ready.

For further details and application information please visit our careers site searching under reference number (Req ID: 39101).

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Issued by The Hongkong and Shanghai Banking Corporation Limited India