Job Title: VP / AVP - Risk Systems, Controls & Governance - Capital Markets

Experience: 15-20 Years

Industry: Capital Markets / Financial Services

Location: Mumbai

Reporting To: Chief Risk Officer / CEO

Job Summary

We are seeking an experienced Vice President - Risk Management with deep expertise in the Capital Markets domain to lead the organization's risk management framework. The role will be responsible for identifying, assessing, monitoring, and mitigating market, liquidity, operational, and regulatory risks across capital market activities while ensuring compliance with applicable regulations and industry best practices.

Key Responsibilities

Risk Strategy & Governance

- Develop and implement enterprise-wide risk management strategies aligned with business objectives.

- Establish and maintain risk governance frameworks, policies, and procedures.

- Present risk assessments, dashboards, and recommendations to senior management and Board committees.

- Drive a strong risk culture across the organization.

- Oversee the end-to-end Margin Trading Facility (MTF) risk management framework, including funding exposure, collateral management, and liquidation processes.

- Monitor client-wise, security-wise, and broker-level margin funding exposure to ensure compliance with internal risk limits and regulatory requirements.

- Establish and maintain robust controls for funding quality, collateral adequacy, concentration risk, and portfolio health.

Drive automation initiatives for exposure monitoring, liquidation controls, exception reporting, and management dashboards.

- Ensure adherence to SEBI, Exchange, and Clearing Corporation regulations related to MTF and margin funding activities.

- Present risk metrics, portfolio quality reports, and funding exposure analysis to senior management and relevant committees.

- Lead incident reviews, root-cause analysis, and implementation of corrective and preventive actions for risk-related events.

Market Risk Management

- Monitor and manage market risk exposures across equity, derivatives, fixed income, commodities, and other capital market products.

- Develop risk measurement models including VaR, stress testing, scenario analysis, and sensitivity analysis.

- Evaluate portfolio risk and recommend appropriate hedging strategies.

- Ability to evaluate the impact of market crashes, volatility spikes, margin changes, funding constraints, and concentration exposures on the firm's capital, liquidity, and risk profile.

Risk Management Systems & Controls

- Own and enhance the organization's Risk Management System (RMS) framework across trading, margining, exposure monitoring, surveillance, and risk reporting.

- Ensure effective design, implementation, and governance of pre-trade, at-trade, and post-trade risk controls.

- Define and monitor risk limits, exposure controls, margin frameworks, concentration limits, and automated breach management mechanisms.

- Partner with Technology teams to develop, test, and implement risk engines, control frameworks, and risk automation initiatives.

- Drive periodic review of risk controls to ensure alignment with business growth, new products, regulatory changes, and market developments.

- Oversee User Acceptance Testing (UAT), validation, and periodic audits of risk management systems and controls.

- Ensure robustness of risk data architecture, reconciliation processes, exception management, and management reporting.

- Establish control monitoring dashboards and Key Risk Indicators (KRIs) to identify emerging risks and control weaknesses.

- Lead risk technology transformation initiatives involving analytics, AI/ML-based surveillance, automated monitoring, and real-time risk reporting.

Operational & Regulatory Risk

- Identify operational risks related to trading, settlements, clearing, and market operations.

- Ensure compliance with regulatory requirements prescribed by SEBI, Exchanges, Depositories, and other relevant authorities.

- Lead risk reviews, audits, and regulatory inspections.

- Strong knowledge of QSB (Qualified Stock Broker) audit requirements, regulatory frameworks, and risk management controls, with the ability to coordinate audit reviews, compliance assessments, and remediation activities.

- Thorough understanding of client fund and securities allocation, segregation processes, and regulatory requirements, ensuring compliance with SEBI, Exchange, and Clearing Corporation guidelines.

- Experience in monitoring allocation controls, segregation mechanisms, reconciliation processes, and risk mitigation measures to maintain operational and regulatory compliance.

Risk Analytics & Reporting

- Develop and enhance risk reporting frameworks and MIS dashboards.

- Utilize quantitative models and analytics for risk assessment and decision-making.

- Monitor key risk indicators (KRIs) and provide actionable insights.

Stakeholder Management

- Collaborate with Trading, Treasury, Compliance, Operations, Finance, and Technology teams.

- Act as a key advisor to senior leadership on risk-related matters.

- Manage relationships with regulators, auditors, and external stakeholders.

Required Qualifications

- MBA (Finance) qualification preferred.

- 15-20 years of experience in Risk Management within Capital Markets or Financial Services organizations.

- Strong knowledge of Margin Trading Facility (MTF) operations, funding processes, risk management practices, and regulatory requirements.

- Ability to analyse trading patterns, funding utilization, and operational processes to ensure effective risk control and optimal capital deployment.

Required Skills & Expertise

- Strong understanding of Capital Market products, trading activities, and market infrastructure.

- Expertise in Market Risk, Liquidity Risk, and Operational Risk management.

- Good knowledge of SEBI regulations, exchange rules, and risk management practices.

- Experience with risk models, stress testing, VaR methodologies, and portfolio analytics.

- Strong analytical, leadership, and stakeholder management skills.

- Proficiency in risk management systems, data analytics, and reporting tools.

- Strong expertise in Risk Management Systems (RMS), Margin Management Systems, Exposure Monitoring Frameworks, and Trade Surveillance Platforms.

- Experience designing and implementing automated risk controls across trading and investment operations.

- Deep understanding of exchange risk management mechanisms, margining methodologies, position limits, and exposure controls.

- Experience with risk system implementation, control testing, process automation, and technology-driven risk governance.

- Ability to work closely with Product and Technology teams to build scalable risk infrastructure and control environments.

Preferred Experience

- Experience leading large risk teams and managing enterprise-level risk frameworks.

- Exposure to algorithmic trading, derivatives, margin management, and clearing operations.

- Proven track record of interacting with regulators and senior leadership teams.