Head - Capital Market Operations

Job Purpose:

To lead and manage the Capital Market Operations for the Bank, covering Depository Services (NSDL/CDSL), Portfolio Investment Scheme (PIS) for NRIs, and the Exchange Clearing Cell (ECC). The role will ensure regulatory compliance, operational efficiency, risk management, and superior client service across all products and processes in scope.

Key Responsibilities:

- Provide strategic direction and leadership to the Capital Market Operations team.

- Develop and implement policies, SOPs, and controls for Depository Operations, PIS, and ECC.

- Drive digital transformation, automation, and process re-engineering to enhance efficiency and service quality.

- Oversee all operational activities related to depository participant services.

- Ensure timely and accurate execution of settlement instructions, dematerialization, rematerialization, pledge/hypothecation, and corporate actions.

- Liaise with depositories and exchanges for system enhancements, audits, and reconciliations.

- Manage PIS operations for NRI clients, ensuring seamless coordination with RBI, exchanges, custodians, and internal stakeholders.

- Ensure accurate monitoring of PIS limits, regulatory reporting, and compliance with FEMA/RBI guidelines.

- Oversee reconciliations, tax computation/reporting, and remittance processing.

- Supervise inward/outward clearing functions related to stock exchange settlements.

- Ensure smooth processing of client pay-ins, payouts, margin collections, and other clearing obligations.

- Coordinate with Clearing Corporations, custodians, and internal settlement teams to meet all timelines.

- Ensure adherence to all regulatory requirements from SEBI, RBI, NSDL/CDSL, and stock exchanges.

- Implement robust risk controls and monitoring mechanisms to mitigate operational, compliance, and settlement risks.

- Coordinate with Internal Audit, Statutory Audit, and Regulatory Inspectors for smooth conduct and closure of audits.

- Lead, mentor, and develop a high-performing operations team.

- Build effective relationships with business teams, compliance, legal, IT, and external partners.

- Act as an escalation point for critical operational issues.