Vice President/Head - Clearing/Settlement & Collateral Management - Bank

We have an urgent opening for a reputed Company Based out in Mumbai. kindly find the details below

Requirement :- VP - Head of Clearing and Settlement & Collateral management- Broking / Exchange/ MII

Job Description :

- Compliance to the Statutory and regulatory requirements related to Clearing and Settlement and Collateral Functions.

- Timely technological and process upgrades to meet changing business requirements.

- Monitoring and review of operational activities to ensure timely settlement/ closure.

- Liaison with cross-functional departments, members, service providers and regulators.

- Manpower planning and development.

- Ensuring timely settlement of funds

- Verifying the bank files generated (Pay In & Pay Out obligations) for individual banks and ensure timely forwarding of the same to the respective banks.

- Ensuring Timely calculation of the Mark to Market (MTM) margins, Special margins and variation margins for members and communication sent to the T & S department.

- Ensuring generation of margin deficit file and forwarding of the same to the member & the bank

- Ensuring receipt of requisite margins from the members

- Ensuring timely settlement of dues

- Ensuring calculation of to members

- Ensuring timely communication of Bhav copy, trade files, obligation, open positions etc to the members through FTP

- Ensuring timely generation of MIS and resolution of customer grievances/complaints

- Ensuring timely preparation & communication of any new circular issued by the exchange related to new contracts, new commodities, changes in the system etc

- Introducing of best practices in the department

- Ensuring reporting of any violation or deviation in respect of rules, regulations, laws etc

- Ensuring compliance of all regulatory norms as specified by the Securities Exchange Board of India (SEBI) or other regulatory authorities.

- Ensuring Imposing penalties for deficit in margins

- Ensuring reduction in amount from initial margin in case of default in Pay In amount

- Ensuring necessary action taken against members for non-payment of dues

- Ensuring proactive action taken against possible default by verifying simulation report

- Ensuring safekeeping of Bank guarantees & FDRs

- Uploading margins for collaterals

- Overseeing of quarterly verification of collateral by Internal Auditor

- Advance planning, scheduling and co-ordination for operational efficiency

- Verifying the process document for each event and each commodity to improve operational efficiency.

- Engaging in tie ups & maintain relationships with banks and other external agencies for Clearing & Settlement

- Verifying the MIS & forward to the top management.