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.
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