Manager, Operations

As a Manager, Business Operations at HSBC, you will oversee day-to-day broking back-office operations across various functions including trading support, clearing & settlement, risk operations, depository (DP), reconciliations, and client service. Your role will be crucial in ensuring timely settlements, accurate reconciliations, strong controls, and regulatory compliance with SEBI, Exchanges, Depositories, and Clearing Corporations. Collaboration with Technology, Compliance, Finance, and front-office teams will be essential to drive operational stability and incremental automation. **Core Responsibilities & Duties:** - **Trade Support, Clearing & Settlement:** - Manage daily clearing and settlement activities with NSE Clearing / BSE Clearing to ensure timely fund flows and demat deliveries. - Ensure accurate processing of pay-in/pay-out, settlement obligations, shortages, auction handling, and exception resolution. - Track settlement timelines and ensure adherence to exchange/clearing corporation cut-offs. - **Margins, Collateral & Risk Operations (Operational Execution):** - Support accurate computation/collection of margins, MTM, and exposure; monitor margin shortfalls and coordinate timely actions. - Maintain daily controls around risk checks, limit breaches, and operational risk events; escalate issues with clear root-cause and fix plan. - **Reconciliations & Controls:** - Own daily/periodic reconciliations including exchange, client ledger, bank, depository, and settlement-related reconciliations. - Ensure breaks are investigated, evidenced, resolved within defined TATs, and reported through appropriate governance. - Maintain strong maker-checker controls, audit trails, and documentation aligned to internal policies and regulatory expectations. - **Client Lifecycle & Service Operations:** - Oversee operational processing for client onboarding, activation, and modifications, ensuring compliance with SEBI KYC, PMLA, FATCA/CRS requirements. - Manage operational aspects of investor grievance handling in line with SEBI timelines, SCORES, and exchange mandates; ensure accurate responses and closure evidence. - **Regulatory Reporting & Audit Support:** - Prepare/review operational inputs for regulatory filings such as EOD reports, margin reporting, capital adequacy support packs, and audit responses. - Support internal/external audits and regulatory inspections by providing accurate data, reconciliations, SOPs, and evidence packs. - Ensure SOPs and process notes are current and reflect regulatory circulars and operational changes. - **Technology & Process Improvement:** - Work with Technology/Product teams on OMS/RMS/BO operational issues, UAT support, and production incident triage. - Identify automation opportunities in reconciliations, statements, payout workflows, and settlement tracking; help define requirements and validate outcomes. - Track operational SLAs, recurring issues, and drive closure through structured problem management. **Key Interfaces:** - **Internal:** Compliance, Finance, Technology, Product, Risk, Client Service - **External:** Exchanges, Clearing Corporations, Depositories, Banks, Technology partners **Mandatory Qualifications, Certifications & Experience:** - **Education:** Graduate in Commerce / Finance / Business Administration/Engineering. MBA or equivalent preferred. - **Recommended Certifications:** - Mandatory NISM Series VII - Securities Operations and Risk Management - Good to have: NISM Series-VIII: Equity Derivatives; NISM Series-VI: Depository Operation; NISM-Series-XXIV: AML and CFT Provisions - **Experience:** Minimum 4+ years in stock broking operations, clearing, or depository functions. - **Domain Knowledge:** Deep, functional knowledge of NCL & ICCL settlement processes, reconciliation, risk operations, collateral management, reporting, and back-office accounting software **Preferred Skills & Competencies:** - Expert-level domain knowledge of broking back-office operations and regulatory requirements - Deep familiarity with SEBI Master Circulars, Exchange operational rules, Depository Operating Instructions, and PMLA requirements - Proven ability to scale high-volume broking operations with operational resilience - Exceptional attention to detail and ability to work under strict deadlines - Proficiency in risk management and internal controls - Strong stakeholder management, vendor coordination, and cross-functional collaboration skills - Experience working within large broking or financial institutions is a strong plus At HSBC, we are committed to creating a workplace where every employee is valued, respected, and given opportunities for growth and development within an inclusive and diverse environment. Your personal data shared during the application process will be handled in accordance with our Privacy Statement available on our website. Join HSBC to unlock new opportunities and experience a rewarding career with