Deputy Manager - Enforcement

The NSE Clearing Limited; Mumbai; On-site; INR 1,200,000 - 1,800,000; Full time

Job summary

A financial services organization is seeking a qualified individual with at least 2 years of relevant experience in the securities market. The role involves initiating disciplinary proceedings against Clearing Members, ensuring compliance with regulatory timelines, coordinating member interactions, and preparing necessary documentation. Candidates must possess a CA and/or CS degree/NISM background, along with strong analytical skills and knowledge of financial markets. This position is crucial for maintaining compliance and effective enforcement within the organization.

Qualifications

• Minimum 2 years of experience in the financial sector.
• Relevant working experience in securities market is preferred.

Responsibilities

• Initiate disciplinary proceedings against Clearing Members.
• Ensure timely processing of inspection reports.
• Issue Show Cause Notices for critical observations.
• Coordinate with members for replies and escalations.
• Prepare draft speaking orders and circulars.
• Manage grievance redressal mechanism.
• Submit reports/data to stakeholders within TAT.
• Prepare speaking orders for SCNs.
• Liaise with Legal, Finance & Accounts for penalty collection.
• Test internal systems and handle penalty reviews/appeals.
• Prepare circulars on regulatory changes.
• Review penalty framework vs other MIIs.
• Interface with internal for compliance reports.
• Submit reports within TAT and interact with SEBI.

Skills

Knowledge of financial and capital markets

Knowledge of functional requirements applicable to securities markets

Excellent analytical skills

Education

CA and/or CS degree/NISM background

Job description

Overview

The primary responsibility of the role is to initiate disciplinary proceedings against the Clearing Member and ensure timely processing of inspection reports, compilation of internal and external turnaround times, accuracy of Letters of Observation, reply analyses, fact verification for Show Cause Notices, and compliance before committee meetings. The role also involves data collation for SEBI, auditor, and other departments, identifying and fixing database issues via IT coordination, raising IOM for penalty collection, verifying draft minutes/orders, and informing the accounts department of penalties.

Key Responsibilities

• Send the letter of observation to members after the inspection report is approved internally (for onsite and offsite inspection).
• Prepare the enforcement summary note after receiving the members reply.
• Issue Show Cause Notices to members for critical inspection observations.
• Coordinate with members for reply and clarifications and escalations in case of non‑submissions.
• Present the case of the member before the relevant Authority (i.e. the Member Committee).
• Coordinate for organizing the MC meeting, prepare the notice, agenda and minutes.
• Send the action intimation letter to the members communicating monetary penalty imposed / interim direction / warning after finalisation of minutes.
• Prepare draft speaking order for SCNs, capturing all critical matters.
• Liaise with internal stakeholders like Legal, Finance & Accounts for penalty collection.
• Test internal systems.
• Handle penalty review and appeal cases.
• Prepare circulars to inform members about new or changes in regulatory requirement.
• Review penalty framework against other MIIs.
• Manage grievance redressal mechanism.
• Interface with internal departments for information collection for compliance reports.
• Prepare internal MIS reports and other submissions under SEBI regulations.
• Initiate process upgrades as necessitated by regulatory changes.
• Submit reports/data/information to stakeholders within TAT.
• Interact with SEBI for enforcement compliance matters.
• Ensure adherence to regulatory timelines.
• Assist in inspection by regulator and external agencies.

Role Holder Requirements

Educational Qualifications

Essential: CA and/or CS degree/NISM background. Desired: None.

Knowledge & Skills

• Knowledge of financial and capital markets.
• Knowledge of functional requirements applicable to securities markets.
• Excellent analytical skills.

Experience

Essential: minimum 2 years of experience. Desired: Relevant working experience in securities market.

Work experience in regulatory departments of MIIs would be preferred.

Note

The principal responsibilities listed above are an illustrative list and not an exhaustive list. Additional responsibilities may be added from time to time depending on organisational requirements.