Head Operations (Stock Broking)

Ashika Group; Kolkata District; On-site; INR 900,000 - 1,300,000; Full time

Job summary

Ashika Group in Kolkata invites an experienced professional to lead Risk Management, RMS, and Back Office & Settlement Operations within our broking business. You will own risk limits, oversee margin management, and coordinate with Technology to sustain real-time monitoring and robust controls.

The role requires 12-18 years in broking operations with strong exposure to NSE/BSE/MCX, SEBI regulations, and vendor management.

Qualifications

• 12-18 years of relevant experience in broking operations, risk management, RMS, settlements or capital markets operations.
• Proven experience managing RMS and risk controls, including exposure limits, margins and collateral.
• Strong leadership, stakeholder management and escalation management skills.

Responsibilities

• Own the overall Risk Management framework for the broking business.
• Oversee RMS operations across pre-trade, intra-day and post-trade risk management.
• Lead Back Office & Settlement Operations across Equity, Derivatives, Currency and other segments.
• Oversee Depository Participant operations across CDSL/NSDL.
• Own client fund movements, banking operations, UPI and payment gateways.

Skills

Risk management

RMS

Broking operations

Leadership

Stakeholder management

Automation

Tools

OMS

RMS systems

Back Office systems

DP systems

Job description

Role & responsibilities

Risk Management & RMS

• Own the overall Risk Management framework for the broking business.
• Oversee RMS operations covering pre-trade, intra-day and post-trade risk management.
• Establish and monitor client-wise and segment-wise exposure, margin and risk limits.
• Oversee management of MTF, F&O, intraday, pledged securities and other leveraged products.
• Ensure effective monitoring of margin shortfalls, peak margin requirements, collateral and client exposures.
• Develop appropriate risk limits, escalation matrices and exception management processes.
• Work closely with Technology and RMS vendors to ensure accuracy, stability and real-time risk monitoring.
• Ensure robust contingency and disaster-recovery procedures for critical risk systems.

Back Office & Settlement Operations

• Oversee the complete trade-to-settlement lifecycle across Equity, Derivatives, Currency and other applicable segments.
• Lead Back Office operations including trade processing, contract note, ledger management, pay-in / pay-out, settlement, corporate actions, reconciliation, client reporting, P&L and taxation reports
• Ensure timely and accurate reconciliation between exchanges, clearing corporations, banks, depositories and internal systems.
• Drive automation and reduction of manual operational processes.
• Establish strong maker-checker and operational control mechanisms.

Depository / DP Operations

• Oversee the Depository Participant operations across CDSL/NSDL.
• Ensure efficient processing of demat account opening, rematerialisation / dematerialization, transfers pledge / unpledged, DDPI, corporate actions, transmission Account closure
• Ensure adherence to depository and regulatory requirements.
• Monitor DP reconciliations and operational exceptions.
• Improve turnaround times and client experience across DP services.

Banking & Payments

• Own the operational relationship with banking partners supporting the broking business.
• Oversee client fund movement, pay-in/pay-out and settlement-related banking operations.
• Ensure timely reconciliation of client funds, bank balances and settlement obligations.
• Manage processes around UPI, payment gateways, e-mandates and other payment infrastructure.
• Ensure strong controls around client funds and segregation requirements.
• Work with Finance and Compliance to ensure regulatory adherence and accurate reporting.

Exchange & Clearing Operations

• Oversee operational relationships with NSE, BSE, MCX/other relevant exchanges, clearing Corporations, CDSL, NSDL
• Ensure smooth functioning of exchange connectivity, clearing and settlement processes.
• Coordinate resolution of operational issues, exchange queries and settlement exceptions.
• Ensure preparedness for new exchange/regulatory requirements and circular implementations.

Regulatory & Operational Compliance

• Work closely with the Compliance and Legal teams to ensure operational adherence to SEBI, exchange, clearing corporation and depository regulations.
• Ensure timely implementation of regulatory circulars impacting operations.
• Establish robust SOPs, controls and audit trails.
• Coordinate internal, statutory, exchange, SEBI and depository audits from an operations perspective.
• Ensure timely closure of audit observations and operational gaps.

Client Operations & Service Delivery

• Oversee operational aspects of the entire client lifecycle, including cccount opening, KYC / Re-KYC, activation, trading operations, funds, demat, settlements, account closure.
• Improve operational TATs and reduce client complaints and escalations.
• Build effective escalation mechanisms for high-value and critical client issues.
• Work with Customer Service, Product and Technology teams to improve client journeys.

Technology & Systems

• Partner closely with the CTO/CIO/Product teams to ensure that operational systems are scalable and reliable.
• Oversee critical systems including OMS, RMS, Back Office, DP systems, Reconciliation systems, Payment systems and client onboarding systems.
• Drive automation and straight-through processing across operations.
• Identify operational technology gaps and work with technology teams/vendors to resolve them.
• Ensure appropriate system controls, audit trails and business continuity.

Vendor & Partner Management

• Manage key operational vendors and technology partners across RMS, OMS, Back Office, DP, payments and other infrastructure.
• Negotiate SLAs and ensure adherence to agreed service levels.
• Drive vendor performance reviews and escalation mechanisms.
• Evaluate and onboard new vendors where required.

Preferred candidate profile

• 12-18 years of relevant experience in Broking Operations, Risk Management, RMS, Settlements or Capital Markets Operations, with significant leadership experience.
• Strong understanding of the Indian broking ecosystem across Equity, Derivatives, Currency and other relevant segments.
• Proven experience managing RMS and risk controls, including exposure limits, margins, collateral, peak margin, MTF, F&O, intraday and pledged securities.
• Strong experience in Back Office and Settlement Operations, covering trade processing, contract notes, ledgers, pay-in/pay-out, reconciliation, corporate actions, P&L and taxation reporting.
• Hands‑on understanding of CDSL/NSDL DP operations, including demat, remat, transfers, pledge/unpledge, DDPI, corporate actions, transmission and account closure.
• Strong understanding of client fund management, banking operations, UPI, payment gateways and e‑mandates in a broking environment.
• Experience managing operational relationships with NSE, BSE, MCX, clearing corporations, CDSL and NSDL.
• Strong knowledge of SEBI, exchange, clearing corporation and depository regulations, circular implementation, audits and operational controls.
• Experience in managing OMS, RMS, Back Office, DP, reconciliation, payment and client onboarding systems, with the ability to work closely with Technology/Product teams.
• Proven ability to drive automation, STP, process improvement and reduction of manual operational activities.
• Strong experience in vendor and technology partner management, including SLA management, performance reviews and escalations.
• Excellent understanding of operational risk, controls, SOPs, maker-checker processes, audit trails, BCP and disaster recovery.
• Strong leadership, stakeholder management, problem‑solving and escalation management skills.
• Ability to build and lead large, cross‑functional operations teams and establish a culture of accountability, accuracy and control.
• Candidates from stockbroking firms will be considered