Manager - Settlement Operations - Stock Broking/Financial Services

Job Title: Manager - Settlement

Key Responsibilities :

1. Trade Settlement Management:

- Ensure accurate and timely settlement of trades in accordance with exchange (NSE, BSE, MCX) and regulatory guidelines.

- Manage and oversee the settlement of both equity and derivatives trades, coordinating with clearing corporations, depositories, and custodians.

- Reconcile trade confirmations and clearing data to ensure all trades are settled within the specified deadlines.

2. Funds and Securities Management:

- Manage the flow of funds and securities for settlements, ensuring that the firm's obligations are met on time.

- Ensure clients' securities are credited or debited in accordance with the trade settlement instructions.

- Monitor and manage daily margin requirements and ensure the firm's liquidity is maintained for smooth settlement operations.

3. Reconciliation and Discrepancy Resolution:

- Conduct daily reconciliation of settlement accounts, ensuring accurate tracking of client funds, broker funds, and securities.

- Investigate and resolve any discrepancies in settlement, such as failed trades or unmatched transactions, working with the relevant teams to resolve issues promptly.

4. Regulatory Compliance:

- Ensure all settlement operations comply with SEBI, stock exchange, and depository regulations.

- Maintain accurate records of settlements, reconciliations, and client transactions for audit purposes.

- Stay updated on changes in settlement rules and implement necessary changes to internal processes.

5. System and Process Optimization:

- Implement and oversee the use of settlement systems and tools to automate and streamline settlement operations.

- Identify opportunities to improve the efficiency and accuracy of the settlement process.

- Ensure that the firm's back-office systems are up-to-date and capable of handling high volumes of transactions with minimal errors.

6. Reporting & Analytics:

- Prepare daily, weekly, and monthly settlement reports, tracking settlement performance, discrepancies, and compliance with regulations.

- Provide senior management with regular updates on settlement processes, challenges, and areas for improvement.

- Track settlement KPIs and ensure alignment with company goals and client satisfaction standards.

Qualifications:

- First Class Bachelor's degree in Finance, Accounting, Economics, or a related field (Master's degree preferred).

- 5+ years of experience in trade settlement, operations, or back-office roles within a stockbroking or financial services firm.

- Strong knowledge of stock exchange settlement cycles (T+1/T+2), clearing processes, and SEBI regulations.

- Proficiency in settlement software, back-office systems, and reconciliation tools.