Vice President Risk Operations Lead

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Risk Operations Lead, HSBC Invest Direct Securities (India) Pvt. Ltd.(HISL)

Position Details

Department: Risk & Operations

Location: Mumbai

Job Summary

The Risk Operations Manager will own and manage risk operations & controls across trading activities for HISL. You will be responsible for daily monitoring of margin adequacy, exposure limits, and client risk parameters; overseeing pre-trade risk checks in the Risk Management System (RMS); managing margin calls, shortfall processes, and collateral monitoring; and ensuring compliance with SEBI/Exchange/clearing corporation/depository risk-management frameworks & obligations. You will handle exceptional scenarios like corporate actions impacting positions, ensure segregation of funds between bank and broking entity, and work closely with the Clearing team on MTM, pay-in/pay-out reconciliation, and risk incident reporting.

Core Responsibilities & Duties

Risk Monitoring & Surveillance

• Monitor real-time margin utilization, exposure limits, and collateral coverage across all client accounts and proprietary trading
• Oversee pre-trade risk checks in the RMS; ensure limits (position limits, margin sufficiency, buy-sell exposure) are enforced before order acceptance
• Track intra-day MTM (Mark-to-Market) and end-of-day margin requirements; escalate shortfalls and initiate margin calls or square-off procedures
• Maintain risk dashboards and generate daily risk reports for management and clearing corporations

Margin & Collateral Management

• Manage margin collection, shortfall follow-up, and enforcement of margin calls; coordinate with clients and operations for margin top-ups
• Oversee collateral management – cash, pledge/re-pledge of securities, FDRs, bank guarantees – in line with clearing corporation and SEBI guidelines
• Monitor haircuts on collateral and ensure timely reporting of margin shortfalls to clearing corporations and senior management

Clearing Corporation Coordination

• Act as the primary liaison with clearing corporations on risk-related matters, including margin obligations, pay-in/pay-out, and exceptional scenarios
• Monitor clearing corporation risk circulars and implement changes to risk parameters, margin rates, or exposure norms promptly
• Coordinate with clearing teams on MTM settlements, delivery obligations, and auction/close-out processes

 Risk Policy & Limit Management

• Define and maintain risk limits for clients and dealers (position limits, turnover limits, concentration risk, sector exposure)
• Review and update risk policies in line with SEBI regulations, Exchange circulars, and internal risk appetite
• Conduct periodic reviews of high-risk accounts, concentration risk, and large exposures; recommend remedial actions

Exceptional Scenario Management

• Handle exceptional scenarios such as corporate actions (dividends, bonus, splits, mergers) impacting client positions and margins
• Coordinate square-off procedures for margin shortfall clients or non-compliant positions
• Manage risk escalations during high volatility, market disruptions, or system failures

Segregation & Reconciliation

• Ensure segregation of client funds and securities as per SEBI regulations; monitor compliance with bank account segregation norms
• Coordinate with Back Office on MTM reconciliation, margin reporting, and pay-in/pay-out confirmations

Risk Incident Reporting

• Report risk incidents (margin breaches, limit violations, settlement failures) to senior management and regulators as required
• Maintain incident logs, root cause analysis, and corrective action plans for all risk events

RMS System Management & Vendor Coordination

• Coordinate with IT Ops and vendors to ensure RMS uptime, accuracy, and timely implementation of risk parameter changes
• Review RMS configurations, alerts, and automated controls; recommend enhancements to improve risk coverage

 Qualifications, Certifications & Experience

• Education: Graduate in Commerce / Finance / Economics / Business Administration. CA, CFA, FRM, or MBA in Finance is preferred
• Recommended Certifications: NISM Series VII, NISM Series-VIII: Equity Derivatives; FRM (Financial Risk Manager – GARP)
• Experience: Minimum 8–12 years in risk management, RMS operations, or clearing & settlement functions within stock broking or financial markets, with at least 3–5 years in a managerial capacity
• Domain Knowledge: Deep understanding of margin systems, MTM calculations, collateral management, pre-trade risk controls, clearing corporation processes, and SEBI/Exchange risk regulations

Preferred Skills & Competencies

• Expert knowledge of RMS platforms, risk parameters, and surveillance systems used in stock broking
• Strong analytical and quantitative skills for risk assessment, exposure analysis, and scenario modeling
• Deep familiarity with SEBI risk management circulars, Exchange risk norms, and clearing corporation guidelines
• Ability to work under pressure during high volatility or market disruptions
• Excellent attention to detail and process adherence
• Strong communication skills to coordinate with clients, dealers, clearing teams, and regulators
• Experience in a large broking house or institutional trading environment is highly desirable

Employment Type: Full-time, Permanent

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Issued by The Hongkong and Shanghai Banking Corporation Limited, India