Assistant Vice President - Clearing & Settlement and Collateral

• Compliance to the Statutory and regulatory requirements related to Clearing and Settlement and Collateral Functions.
• Timely technological and process upgrades to meet changing business requirements.
• Monitoring and review of operational activities to ensure timely settlement/ closure.
• Liaison with cross-functional departments, members, service providers and regulators.
• Manpower planning and development.
• Ensuring timely settlement of funds
• Verifying the bank files generated (Pay In Pay Out obligations) for individual banks and ensure timely forwarding of the same to the respective banks.
• Ensuring Timely calculation of the Mark to Market (MTM) margins, Special margins and variation margins for members and communication sent to the T S department.
• Ensuring generation of margin deficit file and forwarding of the same to the member the bank
• Ensuring receipt of requisite margins from the members
• Ensuring timely settlement of dues
• Ensuring calculation of to members
• Ensuring timely communication of Bhav copy, trade files, obligation, open positions etc to the members through FTP
• Ensuring timely generation of MIS and resolution of customer grievances/complaints
• Ensuring timely preparation communication of any new circular issued by the exchange related to new contracts, new commodities, changes in the system etc
• Introducing of best practices in the department
• Ensuring reporting of any violation or deviation in respect of rules, regulations, laws etc
• Ensuring compliance of all regulatory norms as specified by the Securities Exchange Board of India (SEBI) or other regulatory authorities.
• Ensuring Imposing penalties for deficit in margins
• Ensuring reduction in amount from initial margin in case of default in Pay In amount
• Ensuring necessary action taken against members for non-payment of dues
• Ensuring proactive action taken against possible default by verifying simulation report
• Ensuring safekeeping of Bank guarantees FDRs
• Uploading margins for collaterals
• Overseeing of quarterly verification of collateral by Internal Auditor
• Advance planning, scheduling and co-ordination for operational efficiency
• Verifying the process document for each event and each commodity to improve operational efficiency.
• Engaging in tie ups maintain relationships with banks and other external agencies for Clearing Settlement
• Verifying the MIS forward to the top management.

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