AVP Operations Greater Mumbai, India Area

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Role purpose

The Assistant Vice President – Fund Operations will manage end-to-end fund and broking operations, including client pay-in and payout, exchange clearing and settlement, treasury, banking, reconciliations, operational accounting, regulatory reporting, audit support and process improvement.

The role will ensure accurate and timely processing of client and firm funds, exchange obligations and settlement activities while maintaining strong controls, appropriate segregation of duties and compliance with applicable SEBI, exchange, clearing corporation, depository and internal requirements.

Key responsibilities

1. Fund settlement and client operations

Manage daily client fund pay-in and payout activities across applicable products and segments.

Process client transfers through NEFT, RTGS, CMS and other approved channels within prescribed cut-off times.

Validate payment instructions, approvals, beneficiary details and supporting documentation.

Post transactions accurately to client ledgers and operational systems.

Monitor and resolve rejected, returned, delayed or failed payments.

Process monthly and quarterly settlement payouts from preparation through approval and release.

Support client transactions including dividend payments, buy-back, OFS, margin movements and NRI client pay-in and payout.

Ensure appropriate segregation and utilisation of client funds.

Maintain maker-checker evidence, payment records and audit trails.

Resolve operational queries relating to fund transfers, payouts, demat charges, account opening, penalties and settlement status.

1. Exchange clearing and settlement

Prepare daily exchange obligations and arrange funds for timely pay-in and settlement.

Manage exchange pay-in, payout and settlement activities across relevant segments.

Post exchange obligation entries in the appropriate segment and accounting systems.

Monitor exchange calendars, settlement timelines and payment cut-offs.

Coordinate with Treasury, Finance, banks, exchanges and clearing corporations to meet obligations.

Investigate shortages, unmatched items, failed payments and delayed confirmations.

Maintain settlement trackers, exception logs and escalation reports.

Support margin and exchange requirements, including appropriate use of available funds and fixed deposits.

Prepare or review weekly bank-balance submissions and weekly/monthly SEBI and exchange reports.

1. Treasury and banking operations

Support treasury activities covering funding, disbursements, investments, concentration and inter-account transfers.

Review daily cash and bank positions across client, settlement, operational and firm accounts.

Arrange funding based on exchange obligations, client payouts and business requirements.

Coordinate with bank relationship managers on payment issues, confirmations and account matters.

Support investment of surplus funds in approved instruments, including mutual funds and fixed deposits where permitted.

Maintain accurate records of investments, redemptions, transfers and funding transactions.

Process vendor, exchange, clearing corporation, depository and service-provider payments through approved channels.

Monitor unusual, unauthorised or delayed fund movements and escalate promptly.

1. Reconciliations and financial controls

Oversee daily reconciliations for client and settlement bank accounts, firm accounts, client ledgers, exchanges, depositories, mutual funds and dividends.

Investigate reconciliation breaks, identify root causes and complete corrective action within agreed timelines.

Escalate aged or recurring breaks through the appropriate governance channels.

Validate bank entries, charges, interest, reversals, unidentified receipts and payment confirmations.

Post correction entries in accordance with approved procedures.

Perform AMC-wise mutual fund accounting and reconciliation where applicable.

Reconcile dividend records, payments and client ledger postings.

Maintain accurate daily, weekly and monthly reconciliation summaries.

Ensure effective maker-checker, access and segregation-of-duties controls.

1. Accounting, tax and management reporting

Ensure accurate posting of client receipts, payouts, exchange obligations, bank transactions and settlement entries.

Reconcile operational records to general ledger and accounting systems.

Support month-end closing, accruals, provisions, trial balances, income statements and balance-sheet schedules.

Prepare or review expense reconciliations, prepaid expenses, vendor payment schedules, debit notes, credit notes, fixed-asset records and group-company workings.

Support accounts payable, accounts receivable, employee reimbursements, payroll-related payments and petty cash.

Prepare daily, weekly and monthly MIS covering settlement, liquidity, reconciliations, payouts and exceptions.

Support preparation of GST, TDS and stamp-duty data.

Arrange TDS payments and support quarterly TDS return filing.

Coordinate TDS refund claims with exchanges and maintain follow-up records.

Validate vendor invoices and investigate higher-than-expected charges.

1. Regulatory reporting and audit

Prepare daily client-fund segregation reports accurately and within prescribed timelines.

Validate balances between bank accounts, client ledgers, settlement records and reporting outputs.

Support compliance with SEBI, exchange, clearing corporation, depository, banking and internal requirements.

Provide data for exchange enhancement, bank-balance, margin and other operational reports.

Coordinate responses to internal, statutory and exchange audits and regulatory inspections.

Prepare audit evidence including bank statements, reconciliations, client-fund reports, exchange reports, payment records, approvals, SOPs and exception logs.

Track audit observations, action owners, remediation plans and closure dates.

Ensure SOPs and process notes reflect current regulatory and operational requirements.

1. Systems and process improvement

Support implementation and stabilisation of fund-settlement processes in live environments.

Participate in UAT for new products, system changes, settlement processes and regulatory updates.

Prepare test scenarios, validate results and coordinate resolution of defects.

Work with Technology and Product teams on back-office, settlement, accounting and production issues.

Identify opportunities to automate reconciliations, payouts, reporting and settlement tracking.

Monitor operational SLAs, recurring issues and incidents.

Drive improvements while preserving control effectiveness, segregation of duties and auditability.

Governance, risk and stakeholder management

Operate within HSBC’s risk-management framework, internal policies and approved procedures.

Identify, assess and escalate operational risks, incidents, control weaknesses and potential segregation issues.

Maintain incident logs, root-cause analyses, corrective-action plans and audit trails.

Protect confidential client, financial and business information.

Support business continuity and operational resilience activities.

Maintain effective relationships with Finance, Treasury, Compliance, Risk, Technology, Product, Client Service and Front Office teams.

Coordinate with exchanges, clearing corporations, depositories, banks, asset-management companies, auditors and vendors.

Ensure issues are assigned clearly, followed through and closed with supporting evidence.

Team leadership

Lead day-to-day fund-operations activities and allocate work according to volumes, deadlines, skills and risk.

Review team outputs and ensure that critical controls are completed consistently.

Coach team members on settlement, reconciliation, payment and regulatory processes.

Maintain cross-training and back-up coverage for critical activities.

Set objectives and monitor performance against agreed service levels.

Promote ownership, collaboration, inclusion and continuous improvement.

Support team development and succession planning.

Qualifications and experience

Education

Graduate degree in Commerce, Finance, Business Administration, Accounting or a related discipline.

MBA in Finance or an equivalent qualification preferred.

Experience

Minimum 7 years’ relevant experience in fund operations, stock broking operations, clearing and settlement, treasury, depository operations or back-office accounting.

Experience supervising client-money, exchange-settlement or fund-operation activities.

Strong experience in:

Client pay-in and payout

Exchange obligations and settlement

Treasury and liquidity management

Bank, client-ledger and exchange reconciliations

Operational accounting and month-end closing

Dividend, buy-back and OFS processing

NRI client transactions

GST, TDS and stamp-duty support

Audit and inspection responses

System implementation, UAT or process improvement

Experience working with banks, exchanges, clearing corporations, depositories and auditors.

Certifications

Mandatory: NISM Series VII – Securities Operations and Risk Management.

Preferred: NISM Series VI – Depository Operations; NISM Series VIII – Equity Derivatives; NISM Series XXIV – AML and CFT Provisions.

Technical skills

Strong knowledge of broking back-office, fund settlement and exchange operations.

Understanding of client-fund segregation, clearing, settlement and banking controls.

Strong reconciliation, exception-management and analytical skills.

Knowledge of operational accounting, GST, TDS and statutory processes.

Experience with systems such as Class, LD, TWS, Sun Systems, Tally or equivalent platforms.

Proficiency in Microsoft Excel, Word, PowerPoint and Outlook.

Behavioural competencies

High attention to detail and accuracy.

Ability to work under strict deadlines and settlement cut-offs.

Strong problem-solving and root-cause analysis capability.

Clear written and verbal communication.

Effective stakeholder and vendor management.

Sound judgement when handling confidential information.

Collaborative, accountable and control-conscious approach.

Commitment to ethical conduct, operational resilience and customer outcomes.

Key performance indicators

Client and exchange pay-in and payout completed within agreed timelines.

Settlement obligations met within prescribed cut-offs.

Accurate client-ledger, exchange and accounting postings.

Daily completion of bank, client and exchange reconciliations.

Reduction in aged and recurring reconciliation breaks.

Timely submission of client-fund segregation and regulatory reports.

Accurate and timely MIS and management reporting.

Audit and inspection queries closed within agreed timelines.

Effective management of payment exceptions and incidents.

Successful completion of UAT and process improvements.

Compliance with maker-checker, access and segregation-of-duties controls.

Positive stakeholder and client-service outcomes.

As an employee, you are required to perform your duties in a professional capacity exercising independent judgement, discretion and decision-making authority in planning, organising, directing work, supervising and appraising the work of team members, as applicable; and taking accountability for delivery outcomes. You will represent the organization with relevant internal and external stakeholders. You will allocate and prioritize work, provide direction and feedback, manage team capacity and leave in line with policy as applicable.

• Pro-tip : Familiarity with AI-enabled tools is an advantage.

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Issued by HSBC InvestDirect Securities (India) Private Limited