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