1. Trade Settlement Management:
o Ensure accurate and timely settlement of trades in accordance with exchange (NSE, BSE, MCX) and regulatory guidelines.
o Manage and oversee the settlement of both equity and derivatives trades, coordinating with clearing corporations, depositories, and custodians.
o Reconcile trade confirmations and clearing data to ensure all trades are settled within the specified deadlines.
2. Funds and Securities Management:
o Manage the flow of funds and securities for settlements, ensuring that the firm’s obligations are met on time.
o Ensure clients' securities are credited or debited in accordance with the trade settlement instructions.
o Monitor and manage daily margin requirements and ensure the firm’s liquidity is maintained for smooth settlement operations.
3. Reconciliation and Discrepancy Resolution:
o Conduct daily reconciliation of settlement accounts, ensuring accurate tracking of client funds, broker funds, and securities.
o 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:
o Ensure all settlement operations comply with SEBI, stock exchange, and depository regulations.
o Maintain accurate records of settlements, reconciliations, and client transactions for audit purposes.
o Stay updated on changes in settlement rules and implement necessary changes to internal processes.
5. Client Management:
o Liaise with clients to provide updates on settlement processes, address queries, and resolve any settlement-related issues.
o Ensure a smooth flow of communication with clients, brokers, and counterparties during the settlement process.
o Provide clients with timely reports on settlements, reconciliations, and any issues that may arise during the post-trade process.
6. System and Process Optimization:
o Implement and oversee the use of settlement systems and tools to automate and streamline settlement operations.
o Identify opportunities to improve the efficiency and accuracy of the settlement process.
o Ensure that the firm's back-office systems are up-to-date and capable of handling high volumes of transactions with minimal errors.
7. Risk Management:
o Collaborate with the risk management team to monitor and manage settlement risks, such as liquidity shortages, margin calls, or default risks.
o Ensure the firm’s risk exposure in the settlement process is minimized by setting up proper checks and controls.
8. Reporting & Analytics:
o Prepare daily, weekly, and monthly settlement reports, tracking settlement performance, discrepancies, and compliance with regulations.
o Provide senior management with regular updates on settlement processes, challenges, and areas for improvement.
o Track settlement KPIs and ensure alignment with company goals and client satisfaction standards.
9. Stakeholder Collaboration:
o Work closely with internal departments such as Trading, Risk, Compliance, and Finance to ensure seamless post-trade processes.
o Establish and maintain relationships with external stakeholders such as clearing corporations, depositories (NSDL/CDSL), custodians, and banks to facilitate the settlement process.