Qualification Profile
Educational Qualifications
Candidate should be a Graduate / Post-Graduate, preferably an MBA/CA/LLB/B.Tech or equivalent from an Institution of Eminence.
Additional certifications such as CFA, FRM or relevant industry credentials will be preferred.
Candidate should be abreast of relevant market developments, regulatory framework, product innovations and technology & Information Security advancements to maintain competitive advantage and market position.
Applicants should be under 60 years of age as on date of application.
Key Competencies & Skills
- Deep understanding of technology, clearing and settlement systems, risk management, information security and financial markets.
- Strong leadership and people management skills.
- High level of integrity and ethical standards.
- Strategic thinking and problem-solving ability.
- Excellent communication and stakeholder management skills.
- Ability to work under regulatory scrutiny and complex market environments
Regulatory Requirements
Experience
Minimum 20 years of relevant experience in the field of capital and/ or commodities market / banking/ financial services/ finance / management of which at least 10 years in Senior Leadership position.
Candidate should have proven experience in driving technology related changes and digital transformation experience.
Candidate should have strong track record in operations, technology, risk management, regulatory compliance and stakeholder engagement.
Job Responsibilities
About MCXCCL
Multi Commodity Exchange Clearing Corporation Limited (MCXCCL) is a wholly owned subsidiary of Multi Commodity Exchange of India Limited (MCX). MCXCCL is recognised as well as regulated Clearing Corporation by Securities and Exchange Board of India (SEBI). MCXCCL started its operations in September 2018 and is the first Clearing Corporation in Commodity derivatives segment to receive the SEBI recognition to act as a Clearing Corporation. MCXCCL has entered into an agreement with MCX to provide Clearing and Settlement services to MCX for various products traded on MCX, which include bullion, energy, metals and agri commodities etc. MCXCCL collects margin from the Members, effects pay-in and pay-out and oversees delivery and settlement process. It assumes the counterparty risk of the Clearing Members for all the trades executed on MCX.
Position Summary
The MD & CEO will serve as the key executive responsible for driving the strategic direction, operational excellence, regulatory compliance, technology transformation and overall growth of MCXCCL. The individual will ensure efficient functioning and effective overseeing of the clearing and settlement, risk management, regulatory ecosystem while maintaining the highest standards of corporate governance and upholding market integrity. The role also requires close engagement with regulators, market participants and MCX.
Key Responsibilities:
Strategic Leadership
Operational Oversight
- Ensure seamless and risk-free clearing and settlement operations.
- Strengthen operational resilience and business continuity framework.
- Oversee the implementation of technology upgrades and modernisation of
infrastructure.
- Strengthen client servicing by actively engaging with market participants.
Risk Management & Compliance
- Ensure robust risk management systems to safeguard the financial system and
manage systemic risk.
- Ensure full compliance with SEBI regulations and other applicable legal and statutory requirements.
- Work with the Chief Risk Officer, Chief Compliance Officer and other internal functions to uphold risk and compliance standards.
Technology
Stakeholder Management
- Collaborate with MCX and be jointly accountable for clearing, technology and
operations for the Exchange and also balance the independent operations of MCXCCL as a Market Infrastructure Institution.
- Maintain strong relationships with the Board of Directors, SEBI, MCX, market
participants, and other ecosystem stakeholders.
- Represent MCXCCL in industry forums, regulatory meetings and public platforms as needed.
Corporate Governance
- Promote a strong governance framework in line with regulatory requirements.
- Ensure transparency in reporting, disclosure and management decision-making.
- Develop and lead a high-performing senior management team with a clear succession plan.
Compensation and Term for the MD and CEO Position
Compensation will be commensurate with Qualifications, Experience and will be in-line with the Industry Standards. However, the Appointment, Terms & Conditions and Remuneration shall be subject to the approval from Shareholders of MCXCCL and SEBI. The appointment shall be for a term not exceeding five (5) years and can be renewed in accordance with the SECC Regulations, 2018 subject to performance review by Nomination and Renumeration Committee/ Board of Directors and approval of SEBI.
Application Process
Interested candidates may submit their detailed resume and a cover letter outlining their suitability for the role to [email protected]
