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Job Summary The Head of Risk Management Services (RMS) is a strategic leadership role responsible for overseeing and managing the risk management framework within the stock broking division. This position ensures the firm’s market, credit, and operational risks are effectively monitored and mitigated in compliance with regulatory requirements. The ideal candidate will possess a deep understanding of risk management, a proactive approach to process improvement, and strong leadership skills to guide the RMS team.Operational Excellence Monitor clients’ and company’s Equity and Derivatives Portfolio risk on a real-time basis. Implement automated systems for continuous surveillance of market positions and collateral status. Manage daily RMS activities, including tracking and monitoring positions in the Cash Market (CM), Futures and Options (F&O), and Currency Derivatives (CDS) segments. Ensure all risk management operations are carried out efficiently and effectively. Coordinate with exchanges, OMS vendors, and the technology team to resolve critical issues. Follow up on Root Cause Analysis (RCA) and collaborate with front office vendors to resolve bugs. Maintain expertise on platforms like OmneNest, NEAT, BOLT, and NOW. Have knowledge of Margin Trading Facility (MTF). Track and monitor the expiry of NISM certifications for dealers, ensuring timely renewals to avoid exchange penalties or trading terminal disablement. Compliance Excellence Maintain a stronghold on regulatory circulars (NSE, BSE, MCX, and SEBI). Stay updated on all relevant circulars on a timely basis, generate reports, and provide feedback and suggestions to management. Identify margin shortfalls and initiate prompt liquidation of positions to manage risk. Coordinate with clearing members or clearing corporations to monitor daily deposits, margins, and collaterals. Develop reports on defaulters or sundry creditors and coordinate with the recovery team. Validate responses to client complaints to ensure minimal regulatory impact. Process Transformation Develop various risk models on Equity, Commodity, and Currency derivative products. Utilize strong knowledge of VAR, SPAN, Scrip volatility, future forecasting models, and regulatory surveillance models. Develop internal policies and risk policies to safeguard clients’ and company’s funds. Coordinate with the operational team to mitigate overall risk involved in financial products. Actively participate in new product implementation and risk management. Continuously improve RMS processes and establish best practices for risk management. Job Requirement Qualifications: - Bachelor’s degree in Finance, Economics, Business Administration, or a related field. A Master’s degree or professional certifications (e.g., CFA, FRM) are highly desirable. - Minimum of 8 years of experience in risk management within the stock broking or financial services industry. - Strong understanding of market risk, credit risk, and operational risk specific to stock broking. - Comprehensive knowledge of regulatory requirements and industry best practices. - Excellent analytical, problem-solving, and decision-making skills. - Proven leadership and team management capabilities. - Exceptional communication and interpersonal skills. Competencies: - Strategic Vision: Ability to align risk management strategies with the organization’s goals. - Proactive Approach: Anticipate potential risks and implement preventive measures. - Decision-Making: Make informed decisions based on comprehensive risk assessments. - Leadership: Lead and inspire the RMS team to achieve high performance and foster a culture of continuous improvement. Show more Show less
