AM - Inspection & Compliance at A Stock Exchange Major, Kurla Mumbai,

  • 0 - 2 Years
  • Not Mentioned
  • permanent
  • Chartered Accountant
  • Role Title Asst. Manager – Inspection and Compliance

    Function Inspection and Compliance

    Reports to – Functionally Manager – Inspection and Compliance

    Reports to – Administratively Manager - Inspection and Compliance

    Direct Reporting From N/A


    I. Purpose of the role:

    To ensure that trading members/ stock brokers adhere to the regulatory norms by conducting onsite inspection, verification of member submission of required documents and audit reports and follows up with members for the same. To initiate action by sending penalty notes to defaulting members and initiating ICMA meetings for deciding their cases.

    Key Responsibility Descriptive Parameters

    Quarterly selection of members for inspection visits

    1. Collate exchange data to assess risk and categorize members into different buckets.

    2. Prioritize members, and prepare quarterly inspection calendar/schedule as per selection criteria approved by Exchange/SEBI.

    3. Draft approval note and share inspection dates with respective regional inspection teams.

    4. Co-ordinate for visit date to member office and prepare the intimation letter to member.


    Onsite inspection/ compliance visits

    1. Conduct inspection on members’ site as per the inspection calendar for the quarter following a pre-approved checklist.

    2. Draft the inspection report for the member.

    3. Expand the scope of inspection beyond the pre-approved checklist after consulting manager.

    4. Prepare the preliminary observation sheet for the inspection and schedule the closure meeting between the member and manager

    5. Verify the inspection report prepared by the maker (another AM).

    6. Conduct compliance visits for new members/ brokers to acquaint them to the compliance requirements and inspection process.

    7. Escalate matters like non co-operation of member/delay in furnishing data to the respective Manager


    Post inspection activities

    1. Collect feedback from members of all regions on the inspection visits conducted.

    2. Send the letter of observation to the member after the inspection report is approved internally and follow up with member for reply.

    3. Follow up through telephone/email/reminder letter for seeking reply to letter of observation issued. Escalate non-compliant members to Manager


    Activities post member reply to the letter of observation

    1. Prepare the reply analysis note after receiving the members’ reply.

    2. Schedule ICMA (Internal Committee for Minor Action) meeting, as per convenience of members, prepare the agenda for the meeting, and carry out administrative arrangements for the same.

    3. Present the case of the member and preparation of draft minutes of Committee meeting.

    4. Coordinate for organizing of the Disciplinary Action Committee (DAC), as per requirement.

    5. Draft and send the action intimation letter to the member communicating the monetary penalty imposed / interim direction provided/ warning given to the member after finalisation of minutes of the committee meetings.

    6. Prepare review analysis note if a member requests for review of the decision taken by committee meetings.


    Member compliance to regulatory norms and audit

    1. Draft circulars for members for submission of required documents to adhere to regulatory norms.

    2. Prepare circulars to be sent to members informing them about new or changes in regulatory requirement

    3. Analyse the internal audit reports submitted by members to the exchange. Prepare the agenda and present the case of members defaulting on providing correct audit reports to the exchange.

    4. Analyse the annual returns, half yearly net-worth, insurance receipts submitted by member and initiate appropriate action.

    5. Send reminders via emails/ letters/ phone calls to non-complaint members.

    6. Prepare and send the penalty note for non-compliant members.

    7. Check SEBI website to know if any member has been debarred from trading and initiate action on the same.

    8. Verify the application provided by members for issuance of advertisements

    9. Prepare penalty intimation letter to member for non-compliances.

    10. Updation of compliance calendar, consolidated circular, commonly observed violations during inspections/internal audit.

    11. Process the margin trading and client funding files received from member

    12.Reply to member queries through phone calls/emails.

    13.Prepare the internal office memo for debiting member’s account for non-compliances/violations observed during inspection

    14.Draft the approval note for granting permission by member to trade with another member

    15.Prepare the approval note for blocking of deposit in case of shortfall in net-worth of member.

    16.Issue NOC’s to \ membership certificate and status report to other departments.


    Data collation and analysis for daily reports and adhoc requests

    1. Collate data to cater to the request raised by external regulators like SEBI and various internal departments within NSE.

    2. Collate and analyse data from other exchanges and internal NSE departments for Monthly Development report, Monthly Activity report, SEBI annual/ half yearly report to be sent to SEBI.

    3. Collation of data to be displayed on website as regards action initiated against member



Employer Profile :

  • A Stock Exchange Major, Kurla Mumbai,