DM-Clearing at Stock Exchange Major, Mumbai

  • 1 - 3 Years
  • Not Mentioned
  • mumbai
  • permanent
  • Chartered Accountant,MBA
  • Purpose of the Role:

    To ensure that clearing members adhere to the regulatory norms by conducting onsite inspection, verification of member submission and audit reports and follow up with members for the same. To initiate action for levying of penalty on members and presenting cases in ICMA/DAC meetings for decisions w.r.t inspections conducted.


    Key Responsibilities:

    Quarterly selection of members for inspection visits 

    1. Collate 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 with RO’s for visit date to member office and prepare the intimation letter to members.


    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 members.

    3. Expand the scope of inspection beyond the pre-approved checklist if required.

    4. Prepare the preliminary observation sheet for the inspection and schedule the closure meeting with the members

    5. Escalate matters like non co-operation of member/delay in furnishing data.


    Post inspection activities / Activities post member reply to the letter of observation

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

    2. Prepare the reply analysis note after receiving the members reply.

    3. Present the case of the member in the ICMA (Internal Committee for Minor Action) meeting

    4. Coordinate for organizing of the Disciplinary Action Committee (DAC) meeting, as per requirement and prepare the Notice, Agenda and minutes of the meeting

    5. Send the action intimation letter to the members communicating the monetary penalty imposed / interim direction provided/ warning given to the members after finalisation of minutes of the committee meetings


    Other Inspection Activities

    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/changes in regulatory requirement and Member Defaults/Expulsion/Cessation of membership.

    3. Analyse the annual returns, half yearly net-worth submitted by clearing members and initiate appropriate action.

    4. Reply to members queries through phone calls/emails.

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

    6. Collation of data to be displayed on website as regards action initiated against members

    7. Interfacing with internal departments for the purpose of collection of information for generating reports on inspection related matters, facilitating regulatory queries resolution, etc.

    8. Preparing the various internal MIS reports and other reports / submissions pertaining to compliance under the SEBI Regulations.


    External Interface

    1. Interfacing with regulators including SEBI in Inspection related matters.

    2. Ensuring adherence to the timelines fixed in regulatory matters, facilitating the conduct of statutory committee meetings viz. sending notices to the members, conducting meetings, preparing agendas and minutes of such committee meetings.



Employer Profile :

  • Stock Exchange Major, mumbai