The Primary responsibility of the role is to be responsible and ensure timely initiation of disciplinary proceedings against the Clearing Member and to ensure that the interna land external TAT is compiled with for all the functions/duties performed under the Role. The role and responsibilities interalia include timely processing of all Inspection Reports within the specified TATs, ensure the correctness of the Letter of Observation (LO), Reply Analysis of the response received from Members, the verification of the facts and figures mentioned in the Show Cause Notices, Verification of other internal process followed for placing the matter before the relevant Committee.

Some of the internal tasks include collation and finalization of data asked by SEBI, auditor and other department. Identify the database related issues and get the same fixed after co-ordinating with IT. Raising IOM for collection of penalty, verification of draft minutes/orders of the Committee meetings, Intimation of penalties to be collected from members to the accounts department.

Key Responsibilities (This should reflect the process/sub-process in which the position plays a role and specifically indicate the actions to be taken. Please include a maximum of 7 key responsibilities)

A. Post Inspection – Enforcement Activities

1.           Send the letter of observation to the members after the inspection report is approved internally (for onsite and offsite inspection).

2.           Prepare the enforcement summary note after receiving the members reply.

3.           Issuance of Show Cause Notices to members for critical inspection observations

4.           Coordination with members for reply and clarifications and escalations in case of non- submissions

5.           Present the case of the member before the Relevant Authority (i.e. the Member Committee i.e. MC)

6.             Coordinate for organizing of the MC meeting, as per requirement and prepare the Notice, Agenda and minutes of the meeting

B. Closure of Enforcement: 

1.         Send the action intimation letter to the members communicating the monetary penalty imposed / interim direction provided/ warning given to the members after finalization of          minutes.

2.          For matters related to SCN, prepare draft speaking order in a lucid manner by capturing all the critical matters related to enforcement.

3.          Liaison with various internal stakeholders like Legal Department for their feedback of various documents, Finance & Accounts for penalty collection etc.

4.          Testing of internal systems.

5.          Handling penalty review and appeal cases.

C. Other activities:

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

2.          Review penalty framework in comparison with other Market Infrastructure Institutions (MIIs).

3.           Manage grievance redressal mechanism.

D. Report Generation:

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

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

3.           Initiate process upgradation requirements as necessitated by change in regulatory framework.

E. External Interface: 

1.          Submission of various reports/data/information to stakeholders with TAT.

2.          Interacting with Regulator - SEBI for enforcement compliance related matters.

3.          Ensuring adherence to the timelines fixed in regulatory matters.

4.           Assisting in Inspection by Regulator and External Agencies.

    

Note: The principal responsibilities listed above are an illustrative list and not an exhaustive list. Additional responsibilities may be added from time to time depending on organisational requirements.

Role Holder Requirements:

A. Educational Qualifications:

Essential – CA and/or CS degree/NISM background

Desired – NA

B. Role Requirements:

•      Knowledge of financial and capital markets.

•      Knowledge of functional requirements applicable to securities markets.

•       Excellent analytical skills.

C. Experience:

Essential – minimum 2 years of experience.

Desired – Relevant working experience in securities market.

Work experience in Regulatory departments of MIIs would be preferred.