•            Role: Senior Manager – Enforcement

•            Function: Compliance

•            Reporting To (Functional): Chief Manager – Enforcement

•            Reporting To (Administrative): Head – Compliance & Chief Regulatory Officer

Purpose of the Role

To lead and oversee the enforcement framework of NSE Clearing, ensuring timely and effective regulatory actions against clearing members for non-compliances identified through inspections, surveillance, audits, regulatory reviews, and internal monitoring mechanisms.

The role is responsible for driving regulatory governance, managing enforcement and disciplinary proceedings, overseeing grievance redressal mechanisms, strengthening penalty frameworks, engaging with regulators and external stakeholders, and ensuring adherence to applicable regulatory requirements. The position also contributes to policy formulation, process enhancements, automation initiatives, and strategic compliance objectives of the organization.

Key Responsibilities

1. Enforcement Governance & Regulatory Actions

• Lead the end-to-end enforcement lifecycle arising from inspections, audits, surveillance findings, and regulatory observations.

• Review material non-compliance cases and determine appropriate enforcement actions in line with regulatory requirements and internal frameworks.

• Ensure consistency, fairness, and transparency in enforcement decisions.

• Provide recommendations to relevant authorities and committees on disciplinary matters.

• Monitor effectiveness of enforcement actions and recommend improvements to strengthen regulatory compliance.

2. Regulatory Compliance & Stakeholder Management

• Act as a key interface with regulatory authorities, including SEBI, on enforcement-related matters.

• Ensure timely submission of regulatory reports, responses, disclosures, and information requests.

• Represent the department during regulatory inspections, audits, and reviews.

• Interpret regulatory developments and assess their impact on existing enforcement mechanisms.

3. Grievance Redressal & Investor Protection

• Oversee the SCORES grievance redressal framework and ensure compliance with regulatory timelines.

• Monitor trends in complaints and identify systemic issues requiring corrective action.

• Present grievance analytics and regulatory updates to management and relevant committees.

• Drive continuous improvement in investor grievance handling processes.

4. Penalty & Disciplinary Framework Management

• Govern the review and enhancement of the penalty framework to ensure alignment with evolving regulations and market practices.

• Benchmark enforcement and disciplinary practices across market infrastructure institutions and industry participants.

• Evaluate exceptional cases and provide recommendations on penalty reviews and waivers where applicable.

• Ensure robust documentation and governance around disciplinary proceedings.

5. Committee & Governance Support

• Provide strategic inputs to enforcement-related committees and governance forums.

• Review and approve agendas, notes, presentations, and minutes pertaining to enforcement matters.

• Ensure effective tracking and closure of committee decisions and action items.

• Support senior management with insights and recommendations on critical enforcement matters.

6. Process Excellence & Transformation

• Identify opportunities for process optimization, digitization, and automation within enforcement and grievance management functions.

• Drive initiatives aimed at improving operational efficiency, turnaround times, and regulatory compliance.

• Develop and implement standard operating procedures, control frameworks, and governance mechanisms.

• Foster a culture of continuous improvement and operational excellence.

7. Team Leadership & Capability Building

• Provide guidance, mentorship, and oversight to team members handling enforcement and grievance-related activities.

• Ensure effective workload management, performance monitoring, and capability development within the team.

• Promote knowledge sharing and awareness of regulatory developments and enforcement practices.

• Drive a high-performance and compliance-focused culture.

Key Performance Indicators (KPIs)

Regulatory & Compliance

• Timely closure of enforcement cases within prescribed timelines.

• Compliance with SEBI and internal regulatory requirements.

• Zero adverse regulatory observations attributable to enforcement processes.

Operational Excellence

• Adherence to internal and regulatory turnaround times.

• Reduction in processing delays and operational risks.

• Successful implementation of automation and process enhancement initiatives.

Governance & Stakeholder Management

• Effectiveness of committee support and governance processes.

• Quality and timeliness of regulatory submissions.

• Positive feedback from internal and external stakeholders.

People & Development

• Team capability enhancement and succession readiness.

• Knowledge management and regulatory awareness initiatives.

• Achievement of departmental objectives and strategic goals.

Stakeholders

Internal

• Compliance

• Operations

• Risk Management

• Legal

• Inspection & Surveillance Teams

• Collateral Management

• Internal Audit

• Senior Management Committees

External

• SEBI

• Clearing Members

• Market Infrastructure Institutions (MIIs)

• Depositories

• External Auditors

• Regulatory and Industry Bodies

Candidate Profile

Educational Qualifications

Essential

• CA / CS / MBA (Finance) / Equivalent Professional Qualification

Preferred

• Additional certifications in Securities Markets, Compliance, Risk Management, or Regulatory Affairs.

Experience

12–15 years of relevant experience in:

• Regulatory Compliance

• Enforcement & Disciplinary Frameworks

• Capital Markets / Securities Market Operations

• Regulatory Affairs within MIIs, Exchanges, Clearing Corporations, Depositories, or Financial Institutions

Critical Competencies

• Regulatory Interpretation & Governance

• Capital Market Knowledge

• Strategic Thinking

• Stakeholder Management

• Policy Formulation

• Risk Assessment

• Analytical & Decision-Making Skills

• Executive Communication & Drafting

• Leadership & Team Development

• Committee and Board-Level Presentation Skills