AVP Operations

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Role purpose

The Assistant Vice President – Fund Operations will manage end-to-end fund and broking operations, including client pay-in and payout, exchange clearing and settlement, treasury, banking, reconciliations, operational accounting, regulatory reporting, audit support and process improvement.

The role will ensure accurate and timely processing of client and firm funds, exchange obligations and settlement activities while maintaining strong controls, appropriate segregation of duties and compliance with applicable SEBI, exchange, clearing corporation, depository and internal requirements.

Key responsibilities

Fund settlement and client operations

Manage daily client fund pay-in and payout activities across applicable products and segments.

Process client transfers through NEFT, RTGS, CMS and other approved channels within prescribed cut-off times.

Validate payment instructions, approvals, beneficiary details and supporting documentation.

Post transactions accurately to client ledgers and operational systems.

Monitor and resolve rejected, returned, delayed or failed payments.

Process monthly and quarterly settlement payouts from preparation through approval and release.

Support client transactions including dividend payments, buy-back, OFS, margin movements and NRI client pay-in and payout.

Ensure appropriate segregation and utilisation of client funds.

Maintain maker-checker evidence, payment records and audit trails.

Resolve operational queries relating to fund transfers, payouts, demat charges, account opening, penalties and settlement status.

Exchange clearing and settlement

Prepare daily exchange obligations and arrange funds for timely pay-in and settlement.

Manage exchange pay-in, payout and settlement activities across relevant segments.

Post exchange obligation entries in the appropriate segment and accounting systems.

Monitor exchange calendars, settlement timelines and payment cut-offs.

Coordinate with Treasury, Finance, banks, exchanges and clearing corporations to meet obligations.

Investigate shortages, unmatched items, failed payments and delayed confirmations.

Maintain settlement trackers, exception logs and escalation reports.

Support margin and exchange requirements, including appropriate use of available funds and fixed deposits.

Prepare or review weekly bank-balance submissions and weekly/monthly SEBI and exchange reports.

Treasury and banking operations

Support treasury activities covering funding, disbursements, investments, concentration and inter-account transfers.

Review daily cash and bank positions across client, settlement, operational and firm accounts.

Arrange funding based on exchange obligations, client payouts and business requirements.

Coordinate with bank relationship managers on payment issues, confirmations and account matters.

Support investment of surplus funds in approved instruments, including mutual funds and fixed deposits where permitted.

Maintain accurate records of investments, redemptions, transfers and funding transactions.

Process vendor, exchange, clearing corporation, depository and service-provider payments through approved channels.

Monitor unusual, unauthorised or delayed fund movements and escalate promptly.

Reconciliations and financial controls

Oversee daily reconciliations for client and settlement bank accounts, firm accounts, client ledgers, exchanges, depositories, mutual funds and dividends.

Investigate reconciliation breaks, identify root causes and complete corrective action within agreed timelines.

Escalate aged or recurring breaks through the appropriate governance channels.

Validate bank entries, charges, interest, reversals, unidentified receipts and payment confirmations.

Post correction entries in accordance with approved procedures.

Perform AMC-wise mutual fund accounting and reconciliation where applicable.

Reconcile dividend records, payments and client ledger postings.

Maintain accurate daily, weekly and monthly reconciliation summaries.

Ensure effective maker-checker, access and segregation-of-duties controls.

Accounting, tax and management reporting

Ensure accurate posting of client receipts, payouts, exchange obligations, bank transactions and settlement entries.

Reconcile operational records to general ledger and accounting systems.

Support month-end closing, accruals, provisions, trial balances, income statements and balance-sheet schedules.

Prepare or review expense reconciliations, prepaid expenses, vendor payment schedules, debit notes, credit notes, fixed-asset records and group-company workings.

Support accounts payable, accounts receivable, employee reimbursements, payroll-related payments and petty cash.

Prepare daily, weekly and monthly MIS covering settlement, liquidity, reconciliations, payouts and exceptions.

Support preparation of GST, TDS and stamp-duty data.

Arrange TDS payments and support quarterly TDS return filing.

Coordinate TDS refund claims with exchanges and maintain follow-up records.

Validate vendor invoices and investigate higher-than-expected charges.

Regulatory reporting and audit

Prepare daily client-fund segregation reports accurately and within prescribed timelines.

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