Compliance Officer – Stock Broking

Job Title: Compliance Officer – Stock Broking & Depository Participant

Department:
Compliance

Reports To:
Senior Manager

Location:
Vadodara, Surat, Ahmedabad & Rajkot

Purpose of the Role:

To ensure the company's complete adherence to all regulatory and statutory requirements prescribed by SEBI, Stock Exchanges (NSE, BSE), Depositories (CDSL), and other applicable regulators. The Compliance Officer serves as a bridge between the company and regulators and plays a critical role in risk mitigation, compliance reporting, and ethical governance.

Key Responsibilities:

1. Regulatory Compliance & Reporting:

• Ensure full compliance with SEBI, NSE, BSE, CDSL, and PMLA guidelines.
• Monitor daily operations and reporting to ensure adherence to all circulars and directives from regulatory bodies.
• File periodic regulatory reports such as:
• SEBI Monthly/Quarterly/Annual reports (e.g., CIR/MIRSD/...)
• Relevant Exchange's surveillance and compliance reports.
• Depository participant audit reports, transaction reports, reconciliation statements, etc.

2. Compliance with SEBI Stock Broker and DP Regulations:

• Maintain and update internal policies in accordance with SEBI Stock Broker & DP Regulations.
• Monitor and supervise activities related to:
• Client onboarding (KYC, In-person verification, IPV)
• Risk profiling
• PMLA checks and AML procedures.
• Ensure due diligence and timely update of KRA/CKYC records.

3. Surveillance and Risk Management:

• Monitor client trades and activities for any suspicious or manipulative behaviour.
• Track alerts on insider trading, front running, circular trading, etc., and escalate them appropriately.
• Respond to Exchange or SEBI queries on surveillance issues and client activities.
• Liaison with RMS Team for Setting up daily limits of clients

4. Internal Audits, Inspections, and Reviews:

• Facilitate and coordinate half-yearly internal audits as mandated for Brokers and DPs.
• Conduct mock inspections and compliance testing across all departments.
• Prepare for and coordinate regulatory inspections (SEBI, Exchanges, Depositories).
• Ensure timely resolution of audit and inspection observations.

5. Documentation and Record Keeping:

• Maintain statutory registers, records, and communication logs as per regulatory requirements.
• Ensure retention and security of client documentation, logs, and transaction records.
• Maintain logs of regulatory circulars and implementation records.

6. Client Compliance & Grievance Redressal:

• Ensure proper mechanism for handling and tracking investor complaints.
• Respond to client complaints on SCORES (SEBI Complaint Redressal System) within timelines.
• Maintain grievance registers and generate reports as needed.

7. Training & Awareness:

• Conduct regular compliance training for employees across departments.
• Disseminate regulatory circulars and internal SOPs to concerned stakeholders.
• Ensure functional understanding of compliance obligations by all staff.

8. Reporting to Board & Management:

• Submit compliance reports and risk summaries to the Board of Directors and Compliance Committees.
• Update management on changes in regulatory frameworks and their impact on business processes.

9. Business Process Compliance:

• Monitor and validate client fund segregation, margin collection, and payout processes.
• Ensure fair pricing and transparency in brokerage, DP charges, and service offerings.
• Ensure systems and process compliance with cybersecurity frameworks for market intermediaries.
• Allocation of client's funds to clearing Corporation

10. Liaison with Regulators:

• Act as point of contact with SEBI, Exchanges, Depositories for all compliance and regulatory matters.
• Ensure timely responses to show cause notices, clarifications, and regulatory correspondence.

Key Skills & Qualifications:

Educational Qualification:

• Graduate/Postgraduate in Commerce, Law, or Finance.
• Preferred: LLB /MBA Finance / Certified Compliance Professional

Experience: Minimum

• 5–8 years in compliance roles within Stock Broking / DP operations.

Technical & Functional Skills:

• Strong understanding of SEBI (LODR, SCRA, DP Regulations)
• Familiarity with NSE/BSE systems, CDSL platforms (e.g., DPM/IDEAS/CDAS)
• Knowledge of PMLA, AML/CFT, and FATCA guidelines
• Proficiency in compliance software/tools, SCORES portal

Behavioural Skills:

• High integrity and ethical conduct
• Attention to detail
• Excellent communication (verbal and written)
• Strong analytical and problem-solving skills

Regulatory Mandates:

• Must be designated as Compliance Officer as per SEBI regulations and report under SEBI (Stock Broker) Regulations and SEBI (DP) Regulations.
• Must not be engaged in any sales, marketing, or trading activity to maintain independence.