Head Operations

Role: Operations Head

Entity: Ashika Stock Services Ltd.

Job Location: Trinity Towers, AJC Bose Road, Kolkata 700020

Experience: 12 - 18 years in Stock Broking Operations

About Us:

With over 31 years of trust and industry expertise, Ashika Stock Services Ltd. is a SEBI-registered stockbroker
and a proud member of all major Indian exchanges, including NSE, BSE, MCX, NCDEX, and MSEI. We are also
registered as a depository participant with CDSL and NSDL, a SEBI-registered Research Analyst, and an AMFI-
certified mutual fund distributor. Headquartered in Kolkata with a strong operational presence in Mumbai, our
dedicated team of nearly 300 professionals is committed to delivering dependable, client-focused financial
solutions across a broad spectrum of investment needs. Our digital platform, Dhanush, is designed to simplify
and enhance investment experiences, helping clients manage and grow their wealth with ease.

Role Brief:

We are looking for an experienced and strategic operations leader to manage the end-to-end operational
framework of the broking business, covering Risk Management & RMS, Back Office & Settlement,
Depository/DP Operations, Banking & Payments, Exchange & Clearing Operations, Regulatory Operations and
Client Operations.The role will be responsible for ensuring strong risk controls, operational efficiency,
regulatory compliance, seamless trade-to-settlement processes and a high-quality client experience across all
business segments.The position will work closely with Technology, Product, Finance, Compliance, Customer
Service, exchanges, clearing corporations, depositories, banks and technology partners to drive automation,
strengthen controls and build scalable, reliable operational processes.
Role Responsibilities:

Risk Management & RMS

Own the overall Risk Management framework for the broking business.
Oversee RMS operations covering pre-trade, intra-day and post-trade risk management.
Establish and monitor client-wise and segment-wise exposure, margin and risk limits.
Oversee management of MTF, F&O, intraday, pledged securities and other leveraged products.
Ensure effective monitoring of margin shortfalls, peak margin requirements, collateral and client
exposures.
Develop appropriate risk limits, escalation matrices and exception management processes.
Work closely with Technology and RMS vendors to ensure accuracy, stability and real-time risk
monitoring.
Ensure robust contingency and disaster-recovery procedures for critical risk systems.

Back Office & Settlement Operations

Oversee the complete trade-to-settlement lifecycle across Equity, Derivatives, Currency and other
applicable segments.
Lead Back Office operations including trade processing, contract note, ledger management, pay-in /
pay-out, settlement, corporate actions, reconciliation, client reporting, P&L and taxation reports
Ensure timely and accurate reconciliation between exchanges, clearing corporations, banks,
depositories and internal systems.
Drive automation and reduction of manual operational processes.
Establish strong maker-checker and operational control mechanisms.

Depository / DP Operations
Oversee the Depository Participant operations across CDSL/NSDL.
Ensure efficient processing of demat account opening, rematerialisation / dematerialization, transfers
pledge / unpledged, DDPI, corporate actions, transmission Account closure
Ensure adherence to depository and regulatory requirements.
Monitor DP reconciliations and operational exceptions.
Improve turnaround times and client experience across DP services.

Banking & Payments

Own the operational relationship with banking partners supporting the broking business.
Oversee client fund movement, pay-in/pay-out and settlement-related banking operations.
Ensure timely reconciliation of client funds, bank balances and settlement obligations.
Manage processes around UPI, payment gateways, e-mandates and other payment infrastructure.
Ensure strong controls around client funds and segregation requirements.
Work with Finance and Compliance to ensure regulatory adherence and accurate reporting.

Exchange & Clearing Operations

Oversee operational relationships with NSE, BSE, MCX/other relevant exchanges, clearing Corporations,
CDSL, NSDL
Ensure smooth functioning of exchange connectivity, clearing and settlement processes.
Coordinate resolution of operational issues, exchange queries and settlement exceptions.
Ensure preparedness for new exchange/regulatory requirements and circular implementations.

Regulatory & Operational Compliance

Work closely with the Compliance and Legal teams to ensure operational adherence to SEBI, exchange,
clearing corporation and depository regulations.
Ensure timely implementation of regulatory circulars impacting operations.
Establish robust SOPs, controls and audit trails.
Coordinate internal, statutory, exchange, SEBI and depository audits from an operations perspective.
Ensure timely closure of audit observations and operational gaps.

Client Operations & Service Delivery

Oversee operational aspects of the entire client lifecycle, including cccount opening, KYC / Re-KYC,
activation, trading operations, funds, demat, settlements, account closure.
Improve operational TATs and reduce client complaints and escalations.
Build effective escalation mechanisms for high-value and critical client issues.
Work with Customer Service, Product and Technology teams to improve client journeys.

Technology & Systems

Partner closely with the CTO/CIO/Product teams to ensure that operational systems are scalable and
reliable.
Oversee critical systems including OMS, RMS, Back Office, DP systems, Reconciliation systems, Payment
systems and client onboarding systems.
Drive automation and straight-through processing across operations.
Identify operational technology gaps and work with technology teams/vendors to resolve them.
Ensure appropriate system controls, audit trails and business continuity.

Vendor & Partner Management

Manage key operational vendors and technology partners across RMS, OMS, Back Office, DP, payments
and other infrastructure.
Negotiate SLAs and ensure adherence to agreed service levels.
Drive vendor performance reviews and escalation mechanisms.
Evaluate and onboard new vendors where required

Role Requirements:

12 to18 years of relevant experience in Broking Operations, Risk Management, RMS, Settlements or
Capital Markets Operations, with significant leadership experience.
Strong understanding of the Indian broking ecosystem across Equity, Derivatives, Currency and other
relevant segments.
Proven experience managing RMS and risk controls, including exposure limits, margins, collateral, peak
margin, MTF, F&O, intraday and pledged securities.
Strong experience in Back Office and Settlement Operations, covering trade processing, contract notes,
ledgers, pay-in/pay-out, reconciliation, corporate actions, P&L and taxation reporting.
Hands-on understanding of CDSL/NSDL DP operations, including demat, remat, transfers,
pledge/unpledge, DDPI, corporate actions, transmission and account closure.
Strong understanding of client fund management, banking operations, UPI, payment gateways and e-
mandates in a broking environment.
Experience managing operational relationships with NSE, BSE, MCX, clearing corporations, CDSL and
NSDL.
Strong knowledge of SEBI, exchange, clearing corporation and depository regulations, circular
implementation, audits and operational controls.
Experience in managing OMS, RMS, Back Office, DP, reconciliation, payment and client onboarding
systems, with the ability to work closely with Technology/Product teams.
Proven ability to drive automation, STP, process improvement and reduction of manual operational
activities.
Strong experience in vendor and technology partner management, including SLA management,
performance reviews and escalations.
Excellent understanding of operational risk, controls, SOPs, maker-checker processes, audit trails, BCP
and disaster recovery.
Strong leadership, stakeholder management, problem-solving and escalation management skills.
Ability to build and lead large, cross-functional operations teams and establish a culture of
accountability, accuracy and control.

Candidates from stockbroking firms, capital market institutions, wealth platforms or similar financial
services businesses would be preferred.