Assistant Vice President DP Operations

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Within International Wealth and Premier Banking (IWPB), we serve 41 million customers globally, including 6.7 million who are international, from retail customers to ultra high net worth individuals and their families. We help our customers to take care of their day-to-day finances and to manage, protect and grow their wealth. Our international network and breadth of expertise enable us to deliver on HSBC’s purpose of opening up a world of opportunity by providing our customers with borderless banking and world-class wealth management through best-in-class, mobile-first capabilities and exceptional people. Our key areas of operations include Retail Banking and Wealth Management, Asset Management, Global Private Banking and Insurance.

Wealth and Personal Banking serves more than 50 million customers worldwide with a complete range of banking and wealth management services to enable them to manage their finances and protect and build their financial futures. It is a global business that brings together management responsibility for Retail Banking, Wealth Management, Insurance and Asset Management with a focus on customer-centric propositions and innovative and efficient distribution channels.

Job Title 

Assistant Vice President – DP Operations

International Wealth & Personal Banking / Global Banking & Markets

[Mumbai India]

GCB 6

Job Introduction

The DP Operations role is responsible for managing end-to-end depository services in alignment with regulatory frameworks and internal risk controls. The role ensures seamless execution of demat account operations, settlement processes, and customer servicing while maintaining strict compliance with guidelines issued by SEBI, NSDL, and CDSL.

The incumbent will play a critical role in driving operational efficiency, minimizing risk, supporting audits, and enhancing customer experience across retail and institutional DP services.

Principal Responsibilities

• Oversee account opening, modification, and closure of demat accounts in line with regulatory requirements

Ensure accurate and timely processing of:

Dematerialization requests (DRF / RRF)

Delivery Instruction Slips (DIS)

Pledge / un-pledge / invocation requests

Off-market and inter-depository transfers

Monitor settlement cycles and ensure timely reconciliation with depositories and clearing corporations

• Ensure adherence to all applicable regulations issued by SEBI, NSDL, and CDSL

Track regulatory circulars and implement required changes within defined timelines

Ensure compliance with KYC / AML guidelines and periodic account reviews

• Identify operational risks and implement robust maker-checker controls

Monitor exceptions, failed transactions, and client grievances; ensure timely resolution,

Strengthen controls around DIS usage, fraud prevention, and unauthorized transactions

• Manage internal, concurrent, and regulatory audits related to DP operations

Ensure closure of audit observations within stipulated timelines

Prepare MIS and regulatory reports for senior management and regulators

• Liaise with depositories, registrars & transfer agents (RTAs), and internal stakeholders

Support branches and relationship teams on DP-related queries and escalations

Drive customer-centric initiatives to improve turnaround time (TAT) and service quality

• Identify opportunities for automation and digitization of DP processes

Participate in system enhancements and UAT testing for new DP functionalities

Drive efficiency improvements to reduce manual intervention and operational errors

Role Requirements / Qualification / Experience

Educational Qualification

Graduate in Commerce / Finance / Business Administration Postgraduate (MBA / CA / CFA preferred)

Experience

4–10 years of experience in DP operations, custody operations, or capital markets operations within a bank, brokerage, or financial institution Hands-on experience with NSDL / CDSL systems and DP back-office platforms

Core Competencies

Strong understanding of depository operations, settlement cycles, and securities market processes

In-depth knowledge of regulatory guidelines issued by SEBI, NSDL, and CDSL

High attention to detail with strong risk and control mindset. Analytical skills with ability to interpret data and drive insights

Behavioral Skills

Strong ownership and accountability. Ability to work under tight regulatory timelines and audit scrutiny. Effective communication and stakeholder management skills

Preferred Skills

Knowledge of digital onboarding and e-DIS frameworks. Experience in process automation / transformation initiatives. Familiarity with banking systems and integration with DP platforms

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Issued by The Hongkong and Shanghai Banking Corporation Limited, India