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15 Nov 2022

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Manager – DEFCOM, IPFT

Mumbai

6-8 Years

IPF, SEBI, DEFCOM, Payments

Job Description

Position: Manager – DEFCOM, IPFT
Qualification: CA, CS, LLB
Experience: 4 to 7 years
Location: Mumbai

Job Description:

Handle the investor claims for defaulting trading members 
  • Verify the claims processed and provide necessary guidance to AM to address challenges faced in claim processing. 
  • Validate the outcome, payment letters sent to claimants intimating them of the outcome of the DEFCOM, IPFT meeting.
Handle activities pertaining to the Investor Protection Fund Trust 
  • Seeking Trustees approval for payments to be made out of the IPF (claims and otherwise). 
  • Monitoring the payments to investors opting for arbitration, out of the IPF. 
  • Ensuring periodical updates wherever required, to the Trustees. 
  • Ensure replenishment to the IPF from Defaulter members assets, TMs, Investors, as applicable. 
  • Ensure compliance with the Byelaws, Rules, Regulations, Trust Deed i.r.t. the IPFT. 
  • To oversee the functions of the Defaulters’ Committee Section, Investor Protection Fund Trust (IPFT) 
  • Section and Company Complaint’s Section and ensure smooth functioning and adherence to the various  and TAT’s. 
  • To engage in relationship building with regulators, implement the necessary process changes in the department to comply with SEBI circulars and incorporate the necessary amendments in the byelaws, Trust Deed, etc., wherever applicable. 
  • To recommend and initiate process improvements, system developments and to monitor and control the team and process efficiency. 
  • To identify training needs of the team and conduct training programs.  
Quarterly DEFCOM, IPFT and Board meetings 
  • Confirm the contents of the agenda for the quarterly DEFCOM, IPFT meetings within the prescribed timelines. 
  • Prepare the presentation for these meetings. 
  • Prepare the minutes of the meetings within defined TAT. 
  • Ensure that relevant items be taken to the Board for its necessary approval. 
Investor complaint redressal process for complaints against Companies 
  • Monitor the functioning of each stage of investor complaint redressal process. 
  • Provide guidance to team in dealing with complex investor complaints. 
  • Ensure effective controls for timely action or escalation to HOD. 
  • Monitor the process of responding to queries from investors, regulators when escalated. 
Relationship management with regulators and handle queries for regulators, investors 
  • Guide & verify the team w.r.t. issues of aggrieved investors whose claims are found to be inadmissible.
  • Invest time in relationship management with the regulators by connecting with them and responding to their queries relating to both investors as well as operational issues. 
Periodic Clean up activity and system development initiatives 
  • Set internal service standards and ensure the team’s achievement i.r.t. those activities. 
  • Ensure periodic review of the same. 
  • Initiate, recommend and support new initiative for process improvements, system developments. 
  • Coordinate with IT department for finalizing, testing and rolling out the upgraded systems. 
Withheld Securities  Monitor the details of all securities withheld on behalf of Defaulter, Expelled members. 
  • Monitor the corporate benefits received and ensure credits to the respective Defaulter, Expelled members account. 
  • Ensure that the Defaulters’ Committee is updated of all relevant developments pertaining to withheld securities. 
  • Obtain Board/relevant approvals for change in authorized signatories to carry out necessary activities.
  • Sensitive Cases  Draft the report in response to the queries raised by regulators like SEBI,  EOW, MOF, Police regarding cases. 
  • Engage with regulators like SEBI, EOW, MOF & Police for queries & updates on investor complaints and cases. 
  • Coordinating with the legal department for their inputs in drafting the reply. 
Audit 
  • Handle the internal audit conducted annually for DCS, IPFT sections and half-yearly for company complaints. 
  • Co-ordinate and handle the SEBI audit on behalf of ISC. 
  • Other Adhoc activities 

15 November 2022

wbmT

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