AVP, Custody Operations, Corporate Banking, Technology and Operations

Business Function

Group Operations enables and empowers the bank with an efficient, nimble, and resilient infrastructure through a strategic focus on productivity, quality & control, technology, people capability and innovation. In Group Operations, we manage the majority of the Bank's operational processes and inspire to delight our business partners through our multiple banking delivery channels. As an Operations Department, we embrace and reinforce the strong PRIDE! culture that is built up in DBS.

This is done through strategic focus on training and improving staff capability, empowerment, productivity, teamwork, innovation & technology, managing operational risks & strongly collaborating with our business partners in delivering excellent RED service to our customers.

About the Role:

DBS Custody Services is seeking a highly motivated and experienced Assistant Vice President to join our dynamic team. This role is crucial in ensuring the efficient and compliant processing of custody operations, catering to a diverse client base including Foreign Portfolio Investors (FPIs), Foreign Direct Investors (FDIs), and Foreign Venture Capital Investors (FVCIs). The successful candidate will possess a deep understanding of Indian capital markets, regulatory frameworks, and depository operations.

Key Responsibilities:

Depository Participant Activities:

• Oversee and manage daily Depository Participant (DP) activities.
• Ensure timely and accurate preparation and submission of all monthly, quarterly, semi-annually and annually regulatory reports and filings to NSDL and CDSL authorities.
• Maintain strict adherence to SEBI regulations and Depository guidelines.

Market Operations & Regulations:

• Demonstrate sound knowledge of Equity and Fixed Income markets, including primary and secondary market trades for corporate bonds and government securities.
• Strong understanding of regulations pertaining to FPI, FDI, FVCI investments, and Depository Receipts processes.
• Process and manage Mutual Fund transactions for both FPI and Domestic clients.
• Sound knowledge of corporate actions processes within custody services, including but not limited to dividends, bonuses, rights issues, mergers, and acquisitions.
• Ensure accurate and timely processing and reconciliation of all corporate action events.

Account Opening & Documentation:

• Possess extremely good knowledge of account opening procedures from a SEBI perspective.
• Thorough understanding of various FPI structures (e.g., Category I, Category II, etc) and their documentation requirements.
• Proficiency in opening and managing accounts on depository systems, ensuring all necessary documentation is meticulously collected and verified.

SWIFT Messaging:

• Good knowledge and practical experience with SWIFT messages related to settlements (MT5xx series), corporate actions (MT5xx series), and cash management (MT1xx/MT2xx series).
• Ensure efficient and accurate communication with counterparties through SWIFT.

Regulatory Compliance:

• Stay updated with evolving regulatory landscapes and ensure all custody operations are in full compliance with SEBI, RBI, and other relevant governing bodies.
• Assist in internal and external audits, providing necessary documentation and explanations.

Client Servicing:

• Support client queries and provide timely and accurate information regarding their holdings and transactions.
• Collaborate with internal teams to resolve client issues and enhance service delivery.

Requirements:

• Minimum of 810 Years years of experience in Custody Operations or a similar role within a financial institution.
• Proven experience in Depository Participant activities, including regulatory reporting.
• In-depth knowledge of Indian capital markets, including Equity and Fixed Income.
• Strong understanding of SEBI regulations pertaining to FPIs, FDIs, FVCIs, and Depository Receipts.
• Hands-on experience with FPI account opening, documentation, and various FPI structures.
• Familiarity with mutual fund processing for both FPI and domestic clients.
• Solid understanding of corporate actions processes.
• Proficiency in SWIFT messaging for settlements, corporate actions, and cash.
• Excellent analytical, problem-solving, and communication skills.
• Ability to work effectively in a fast-paced and dynamic environment.
• Strong attention to detail and accuracy.
• Relevant professional qualifications (e.g., NISM certifications) would be an added advantage.

Education:

• Bachelor's degree in Finance, Business Administration, Economics, or a related field. A Master's degree is a plus.