Business Function
Global Transaction Services (GTS) comprises of Cash & Trade, Securities Services and Fiduciary Services. In an increasingly borderless world marked by burgeoning Asset transactions expertise in trade finance services is an invaluable asset. With cash the lifeblood of every company, so too, is a good understanding of how to manage these cashflows. Trade Finance, together with Cash & Securities Management, is the mainstay of GTS, and is extended to Funds, MNCs and corporate clients for their local and cross-border financial transaction needs.
Job Purpose
You will be responsible for Custody, Derivative Clearing (Professional Clearing Member (“PCM”), Fund Accounting Products and Designated Depository Participant (“DDP”) role. The individual will have responsibility for regulatory compliances, P&L and product strategy. The individual will have to collaborate closely with external stakeholders across SEBI, RBI, IFSCA, Exchanges, Depositories, Clearing Corporations, Custodians. The individual will also have to collaborate closely with internal stakeholders across relationship, Group SFS, Compliance, Legal, FCSS, Technology, Operations, Sales and Client Management teams. The industry is embarking on a period of significant change, innovation and new business opportunities and DBS India is looking to play a leadership role. The role will report directly to the India Product Head of Securities and Fiduciary Services.
Key Accountabilities
- Activities related to client onboarding, due diligence and regulatory compliances.
- Lead the development and execution of the India custody product strategy including ongoing priorities and alignment with Indian regulatory changes and Group guidelines
- Collaborate on commercial topics with key stakeholder and business partners across functions including legal, risk and compliance.
- Explore new business opportunities that help to shorten the chain of custody, drive efficiency and reduce risk
- Developing and driving the vision and product strategy
- Partner with the business to drive revenue and profitable growth
- Own product across Custody, PCM, Fund Accounting in both India and IFSC-GIFT
- Partner with operations to manage operating costs, drive process improvements and improve cost to serve
- Provide market insights to drive development and competitive positioning of the product
- Identify areas of improvement in the core products
- Participate in Industry groups across the region to drive market leadership and change
- Partner with clients and industry participants to drive and deliver value added products
Job Duties & responsibilities
- On boarding of client in coordination with the relationship team and operations team
- Responsibility for ensuring that the compliance of all procedures with banking/statutory requirements and securities industry are updated as per market developments.
- Participating in projects affecting custody processes arising from new/revised business areas.
- Initiate continual enhancements to productivity and quality of service in line with developments within Processing & Services Group and the Bank
- Planning for operational changes to meet securities and custody market developments
- Ensure prompt responses to clients’ queries (24-hr turnaround / acknowledgement).
- Work with the client on account structure so that the account registration process with SEBI is smooth.
- Liaise with client on the account opening document requirements.
- Ensure that the transition of new business is smooth.
- Liaise with other sections within branch, with Head Office on regulatory or operational issues impacting credit arrangements and overall Bank relationship
- Keep abreast of market developments and keep the clients updated on the same.
- Participate in execution of the India custody product strategy including ongoing priorities and annual investment decisions and alignment with Indian regulatory changes and Group guidelines
- Identify areas of improvement in the core products
- Explore new business opportunities that help to shorten the chain of custody, drive efficiency and reduce risk
- Participate in Industry groups across the region to drive market leadership and change
- Partner with clients and industry participants to drive and deliver value added products
- Collaborate on commercial topics with key stakeholder and business partners across functions including legal, risk and compliance.
Required Experience
- Mid/Senior level, experienced talent with deep subject matter expertise in Custody, Fund Accounting, DDP and PCM functions and the broader asset servicing product set
- Proven track record of working with large complex clients and establishing strong partnerships at all levels
- Strong working knowledge of technology, market infrastructures and industry partners that support the custody chain
- Excellent client skills and the ability to engage at all levels
- Strong understanding of operational processes across all aspects of Custody, DDP, PCM and Fund Accounting functions
- Ability to effectively communicate at all levels within an organization
- Demonstrates strong leadership skills and the ability to effectively manage and mentor staff
- Proven ability to execute on product deliverables and strategic vision
Education / Preferred Qualifications
- An MBA or Chartered Accountant or equivalent degree is preferable, with at least 4-5 years with Custody/product knowledge & in Securities market regulations.
- Good understanding of the product management process
- Strong understanding of SEBI, RBI, FEMA, IFSCA, Depository regulations
- Market knowledge and experience of Custody business, with reference to customer preferences and requirement would be preferable.
- Experience in FPI, FVCI and AIF business is an added advantage
- Degree in Securities Law is preferable
- Should be street smart with good communication skills
Core Competencies
- Expertise and experience in FEMA compliance and capital account transactions.
- Good understanding of the Product management process
- Sound technical knowledge of Securities and Fiduciary Service business
- Good problem solving/analytical, planning & organising skills. Planning, scheduling and monitoring deliverables, within a stipulated time frame using effective methods
- Good team management skills / working with multiple stakeholders
- Good interpersonal and communications skills.
Technical Competencies
- Sound understanding of Securities Services products and associated systems, technology platforms and operational procedures
- Strong knowledge of SEBI, FEMA, Depository, IFSA and associated regulations
- In-depth understanding of Securities and Fiduciary Services business and associated technology platforms and operational procedures
- Internet and Microsoft Office Skills
Work Relationship
- Possess good working relationship and a high degree of team spirit and cooperation with relationship group as well as service partners in the bank such as Product Mgt, Operations, Finance, Legal etc, so as to ensure seamless delivery of products to clients
- Establish rapport with our clients so as to win their business, confidence Possess good working relationship and a high degree of team spirit and cooperation with service partners in the bank such as Technology, Operations, GTS - Singapore etc. as well as relationship groups, viz., FIG, EBG and IBG so as to ensure seamless delivery of products to our clients and business growth and smooth functioning of the business as a whole.
- Establish good contacts with industry players, particularly regulators, other custodians, intermediary channels.