About the role
The compliance function needs to be built from the ground up - policies, procedures, surveillance systems, regulatory reporting, and exchange/depository relationships. We also have existing obligations under SEBI (Research Analyst) Regulations for our current platform. This role will be responsible for the entire compliance lifecycle: licence acquisition, framework design, ongoing operations, and audit readiness.
Responsibilities:
- Broker Licence: Lead the SEBI stockbroker registration process. Application documentation, capital adequacy requirements, exchange membership (NSE/BSE), depository participant tie- ups (CDSL/NSDL), and all regulatory liaison through to approval.
- Compliance Framework: Design and implement KYC/AML policies, client onboarding procedures, trade surveillance, risk management policies, margin monitoring, and internal controls appropriate for a technology-driven brokerage.
- Regulatory Operations: Manage ongoing filings, net worth reporting, SCORES grievance redressal, exchange audit responses, and periodic compliance reports to SEBI and exchanges.
- Surveillance: Establish trade surveillance for market manipulation, insider trading, front- running, and other prohibited activities across client accounts.
Requirements:
- 8-12+ years in compliance at a SEBI-regulated entity: stockbroker, research analyst, investment adviser, or exchange.
- Strong working knowledge of SEBI (Stock Brokers) Regulations, SEBI (RA) Regulations, PMLA/KYC norms, and NSE/BSE by-laws.
- Prior experience with stockbroker registration or licence acquisition with SEBI is strongly preferred.
- Qualified Company Secretary (CS) or Chartered Accountant (CA).
- Direct experience working with SEBI, NSE, BSE, CDSL/NSDL during inspections, audits, and licence processes.
- Understanding of trade surveillance frameworks, peak margin norms, upfront margin requirements, and broker risk management obligations.
- Strong written communication for regulatory submissions, board-level compliance reports, and user-facing disclosures.
Bonus Points:
- Experience at a discount or fintech broker (Zerodha, Angel One, Upstox, Dhan, or similar).
- Familiarity with algo/APl trading compliance requirements.
- Exposure to SEBI's regulatory sandbox framework Or cyber security and technology risk guidelines.
- Experience setting up compliance tooling - surveillance systems, AML screening, or regulatory reporting automation.