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National Stock Exchange 2011

Role Description for: Assistant Manager - Compliance


Role Title

Asst. Manager Inspection

Function

Inspection

I. Purpose of the role:


To ensure that trading members/ stock brokers adhere to the regulatory norms by conducting onsite
inspection, verification of member submission of required documents and audit reports and follows up
with members for the same. To initiate action by sending penalty notes to defaulting members and
initiating ICMA meetings for deciding their cases.
II. Key Responsibilities (This should reflect the process/sub-process in which the position plays a role
and specifically indicate the actions to be taken. Please include a maximum of 8 key responsibilities)
Sl
No
.
1.

Key Responsibility
Quarterly selection of
members for inspection
visits

Descriptive Parameters
1. Collate exchange data to assess risk and categorize members into
different buckets.
2. Prioritize
members,
calendar/schedule as
Exchange/SEBI.

and
prepare
per selection

quarterly
inspection
criteria approved by

3. Draft approval note and share inspection dates with respective


regional inspection teams.
4. Co-ordinate for visit date to member office and prepare the
intimation letter to member.
2.

Onsite inspection/
compliance visits

1. Conduct inspection on members site as per the inspection calendar


for the quarter following a pre-approved checklist.
2. Draft the inspection report for the member.
3. Expand the scope of inspection beyond the pre-approved checklist
after consulting manager.
4. Prepare the preliminary observation sheet for the inspection and
schedule the closure meeting between the member and manager
5. Verify the inspection report prepared by the maker (another AM).
6. Conduct compliance visits for new members/ brokers to acquaint
them to the compliance requirements and inspection process.
7. Escalate matters like non co-operation of member/delay in
furnishing data to the respective Manager

3.

Post inspection
activities

1. Collect feedback from members of all regions on the inspection visits


conducted.
2. Send the letter of observation to the member after the inspection
report is approved internally and follow up with member for reply.
3. Follow up through telephone/email/reminder letter for seeking reply
to letter of observation issued. Escalate non-compliant members to
Manager

Authorised by:

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National Stock Exchange 2011

4.

Activities post member


reply to the letter of
observation

1. Prepare the reply analysis note after receiving the members reply.
2. Schedule ICMA (Internal Committee for Minor Action) meeting, as
per convenience of members, prepare the agenda for the meeting,
and carry out administrative arrangements for the same.
3. Present the case of the member and preparation of draft minutes of
Committee meeting.
4. Coordinate for organizing of the Disciplinary Action Committee
(DAC), as per requirement.
5. Draft and send the action intimation letter to the member
communicating the monetary penalty imposed / interim direction
provided/ warning given to the member after finalisation of minutes
of the committee meetings.
6. Prepare review analysis note if a member requests for review of the
decision taken by committee meetings.

5.

Data collation and


analysis for daily
reports and adhoc
requests

1. Collate data to cater to the request raised by external regulators like


SEBI and various internal departments within NSE.
2. Collate and analyse data from other exchanges and internal NSE
departments for Monthly Development report, Monthly Activity
report, SEBI annual/ half yearly report to be sent to SEBI.
3. Collation of data to be displayed on website as regards action
initiated against member

Note: Additional responsibilities may be added from time to time depending on


organisational requirements.
III. Role Holder Requirements
Educational
Qualifications
Role Requirements

Experience

Essential CA degree
Desired NA

Knowledge of financial and capital markets

Knowledge of statutory requirements applicable to the


financial markets

Essential 1-3 years of experience


Desired Relevant experience in financial services

Authorised by:

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