Job Title: T&T - Customer - CS&D - Senior Consultant | BA - General Banking | Mumbai
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Summary:
Functional Domain Expert – Clearing & Settlement
Location: Mumbai, India
Experience: 8 – 12 years
Department: Clearing, Settlement & Risk Management Systems
About the Role
Deloitte is seeking a highly skilled Functional Domain Expert in the area of Clearing and Settlement. The ideal candidate will have deep experience in post-trade operations and settlement systems across equities, derivatives, debt, or mutual fund segments. This role will focus on strengthening BSE’s clearing and settlement architecture, driving process improvements, and liaising with technology and business teams to ensure robust operational excellence.
Key Responsibilities
1. Functional Expertise
Serve as the subject matter expert (SME) for clearing, settlement, and post-trade operations.
Define and validate functional requirements for clearing & settlement modules across asset classes.
Evaluate and design clearing workflows, participant margining, collateral management, pay-in/pay-out, and risk settlement cycles.
Ensure compliance with SEBI, RBI, and international clearing regulations (CPMI-IOSCO principles).
2. Process and System Analysis
Translate business requirements into functional specifications for system enhancements or new modules.
Collaborate with IT and product teams to ensure accurate implementation and testing of clearing and settlement functionalities.
Review functional designs, test cases, and UAT results to ensure system integrity and accuracy.
3. Stakeholder Management
Engage with clearing members, custodians, depositories, and settlement banks to resolve operational issues.
Serve as a liaison between business users, clients, and internal technology teams to ensure smooth delivery and post-implementation support.
Conduct user workshops and training sessions for internal and external stakeholders.
4. Regulatory & Compliance Alignment
Interpret and operationalize regulatory circulars from SEBI, RBI, and other authorities.
Ensure all system changes align with BSE’s risk management framework and regulatory requirements.
Support audits and regulatory inspections by providing domain insights and documentation.
5. Continuous Improvement
Drive automation and digital transformation initiatives within clearing and settlement processes.
Benchmark global clearing systems (e.g., LCH, NSCCL, ICE Clear) and recommend enhancements.
Identify process bottlenecks and propose solutions to improve settlement efficiency and reduce operational risk.
Key Skills and Competencies
Domain Expertise: In-depth understanding of clearing and settlement cycles, margining, collateral management, and risk handling.
Industry Experience: Prior experience in a stock exchange, clearing corporation, depository, or a large financial institution with clearing & settlement exposure.
Functional Analysis: Strong capability to write BRDs/FSDs, validate UAT scenarios, and coordinate with IT for functional validation.
Client Management: Excellent communication skills with proven experience in handling institutional clients and clearing members.
Regulatory Knowledge: Familiarity with SEBI, RBI, and depository regulations governing securities settlement.
Tools: Exposure to clearing & settlement platforms (e.g., NSCCL, ICCL, CDSL, or similar systems).
Qualifications
Bachelor’s degree in Finance, Commerce, Economics, or Engineering.
Postgraduate qualification (MBA/CA/FRM) preferred.
8–10 years of experience in clearing, settlement, or post-trade domain with a reputed exchange, clearing corporation, or securities operations unit.
Desirable Attributes
Proven track record in functional design and implementation of clearing modules.
Strong analytical, documentation, and presentation skills.
Ability to manage cross-functional stakeholders in a high-regulation environment.
Passion for innovation in capital markets infrastructure and technology modernization.
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