Senior Manager

1 week ago

Karachi, Sindh, Pakistan Pakistan Mercantile Exchange Full time 1,500,000 - 3,000,000 per year

Clearing & Settlement Operations

  • Supervise daily clearing and settlement of trades executed on the exchange.
  • Ensure timely margin collection, mark-to-market adjustments, and final settlement of contracts.
  • Monitor delivery and receipt obligations in case of physical settlement of commodities.
  • Manage reconciliation of member accounts, bank accounts, and collateral positions.
  • Ensure compliance with settlement cycles and timelines.
  • Supervise market operations activities, including the setup of new futures contracts, determination of related margins, market timings, and preparation of the settlement calendar for deliverable contracts.
  • Ensure that system changes align with defined business requirements prior to deployment in the production environment.

Collateral & Banking Operations

  • Oversee collateral management including cash, securities, and commodities.
  • Coordinate with settlement banks, custodians, and depositories for fund and asset transfers.
  • Monitor collateral valuation and ensure appropriate haircuts are applied.
  • Manage bank account operations including daily reconciliations.
  • Manage daily cash collections and withdrawals against Initial Margin and Clearing Deposits, while coordinating with settlement banks to resolve any transaction disputes.
  • Prepare and review reconciliations of Margins and Deposits (M&D) accounts to ensure accuracy and compliance.

Technology & Process Management

  • Coordinate with IT teams to ensure clearing and settlement systems are robust, secure, and efficient.
  • Monitor system performance and resolve operational bottlenecks.
  • Ensure process automation, business continuity, and disaster recovery readiness.

Compliance & Regulatory Reporting

  • Ensure all operations comply with exchange rules, clearing house regulations, and SECP (or relevant regulator) directives.
  • Prepare and submit required reports (settlement reports, exposure reports, collateral reports, etc.) to regulators and management.
  • Maintain transparent records and audit trails.

Member & Stakeholder Coordination

  • Act as the primary point of contact for clearing members, brokers, and settlement banks regarding operational matters.
  • Provide operational guidance and support to market participants.
  • Conduct training sessions and awareness programs for members.

Team Leadership & Administration

  • Lead and supervise the operations team ensuring accuracy, discipline, and efficiency.
  • Develop SOPs and ensure adherence across all processes.
  • Provide training, mentoring, and performance management for the team.

Strategic & Continuous Improvement

  • Identify gaps in clearing and settlement processes and recommend improvements.
  • Participate in new product launches and ensure operational readiness.
  • Collaborate with management to align operations with overall exchange strategy

Education: Postgraduate in Accounts / Business / Statistics

Experience: Minimum 08 years with 2-3 years in related industry

Skills: MS Excel / MS Word / Power Point

Job Type: Full-time

Pay: Rs200, Rs300,000.00 per month

Work Location: In person

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