Lead - otc operations

Nuvama Private · Mumbai, India

The Lead – OTC Operations will own end-to-end operations for Over the Counter (OTC) and unlisted products within Private Wealth Management. The role requires deep product knowledge, strong control discipline, and the ability to build and lead a specialized team across fixed income settlement, secondary AIF execution, and unlisted equity/CCPS and CCD transactions

Key Responsibilities

Trade Execution & Settlement Own trade execution and settlement across OTC Fixed Income instruments, ensuring timely and accurate settlement. Manage end-to-end execution for unlisted equity, CCPS, and CCD trades, coordinating with counterparties, custodians, and RTAs. Coordinate with counterparty operations teams to resolve confirmation mismatches and settlement fails.

Secondary AIF Documentation & Execution Drive documentation and execution for secondary AIF transactions, including assignment agreements, deeds of transfer, and KYC/AML checks on transferees. Liaise with fund houses/AMCs and legal teams on transfer terms, valuations, and compliance requirements.

Controls & Governance Implement 4-eye / 6-eye controls across the OTC trade lifecycle, with complete audit traceability. Build and maintain SOPs for a low-frequency, high-complexity product set that does not fit standard STP flows. Monitor and manage operational risk on counterparty risk and valuation risk for illiquid instruments.

Team & Stakeholder Leadership Build and lead a specialized team dedicated to Private Wealth OTC Operations, including capability development within the team. Act as the primary point of contact across Relationship Managers, custodians, AMCs, legal, and compliance. Manage vendor and counterparty relationships (custodians, RTAs, law firms) supporting OTC and unlisted transactions.

Skills & Experience Required

Product & Market Knowledge Fixed income instruments (bonds, NCDs, structured debt), settlement conventions, and accrued interest calculations. Secondary AIF transactions — unit transfers, NAV-based pricing, drawdowns and distributions. Unlisted equity and CCPS structures, conversion terms, and valuation triggers. CCDs and debt-instrument-specific settlement nuances.

Operations & Documentation End-to-end trade execution and settlement for OTC/bilateral (non-exchange-cleared) transactions. Drafting and reviewing SPAs, assignment deeds, and novation agreements. Working knowledge of transfer restrictions, ROFR, and lock-in clauses on unlisted/CCPS deals.

Regulatory & Compliance Familiarity with SEBI AIF Regulations, FEMA, and Companies Act provisions relevant to private placements. Understanding of KYC/AML requirements for secondary transfers, and stamp duty/tax withholding treatment on OTC and unlisted trades.

Systems, Risk & Leadership Comfort working with portfolio management systems, custodian platforms, and reconciliation tools. Strong Excel and data-handling skills for tracking positions, cash flows, and corporate actions on illiquid holdings. Proven people leadership experience, with the ability to build capability in a niche, high-value product area.

Ideal Experience Profile

8–15 years in wealth or asset management operations, with specific exposure to alternative investments (AIF), unlisted securities desks, or OTC fixed income settlement — not limited to standard listed-equity or mutual-fund operations, given the bespoke, documentation-heavy nature of this role.