Account opening & Modification Team Lead

Position Overview:

The Account Opening & Modification Team Lead is responsible for overseeing the scrutiny of account opening forms for new client onboarding and modification requests for existing demat and trading accounts, ensuring KYC compliance. The role includes managing the team, tracking requests, publishing MIS, and ensuring the accurate capturing of relevant details in the system while maintaining compliance with regulatory requirements. Additionally, the Team Lead will focus on improving operational efficiency and the First-Time Right (FTR) ratio by collaborating with business teams and conducting knowledge sessions.

Role & responsibilities:

• Lead, supervise, and manage the Account Opening & Modification team, ensuring timely and accurate processing of account opening forms (AOF) and modification requests for demat and trading accounts.
• Review and verify KYC documents for various account types, including Resident Individuals, NRIs, and Non-Individual accounts (Corporate, Partnership, LLP, Trust, HUF, etc.), ensuring regulatory compliance.
• Ensure accurate data push and updates across all relevant systems, including back-office applications, exchanges, and depositories.
• Collaborate with Product and IT teams for product enhancements and bug fixes.
• Provide coordination and support to Compliance and Audit teams.
• Coordinate with exchanges, KRAs and external stakeholders for smooth processing of UCC, KRA/KYC registration and issue resolution.
• Publish regular MIS reports on account opening/modification requests, approval/rejection rates, and FTR metrics.
• Collaborate with business teams to analyze errors and drive improvements to enhance the First-Time Right (FTR) ratio.
• Conduct periodic knowledge-sharing sessions with business teams on KYC compliance, regulatory updates, and best practices.
• Stay updated with the latest regulations and compliance requirements related to account opening and KYC to ensure strict adherence in all account processes.

Preferred candidate profile

• Proficient in MS Office and other relevant software.
• Strong knowledge of capital markets, stock markets, and financial services.
• Minimum 3 to 5 years of experience in account opening, KYC compliance, and team handling within the financial services industry.
• Strong understanding of regulatory requirements related to account opening and KYC.
• Excellent communication skills, both written and verbal.
• Ability to work independently and as part of a team while managing multiple tasks.
• Strong problem-solving and decision-making abilities, with a focus on improving operational efficiency and compliance.