About the Role
The ideal candidate should be a DP/Capital Markets compliance professional with robust CDSL operational knowledge and sufficient IT/Cyber understanding to independently coordinate system audits, cyber audits, VAPT, regulatory inspections and closure of observations. The person should be capable of functioning as the single point of coordination between Compliance, Demat Operations, Technology, Cyber Security, Internal Audit and CDSL. Senior Manager
- Compliance Operations
- Demat will be responsible for ensuring end-to-end regulatory and operational compliance of Demat and Depository Participant activities, with specific responsibility for CDSL compliance, system controls, cyber-security audits, regulatory inspections, operational risk management and closure of audit observations. The role will act as a key interface between Business, Demat Operations, Technology, Information Security, Internal Audit, CDSL, SEBI and other regulatory stakeholders. Responsibilities

Key Responsibilities
A. CDSL & Depository Compliance
• Ensure compliance with applicable SEBI regulations, CDSL Bye-Laws, Operating Instructions, circulars and guidelines.
• Monitor compliance requirements applicable to the DP and ensure timely implementation of CDSL circulars.
• Coordinate with CDSL on inspections, audits, compliance requirements and operational matters.
• Ensure timely submission of all CDSL/SEBI regulatory reports, certificates and returns.
• Monitor compliance related to:
• Demat account opening
• KYC and KRA
• BO account maintenance
• BSDA
• Nomination
• Transmission
• Dematerialisation/Rematerialisation
• Pledge/Hypothecation
• Invocation




• Off-market and inter-depository transfers
• Corporate actions
• Account closure and DP surrender
• DIS/eDIS/DDPI processes
• Power of Attorney and authorisations
• Ensure appropriate maker-checker controls across DP operations. B. Demat Operations Compliance
• Review end-to-end Demat operational processes for regulatory compliance.
• Conduct periodic compliance checks of branches/DP service centres.
• Monitor exceptions, rejected transactions, pending requests and ageing reports.
• Ensure proper maintenance of customer records and statutory documentation.
• Review customer complaints and ensure regulatory timelines are adhered to.
• Monitor unusual transactions and operational exceptions and escalate appropriately.
• Ensure proper reconciliation between DP system, CDSL records, bank/trading systems and other relevant platforms. C. System & Application Compliance
• Review compliance of Demat-related applications and technology platforms.
• Ensure regulatory requirements are incorporated into system workflows.
• Review system access controls, user roles and privileged access.
• Ensure appropriate Maker-Checker, role-based access control and segregation of duties.
• Review system-generated reports and regulatory MIS.
• Participate in UAT for new Demat features,



system changes and regulatory enhancements.
• Ensure proper documentation of system changes, approvals and release management.
• Monitor application logs and system exceptions relevant to DP operations. D. Cyber Security & IT Audit
• Coordinate Cyber Security Audits, VAPT, IS Audit and System Audit applicable to the DP.
• Coordinate with Information Security, IT and external auditors.
• Ensure timely closure of audit observations and vulnerabilities.
• Monitor:
• VAPT findings
• SAST/DAST findings where applicable
• Vulnerability remediation
• Patch management
• Access control
• Privileged access
• Incident management
• Log monitoring
• Backup and recovery
• Business Continuity Planning
• Disaster Recovery
• Cyber-security controls
• Track critical/high-risk vulnerabilities and ensure defined remediation timelines.
• Review Cyber Incident Response and escalation mechanisms.
• Ensure evidence is maintained for all audit and regulatory requirements. E. Audit & Regulatory Inspection
• Act as the primary coordinator for:
• CDSL Inspection
• SEBI Inspection
• Internal Audit
• Concurrent Audit
• System Audit
• Cyber Security Audit
• Information Security Audit
• Prepare audit checklists and evidence repositories.
• Coordinate responses to audit observations.
• Maintain an Audit Observation Tracker with owner, target date, risk rating and closure status.
• Ensure timely submission of compliance responses.
• Identify recurring observations and implement preventive controls.

📌 Senior Manager- Compliance Operations- Demat (Thiruvananthapuram)
🏢 Muthoot Fincorp
📍 Thiruvananthapuram