BSE seeks applications for three executive directors under Sebi norms

Stock exchange plans to hire executive directors for critical operations, regulatory and business roles as Sebi tightens governance norms for market infrastructure institutions

Stock exchange BSE is planning to hire three executive directors (EDs) for new roles under the regulatory mandate specified by the Securities and Exchange Board of India (Sebi). BSE on Friday invited applications for the EDs for critical operations, regulatory, compliance, risk management and investor grievances, and business segment.

 

The appointments will be for a maximum of two terms of five years each and a maximum age limit of 65 years.

 

The market regulator had strengthened governance at market infrastructure institutions, mandating appointment of EDs for key segments at board level.  

 

The EDs will be reporting to the managing director and the governing board. At present, the BSE board is chaired by Public Interest Director Subhasis Chaudhuri and is helmed by Sundararaman Ramamurthy as the managing director and chief executive officer. The board also has four other public interest directors and one non-independent director.

 

 

According to the advertisement, the ED-Critical Operations will be responsible for technology, information security, and exchange operations. BSE has sought over two decades’ experience and relevant expertise. Similarly, the ED-Regulatory, Compliance, Risk management and Investor Grievances will look at regulatory compliance and to ensure that the market infrastructure institutions MII operates in public interest.

 

The third ED-Business will lead business development, drive growth and product innovation, and market initiatives to enhance competitiveness.