Nikhil Patel
Navi Mumbai
Summary
Seasoned Chief Risk Officer experienced in risk assessment and regulatory compliance. Developed and implemented strategic plans that mitigated risks, safeguarded assets, and improved financial performance across multiple industries. Focused on enhancing organizational resilience and driving sustainable growth through proactive risk management and strong leadership.
Overview
27
27
years of professional experience
Work History
Chief Risk Officer
SBICAP Securities Limited
Mumbai
09.2025 - Current
- Heading Incident reporting committee
- Developed and implemented a risk management framework to identify, assess, monitor, and manage risks across the organization.
- Setting up ERM policies & Process
- Developed risk management frameworks to identify and mitigate potential threats.
- Review of Risk, Surveillance, MTF, BCP policies at regular intervals of time.
- Preparing RMCB, RCSA, Risk Dash Board, ICAAP, GRC documents to Board.
- Proprietary risk for Market Making of ETF
- Handled exchange and clearing corporation inspections, responding to regulator queries on risk management compliance.
- Ensured compliance with laws and regulations related to risk management.
- Conducted process reviews to pinpoint operational risk areas, fostering improved risk management.
- Using Analytics to monitor portfolio and generate alerts on Single script exposure, Exposure in falling volume etc.
- Analyzed financial data to assess risk exposure across various portfolios.
- Collaborated with senior leadership to strategize risk assessment initiatives.
- Reviewed and updated internal policies, strengthening risk governance practices.
Head of Risk Management & Surveillance
Bajaj Financial Securities Limited
01.2025 - 09.2025
- Automation of various processes and developments of MIS reports.
- Automation of various risk processes wherever possible to avoid manual errors
- Made ESOP live in broking.
- Proprietary risk, Dealer wise profitability, utilization & Monitoring
- Handling of inspections conducted by exchange and clearing corporation. Providing responses to the regulator for inspection related queries pertaining to Risk Management.
- Managing team for processing of Surveillance alerts from internal Surveillance and AML alerts
- Handling internal audit and inspection
- Ensuring Compliance with latest regulatory changes
- Exception reporting to Top management
- Coordinating with other teams for process improvements
COO, Head Operations, Risk & Surveillance
Cholamandalam Securities Ltd
03.2023 - 02.2024
- Oversee day to day operations
- Ensuring efficient execution of trades
- Compliance with regulations
- Smooth functioning of various departments
- Responsible for Strategic planning pertaining to business
- Technology implementation and enhancing customer experience.
- Closely working with various departmental heads
- Treasury planning and raising of funds
JGM & Head of Risk & Surveillance
Axis Securities Limited
01.2020 - 03.2023
- Monitoring and reviewing of E Margin funding book and presenting the same to Board & Parent Company.
- Member of Training group imparting training of Pan India Sales & Dealing team on Risk Management processes, products, policies and regulatory circulars.
- Review of F&O Book
- Review of policies at regular intervals of time.
- Automation of various processes and developments of MIS reports.
- Coordinating with various departments for new product developments
- Exchange monitoring of margins and yields reports of the clients
- Member of Strategy group for long term Goals of organization
Sr VP & Head of Risk
JM Financial Services Limited
06.2018 - 12.2019
- Setting up HFT & Algo trading desk.
- Monitoring and reviewing of Margin funding book and presenting the same to management on periodic basis.
- Coordinating with business & product team for development of new products
- Automation of various processes wherever possible to avoid manual errors
- Implementation of new trading software for algo trading and monitoring trades of Arbitrage and options trading clients.
- Review of F&O positions against collateral.
- Training of various risk team members and allocating KRA.
- Review of Policies and making necessary changess whenever required due to change in regulations or market scenarios.
Head Risk & Operations
Centrum Broking Limited
07.2014 - 06.2018
- Appointed as Money Laundering reporting Officer for Centrum Broking Limited
- Member of PMS Investment Committee
- Automation of various processes wherever possible to avoid manual errors
- Imparting training to all support functions on risk & compliance with perspective of PMLA guidelines
- Handling regulatory audits of SEBI, NSE, BSE and CDSL
- Ensuring appropriate policies are in place and yearly review of the same and make necessary corrections as and when required either by regulator or business
- Ensuring Closure of NSE/BSE transactional alerts and DP STR alerts.
- NBFC Credit Risk & Operations for LAS product.
Chief Risk Officer for Retail Capital Market Division
Edelweiss Group
02.2012 - 04.2014
- Selected as Advancing Leader at group level.
- Leading the Business risk team of 3 broking entities of Edelweiss group namely Edelweiss Securities Ltd, Edelweiss Broking Ltd & Edelweiss Financial Advisors.
- Setting up of centralized credit risk team across Retail Capital Market division of Edelweiss group across Retail Capital markets
- Ensure operational efficiency and high productivity through continuous review of processes with the objective of improving the service delivery time frames and identifying areas of improvement, driving changes.
- Developing proper risk culture across all employees
- Working closely with sales & products team for launching various products
VP – Risk and Operations
Kotak Securities Limited
12.2001 - 01.2012
- Joined as an Executive in December 2001 and was appointed Vice President In April 2009.
- Leading a team of 24 people monitoring daily exposures and margins for clients across all Indian branches, franchisees and three overseas branches for all Segments of various exchanges.
- Set up the Risk Management Operations department of NBFC and enabled growth of the margin finance book which was around 1800 crs in the peak of 2007.
- Setup of Risk Management Department for Commodity & Currency segment and enabled growth of physical delivery for various commodities for the commodity segment.
- Initiating process improvements, redesigning processes and building systems to improve efficiency.
- Interdepartmental coordinating, i.e., Legal, Compliance, secondary back office… to define new products and processes that meet regulatory and business requirements
- Leading a team of 5 people who look after client servicing and operational issues of all HNI clients for Mumbai
- Appointed as Service RM for a few HNI clients & franchisees.
Officer Risk & Compliance
E-First Global
01.2001 - 07.2001
- Reporting to Risk Manager regarding violations done by the clients
- Follow up with branches and sub brokers for margins and Mark to Market
- Setting exposure in software depending upon the margins.
Deputy Chief Accountant
Italab Private Limited
05.1999 - 08.2000
- Reported to Board of Directors on internal control procedures, budgetary control, and costing systems to ensure compliance and accountability.
- Prepared schedules for finalization of accounts, ensuring accuracy and timely reporting.
- Complying with all statutory audits and taxation matters
- Negotiated with banks to secure short-term and long-term loans
Education
Bachelor of Commerce -
Mumbai University
PGDM - Banking Investment & Insurance
Welingkar Institute
Advance Diploma -
Business administration
CA Inter - New Delhi
ICAI
Certified Course - CARE
Credit Management
Independent Directors Exam -
Skills
- Enterprise risk
- Operational risk
- Risk management
- Regulatory compliance
- Portfolio risk management
- Risk reporting
- Stress testing
- Key risk indicators
- Credit portfolio analysis
- Commodity risk assessment
- Cash flow forecasting
- Continuity planning
- Process improvement
- Management team leadership
Timeline
Chief Risk Officer
SBICAP Securities Limited
09.2025 - Current
Head of Risk Management & Surveillance
Bajaj Financial Securities Limited
01.2025 - 09.2025
COO, Head Operations, Risk & Surveillance
Cholamandalam Securities Ltd
03.2023 - 02.2024
JGM & Head of Risk & Surveillance
Axis Securities Limited
01.2020 - 03.2023
Sr VP & Head of Risk
JM Financial Services Limited
06.2018 - 12.2019
Head Risk & Operations
Centrum Broking Limited
07.2014 - 06.2018
Chief Risk Officer for Retail Capital Market Division
Edelweiss Group
02.2012 - 04.2014
VP – Risk and Operations
Kotak Securities Limited
12.2001 - 01.2012
Officer Risk & Compliance
E-First Global
01.2001 - 07.2001
Deputy Chief Accountant
Italab Private Limited
05.1999 - 08.2000
Bachelor of Commerce -
Mumbai University
PGDM - Banking Investment & Insurance
Welingkar Institute
Advance Diploma -
Business administration
CA Inter - New Delhi
ICAI
Certified Course - CARE
Credit Management