RTA jobs and the NISM Series II-B requirement
Mutual fund RTA work runs on one certificate. Which roles need it, what the jobs involve, and when to sit the exam.
Yes, for most mutual fund RTA jobs. NISM's communique of August 3, 2009 makes Series II-B the required standard for associated persons of a Registrar to an Issue and Share Transfer Agent who deal with investors or issuers or carry out the RTA's regulated work in the mutual fund function. The wording covers people who are employed, and people who are to be employed. NISM's FAQ states no grace period for new joiners, so do not count on one.
The two leading mutual fund RTAs are CAMS (Computer Age Management Services) and KFintech (KFin Technologies). Both are SEBI-registered, both run Investor Service Centres across the country, and both fall under the same requirement. If your target is mutual fund operations at either, plan to hold Series II-B.
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RTA roles and what the exam covers for each
Illustrative job families in a mutual fund RTA, mapped to the II-B workbook units they draw on. Whether a specific role must hold the certificate is your employer's compliance call.
Investor Service Centre (ISC) executive
Day-to-day work
Accepting and time stamping applications, checking forms, answering walk-in investors
II-B units it uses
6, 11, 12
Transaction processing
Day-to-day work
Purchases, redemptions, switches, SIP, STP and SWP instalments, applicable NAV
II-B units it uses
11, 14
Banking and reconciliation
Day-to-day work
Matching money received to applications, third-party checks, payouts to verified accounts
II-B units it uses
13
KYC and investor records
Day-to-day work
KYC status, PAN validation, FATCA, nomination
II-B units it uses
12
Non-financial services
Day-to-day work
Change of bank, address or name, minor to major, transmission, pledge
II-B units it uses
15
Distributor services
Day-to-day work
Distributor queries, monthly sales statements, commission data for the AMC
II-B units it uses
6, 14
Complaints and call centre
Day-to-day work
Investor queries and grievances within SEBI timelines
II-B units it uses
12, 15
Compliance, audit and risk
Day-to-day work
Regulatory reporting, internal controls, cyber security framework
II-B units it uses
5, 7
| Role | Day-to-day work | II-B units it uses |
|---|---|---|
| Investor Service Centre (ISC) executive | Accepting and time stamping applications, checking forms, answering walk-in investors | 6, 11, 12 |
| Transaction processing | Purchases, redemptions, switches, SIP, STP and SWP instalments, applicable NAV | 11, 14 |
| Banking and reconciliation | Matching money received to applications, third-party checks, payouts to verified accounts | 13 |
| KYC and investor records | KYC status, PAN validation, FATCA, nomination | 12 |
| Non-financial services | Change of bank, address or name, minor to major, transmission, pledge | 15 |
| Distributor services | Distributor queries, monthly sales statements, commission data for the AMC | 6, 14 |
| Complaints and call centre | Investor queries and grievances within SEBI timelines | 12, 15 |
| Compliance, audit and risk | Regulatory reporting, internal controls, cyber security framework | 5, 7 |
When and how to get it as a job seeker
- 1
1. Check the exam name
Book NISM-Series-II-B: Registrars to an Issue and Share Transfer Agents (Mutual Fund). Series II-A is the corporate RTA exam. NISM does not let you change the module after enrolment.
- 2
2. Register and book a slot
There is no fixed exam date. You register on NISM's portal, pay ₹1,500 plus payment gateway charges, and pick a test centre slot. Anyone can apply; no degree or job is required.
- 3
3. Prepare on the workbook
The NISM workbook has 15 units, from securities basics to non-financial transactions. Units 11 to 15 are the RTA's daily work and the hardest to fake in an interview.
- 4
4. Sit the paper
100 questions in 2 hours, no negative marking, pass at 50 out of 100 (50%).
- 5
5. Make sure PAN is on your profile
NISM issues the passing certificate only to candidates who have given their PAN. Add it before the exam to avoid a delay.
- 6
6. Track the expiry
The certificate is valid for 3 years from the exam date. Renew it through NISM's Series II-B CPE programme or by passing the exam again before it lapses.
Free account, this exam preselected.
Before or after the offer letter?
Before, if you can. A candidate who already holds the certificate meets the requirement on day one, and has already learnt the cut-off times, turnaround times and document rules the job runs on.
If you are hired without it, expect your employer to ask you to pass it quickly. The NISM wording covers people to be employed, so do not assume you can work in a covered function for long without it. Your compliance team sets the deadline.
Which NISM exam for which mutual fund job
| Job | Exam |
|---|---|
| Mutual fund operations at an RTA (CAMS, KFintech) | Series II-B |
| Share registry, IPO or corporate actions work at an RTA | Series II-A |
| Selling mutual funds, as a distributor or bank relationship staff | Series V-A |
| Mutual fund operations inside an AMC | Ask the AMC: the RTA mandate covers RTA staff, and AMC roles have their own requirements |
RTA job questions
Is NISM Series II-B mandatory for CAMS and KFintech jobs?expand_more
For staff in the mutual fund R&T function who deal with investors, process applications, handle redemptions, grievances, controls or compliance, yes. It is the standard NISM's 2009 communique sets for associated persons of an RTA. Support functions outside those activities may not need it; your employer decides.
Can a fresher take NISM Series II-B?expand_more
Yes. There is no minimum qualification or experience. Students and anyone else may sit the exam, and many take it before applying.
Does NISM Series II-B guarantee a job?expand_more
No. It meets a regulatory requirement for the role. Hiring depends on the employer.
What salary does an RTA job pay?expand_more
We do not publish salary figures because we could not verify them from an official source. Check current job postings and the employer directly.
My certificate has expired. Can I keep working?expand_more
Not in a covered function. Renew through NISM's CPE programme or pass the exam again. The renewal page explains the timing.
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