Compliance Lead, Financial Services Compliance

Manager - Monitoring and Testing

About PhonePe

PhonePe is India’s leading digital payments platform with over 230 million registered users. Using PhonePe, users can
send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold, and make
investments. PhonePe went live for customers in August 2016 and was the first non-banking UPI app and offered
money transfer to individuals and merchants, recharges and bill payments to begin with. In 2017, PhonePe forayed
into financial services with the launch of digital gold, providing users with a safe and convenient option to buy 24-karat
gold securely on its platform. PhonePe has since launched Mutual Funds and Insurance products like tax saving
funds, liquid funds, international travel insurance, Corona Care, a dedicated insurance product for the COVID-19
pandemic among others. PhonePe launched its Switch platform in 2018, and today its customers can place orders on
over 200 apps including Ola, Myntra, IRCTC, Goibibo, RedBus, Oyo etc. directly from within the PhonePe mobile app.
PhonePe is accepted at over 11 million merchant outlets across 500 cities nationally.

Culture
At PhonePe, we take extra care to make sure you give your best at work, Everyday! And creating the right
environment for you is just one of the things we do. We empower people and trust them to do the right thing. Here, you
own your work from start to finish, right from day one. Being enthusiastic about tech is a big part of being at PhonePe.
If you like building technology that impacts millions, ideating with some of the best minds in the country and executing
on your dreams with purpose and speed, join us!

Challenges
Building for Scale, Rapid Iterative Development and Customer-centric Product Thinking at each step defines every day
for a developer at PhonePe. Though we engineer for a 50million+ strong user base, we code with every individual user
in mind. While we are quick to adopt the latest in Engineering, we care utmost for security, stability, and automation.
Apply if you want to experience the best combination of passionate application development and product-driven
thinking.

About the Team: -

The PhonePe AML Compliance team plays a critical role in the successful execution of the firm’s compliance mission.
The AML Compliance function ensures the development and maintenance of a strong compliance culture by
developing and maintaining program infrastructure that identifies, measures and monitors compliance with applicable
laws, regulations and rules that govern our business globally.
Compliance teams work closely with business, legal, risk, and audit functions to provide expertise on regulatory
compliance matters, assess and measure compliance and related risks, and monitor and test the adequacy of the
firm’s compliance control environment. The AML Testing role is a relatively new one within the PhonePe Compliance &
Regulatory Management team with responsibility for oversight of the consistent implementation of policies & practices
whilst ensuring country nuances are adopted to consider local laws and regulations. Such practices will include a
common approach and framework for risk assessment, monitoring, testing and surveillance activities. The Compliance
Testing Manager is responsible for the timely and effective management and execution of the Regional Compliance
testing program. As a member of the PhonePe Compliance Testing team, the individual reports into the Senior
Manager, AML Compliance and is based in Bangalore, India. The individual should have an audit or compliance
monitoring/testing background with a strong risk and control mindset and is responsible to assess compliance with
regulations and policies through reviews conducted across the various product types and instrument types used or
issued within PhonePe and affiliated businesses. Attend the walkthroughs and perform the control design
effectiveness assessments (CDEA) for all financial services products /functions within PhonePe.

Roles and Responsibilities:
 Participate in internal brainstorming sessions, to identify and point-out potential risks arising out of the
products/services in scope of the review during pre-planning stage.
 Prepare the control checklist required for the review for each regulated and unregulated functions.
 Define test scripts, coordinate with respective analytics teams to execute the same during the review
validation and evaluate the outcome along with the manager.
 Formulate queries, lead process walkthroughs with key business stakeholders and document the outcome
with thorough identification of risks and controls.
 Ensure strict adherence to Compliance Testing and Monitoring methodology when defining scope of review,
devising and executing test steps, documenting findings and sending business communications.
 Deliver review workpapers on time during various stages of the Compliance Testing process in line with the
proposed SLAs in methodology and thus ensure the overall review timelines are met appropriately.

Manager - Monitoring and Testing
 Engage with senior heads of business and compliance as part of scoping, control design assessment,
reporting findings and offering solutions to address control gaps or enhance processes.
 Document workpapers and issue summary in a precise and concise manner so to be understood and
reperformed by an independent person.
Role Requirements:
 Ideal candidate is from a Compliance Assurance background (preferably from a financial service e.g., banks,
NBFC, Fintech etc.,) or is a former financial services /industry employee that has led audits/ examinations/
compliance reviews /quality assessments /quality tests where the focus was Controls Testing encompassing
assessing the design of operating effectiveness of controls.
 Incumbent that the candidate has a deep understanding and experience on AML, KYC, Sanctions processes
within the financial services space.
 Preferably 6 to 8 years of audit, compliance testing or monitoring, or relevant Compliance experience.
 Strong knowledge and understanding of Stock Broking business is preferred.
 Passion for technical compliance and be interested in conducting wide-scale investigative reviews.
 Have a good appreciation of the regulations applicable in India and Asia Pacific.
 Highly detail-oriented, motivated, curious individual with good time-management skills, analytical and
communication skills.
 Quick and sharp individual who relishes the challenges of understanding and interpreting regulations and
processes across different businesses and jurisdictions.
 Strong communication, interpersonal and influencing skills. The candidate should have the ability to establish
credibility and strong partnerships with senior business leaders, control functions and corporate partners
globally and manage escalations suitably.
 Fluency in written and spoken English is a must have. Excellent written skills, and ability to prepare clear,
concise narratives and reports with minimal supervision.
 Have an audit and / or relevant industry qualifications, or a university degree.
 Proficiency in Excel and SQL is a preferred skill to have.