Risk Investigator - AML Operations (Transaction Monitoring & FIU Reporting)

Position: Risk Investigator - AML Operations (Transaction Monitoring & FIU Reporting)

About PhonePe

PhonePe is India’s leading digital payments company with 50 crore (500 Million) registered users and 3.7 crore (37 Million) merchants covering over 99% of the postal codes across India. On the back of its leadership in digital payments, PhonePe has expanded into financial services (Insurance, Mutual Funds, Stock Broking, and Lending) as well as adjacent tech-enabled businesses such as Pincode for hyperlocal shopping and Indus App Store which is India's first localized App Store. The PhonePe Group is a portfolio of businesses aligned with the company's vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.

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!

About the Team: -

Join the dynamic PhonePe AML Operations team, contributing to the Trust & Safety initiative aimed at enhancing the security and reliability of PhonePe products. This high-impact team focuses on mitigating ML/TF risks through adept control implementation and swift actions. If you aspire to shape processes and digital tools, unravel financial transactions, and identify trends/patterns of concerns affecting millions of customers, seize the opportunity to collaborate with top-notch professionals and turn your dreams into reality with purpose and agility - this is your opportunity!

Roles & Responsibilities:

1. Demonstrate a strong understanding of Anti Money Laundering & Fraud Workflow, specifically in Transaction Monitoring & Sanctions.
2. Knowledge of PMLA Act, onboarding workflow, risk categorisation, trends / patterns of concerns in customer transactions
3. Perform daily Transaction Monitoring alert mitigation with an investigative mindset.
4. Identify and research patterns, trends, and anomalies in complex transactional and customer data to detect, prevent, mitigate, and report suspicious activity related to ML/TF.
5. Draft Grounds of Suspicion (GOS) and file Suspicious Activity Reports/Suspicious Transaction Reports (SAR/STR) to the Financial Intelligence Unit (FIU-IND).
6. Able to work individually on projects and ad-hoc tasks including LEA data requests.
7. Collaborate within the team and with external stakeholders to achieve team goals.
8. Understand and identify Red Flag Indicators/Anomalies on various products, services, and workflows within PhonePe ecosystem.
9. Suggest process improvements, identify challenges, and seek automation opportunities to enhance operational efficiencies across various business/product verticals.
10. Stay updated on the latest and emerging trends in the Fraud & Anti Money Laundering domain overall.

Education & Preferred Qualifications:

Requirements include, but are not limited to:

1. Graduate Degree; MBA or other postgraduate degree is a plus.
2. Candidates with experience in the FinTech/Payments industry (Prepaid Instruments, PA/PG, TPAP) are highly preferred.
3. Minimum 2-3 years of relevant experience in Anti Money Laundering Investigations, Transaction Monitoring, and data analysis (Payments Sector experience preferred).
4. Good understanding of Know Your Customer, Customer Onboarding, Risk categorization, and Transaction Monitoring.
5. Any AML-related certification is an added advantage.
6. Team player with excellent drafting, strong interpersonal skills, and verbal communication.
7. Proficient in MS Office (Word/Excel/PowerPoint), and basic understanding of SQL would be a plus.

• PhonePe Full Time Employee Benefits (Not applicable for Intern or Contract Roles)

• Insurance Benefits - Medical Insurance, Critical Illness Insurance, Accidental Insurance, Life Insurance
• Wellness Program - Employee Assistance Program, Onsite Medical Center, Emergency Support System
• Parental Support - Maternity Benefit, Paternity Benefit Program, Adoption Assistance Program, Day-care Support Program
• Mobility Benefits - Relocation benefits, Transfer Support Policy, Travel Policy
• Retirement Benefits - Employee PF Contribution, Flexible PF Contribution, Gratuity, NPS, Leave Encashment 
• Other Benefits - Higher Education Assistance, Car Lease, Salary Advance Policy

Working at PhonePe is a rewarding experience! Great people, a work environment that thrives on creativity, the opportunity to take on roles beyond a defined job description are just some of the reasons you should work with us. Read more about PhonePe on our blog.

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