Manager, Payments Compliance

1 Month ago • 6 Years +

Job Summary

Job Description

PhonePe is India's leading digital payments company, aiming to provide equal opportunities for progress to all Indians. The Ethics and Compliance team is crucial for executing the company's mission, with the Payments Compliance function ensuring a strong compliance culture. This role involves developing and maintaining program infrastructure to monitor compliance with global laws and regulations. The company seeks an experienced Compliance Manager well-versed in regulatory frameworks for Banks, Non-Bank Financial Sectors, and corporate governance. Responsibilities include program management for regulatory implementations, risk assessment, licensing, training, and developing policies and procedures across the PhonePe ecosystem. The ideal candidate will have high ethical standards, prior regulatory compliance experience, and strong communication and problem-solving skills.
Must have:
  • 6+ years experience in Payments Compliance
  • Proven track record as a team lead/manager
  • In-depth knowledge of Indian financial regulations
  • Well-versed with RBI, NPCI, NBBL, KYC guidelines
  • Excellent reporting and record-keeping knowledge
  • Analytical and problem-solving skills
  • High ethical standards
Good to have:
  • Post Graduate in Finance and Risk Management / MBA / CA / CS
  • Subject matter expert in Indian Financial Services Industry
  • Experience in fraud control and risk categorization
  • Certified compliance professional
Perks:
  • Medical Insurance
  • Critical Illness Insurance
  • Accidental Insurance
  • Life Insurance
  • Employee Assistance Program
  • Onsite Medical Center
  • Emergency Support System
  • Maternity Benefit
  • Paternity Benefit Program
  • Adoption Assistance Program
  • Day-care Support Program
  • Relocation benefits
  • Transfer Support Policy
  • Travel Policy
  • Employee PF Contribution
  • Flexible PF Contribution
  • Gratuity
  • NPS
  • Leave Encashment
  • Higher Education Assistance
  • Car Lease
  • Salary Advance Policy

Job Details

About PhonePe Group: 

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!

The PhonePe Ethics and Compliance team plays a critical role in the successful execution of the firm's ethical and compliance mission. The Payments Compliance function at PhonePe, ensures the development and maintenance of a strong compliance culture within the company 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 environment. 

We are looking for an experienced Compliance Manager who is well-versed in the current regulatory frameworks applicable for Banks, Non Bank Financial Sectors and corporate governance best practices in order to support all aspects of PhonePe’s regulatory compliance practices including program management for various regulatory implementations, risk assessment, licensing, training and building and implementing policies and procedures across the entire PhonePe ecosystem. 

The role demands that you are a professional of high ethical standards with prior regulatory compliance experience and are able to work diligently to complete your duties either independently or otherwise, keeping in mind the objectives of PhonePe. You must be comfortable communicating with various stakeholders to deliver compliance objectives and be result-oriented to ensure that your requirements are delivered on time. 

Roles & Responsibilities: 

Regulatory Implementations Charter: 

○ Work closely with Business on implementing relevant regulatory guidelines applicable for the product in review and based on that understanding formulate a project plan that would ensure compliance to all Non-IT regulations as stated in the regulatory guidelines. 

○ ETAs and Timelines to implementation is to be tracked and closed with all relevant stakeholders. 

○ Share regular and timely updates with all relevant stakeholders with regards to the progress on the ongoing regulatory implementations. 

○ Collect and Store relevant evidence, received from stakeholders from the various implementations done, for future Audit requirements.

○ Responsible for formulating and providing compliance certifications on all regulatory implementations carried out on a periodic basis with various 

stakeholders. 

○ Keep abreast of all regulatory developments as well as evolving best practices in compliance controls and leverage the same to implement better and current compliance standards. 

○ Assist during regulatory inspections and ensure closure of the observations with multiple stakeholders 

○ Liaise with internal stakeholders to explain the audit requirements and observations in a timely fashion. 

○ Support management to compile, maintain and close-out audit finding responses, implementation of controls as per audit recommendations, etc. and ensure all Non IT audit observations. 

Policies and Procedure Governance: 

○ Ensure review of all Non-IT related policies and procedures on a periodic basis or whenever there is change in process and place it for Management approvals to board on a timely fashion. 

○ Work with Business, Legal and Product stakeholders to build product (or) company specific Policies and Procedures whenever there is a new product being introduced to our platform. 

○ Work closely with the Senior Management to implement controls at regular intervals to ensure that compliance procedures are regularly followed. 

○ They would regularly help evaluate the efficiency of compliance implemented processes and controls and work to improve them continuously. 

○ They would be responsible for documenting and operationalising compliance related processes to ensure adherence to regulatory guidelines or internal policy. 

Team Building and Management Reporting 

○ Should have previously helped in building and managing high performing team members and be able to build growth charters for each of their team members. 

○ Prepare and maintain reports and KPIs for the Compliance team to ensure processes are healthy and functional. 

Basic and Advanced Qualifications:

  • Any Post Graduate in Finance and Risk Management / MBA / CA / CS with at least 6+ years of experience in the Payments Compliance space and a proven track record as a team lead or manager. 
  • In-depth knowledge on the compliance environment of the banking / payment / insurance and fintech’s industry along with Indian regulations and current market practices. 
  • Well versed with the RBI, NPCI, NBBL and KYC guidelines for payments products.
  • A subject matter expert with comprehensive knowledge on the Indian Financial Services Industry and its guiding regulations, fraud control environment, risk categorization methodologies and is able to create, monitor and evaluate policies and procedures. 
  • Excellent knowledge of reporting procedures and record keeping guidelines. ● Ability to communicate clearly and precisely to the point. 
  • Has an analytical mind able to “see” the complexities of procedures and regulations. ● Is a problem solver and always ready to take ownership of deliverables assigned. 
  • Has high ethical standards and is able to work diligently to complete your duties. 
  • Certified compliance professional is 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.

Life at PhonePe

PhonePe in the news

Similar Jobs

Alpha Sense - Global Strategic Account Executive

Alpha Sense

New York, New York, United States (Hybrid)
8 Months ago
Shield AI - Lead Survivability Engineer (Dallas) (R3524)

Shield AI

Dallas, Texas, United States (On-Site)
1 Week ago
Kulfi Collective - Lead - Talent & Community Management

Kulfi Collective

Mumbai, Maharashtra, India (On-Site)
1 Month ago
Zamp - Founder's Office - Strategy & Operations Associate

Zamp

Bengaluru, Karnataka, India (On-Site)
1 Year ago
Zelis  - Team Lead, Data Analysis

Zelis

Hyderabad, Telangana, India (On-Site)
2 Weeks ago

Get notifed when new similar jobs are uploaded

Similar Skill Jobs

Trellix - Software QA Engineer

Trellix

Bengaluru, Karnataka, India (On-Site)
2 Months ago
Pomelo - Market Operations Lead (2pm-10pm ET Shift)

Pomelo

United States (Remote)
2 Weeks ago
Roof Stacks - Scrum Master

Roof Stacks

Istanbul, İstanbul, Türkiye (Hybrid)
3 Months ago
Rolls-Royce - Programme Manager

Rolls-Royce

Shanghai, China (On-Site)
2 Months ago
Motorola solutions - Sales Operations Manager

Motorola solutions

Westminster, Colorado, United States (On-Site)
3 Weeks ago
Trellix - Site Reliability Engineer

Trellix

Cork, County Cork, Ireland (On-Site)
2 Months ago
Saronic Technologies - Supplier Quality Engineer

Saronic Technologies

Austin, Texas, United States (On-Site)
1 Week ago
Neolytix - Healthcare B2B Sales Development Representative

Neolytix

Chicago, Illinois, United States (Hybrid)
2 Weeks ago
AGS - American Gaming Systems - Finance Manager

AGS - American Gaming Systems

Nevada, United States (On-Site)
5 Months ago
Tesla - Operations Coordinator, Fleet - West

Tesla

North Holland, Netherlands (On-Site)
5 Months ago

Get notifed when new similar jobs are uploaded

Jobs in Bengaluru, Karnataka, India

Intel  - Physical Design Engineer

Intel

Bengaluru, Karnataka, India (On-Site)
3 Weeks ago
Qualcomm - WLAN Software Engineer Sr.

Qualcomm

Bengaluru, Karnataka, India (On-Site)
2 Months ago
Qube Cinema - Brand Manager

Qube Cinema

Chennai, Tamil Nadu, India (On-Site)
1 Month ago
luxsoft - Senior QA Automation Engineer

luxsoft

Bengaluru, Karnataka, India (On-Site)
2 Months ago
zeta - Manager/Senior Manager - Communications & Media Relations

zeta

Bengaluru, Karnataka, India (On-Site)
2 Months ago
Liquid Asia - Tell Us Who You Are!

Liquid Asia

Mumbai, Maharashtra, India (On-Site)
2 Months ago
Nice - Senior Specialist APS Engineer

Nice

Pune, Maharashtra, India (Hybrid)
1 Month ago
zeta - Senior Product Manager

zeta

Bengaluru, Karnataka, India (On-Site)
5 Months ago
Capgemini - SAP CAR Consultant

Capgemini

Tiruchirappalli, Tamil Nadu, India (On-Site)
3 Weeks ago
Siemens  - Senior Cybersecurity Expert (M365)

Siemens

Bengaluru, Karnataka, India (Hybrid)
1 Week ago

Get notifed when new similar jobs are uploaded

Similar Category Jobs

Looks like we're out of matches

Set up an alert and we'll send you similar jobs the moment they appear!

About The Company

PhonePe was founded in December 2015 and has emerged as India’s largest payments app, enabling digital inclusion for consumers and merchants alike. With 48 crore (480 Million) registered users, one in four Indians are now on PhonePe. The company has also successfully digitized 3.6 crore (36 Million) offline merchants spread across Tier 2,3,4 and beyond, covering 99% of the postal codes across India. PhonePe is also the leader in Bharat Bill Pay System (BBPS), processing over 45% of the transactions on the BBPS platform. PhonePe forayed into financial services in 2017, providing users with safe and convenient investing options on its platform. Since then, the company has introduced several Mutual Funds and Insurance products that offer every Indian an equal opportunity to unlock the flow of money and access to services. PhonePe was recently recognized as the Most Trusted Brand for Digital Payments as per the Brand Trust Report 2023 by Trust Research Advisory (TRA).



Bengaluru, Karnataka, India (On-Site)

Bengaluru, Karnataka, India (On-Site)

Bengaluru, Karnataka, India (On-Site)

Bengaluru, Karnataka, India (On-Site)

Bengaluru, Karnataka, India (On-Site)

Mumbai, Maharashtra, India (On-Site)

Bengaluru, Karnataka, India (On-Site)

Bengaluru, Karnataka, India (On-Site)

Bengaluru, Karnataka, India (On-Site)

Bengaluru, Karnataka, India (On-Site)

View All Jobs

Get notified when new jobs are added by PhonePe

Level Up Your Career in Game Development!

Transform Your Passion into Profession with Our Comprehensive Courses for Aspiring Game Developers.

Job Common Plug