Job Description

Compliance Program Advisory plays a very crucial role in ensuring all functional units are duly guided during the development life cycle of the new product along with regular maintenance of the product on the platform. The unit also plays a very important role in managing the compliance requirements as per new regulatory guidelines from RBI, IRDA, SEBI, AMFI etc. and ensuring implementation of the same in various different products offered on the PhonePe platform. 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.

Role and Responsibilities:

• Maintain oversight of the developments in the regulatory environment to proactively manage the potential regulatory risk exposure of affected divisions/departments
• Advise business/support units on compliance laws, rules and standards, including keeping them informed of the developments in this area
• Focus on self- learning and development on all relevant guidelines in the areas of financial services products (Payments/ Insurance/ Investments etc.) and ensure reporting of the progress to sync in with departmental goal
• Educate staff on regulatory compliance issues and acting as point of contact for regulatory compliance queries from staff
• Perform gap analysis on new/revised guidelines issued by regulators and follow up on action plans on the implementation
• Act as face of the Compliance unit in discussion with product team to ensure all regulatory gaps are included in various product sprints and executed as per regulatory requirement
• Perform Pre-Prod Audits on the new product/ features on the platform and provide sign-off on the control testing reports
• Develop solutions to address specific challenges faced by the business units in regulatory compliance matters including impact assessments
• Provide detailed report to Director – FS on a quarterly basis of the review conducted in a quarter and critical gaps identified during the review along with status
• Assist the Director in providing updates to senior management on the critical compliance issues for immediate attention and escalations

Roles & Responsibilities

as above

Your Skills and experience

Your Experience and qualifications

• Any graduate with at least 10- 12 years of experience in Financial Service compliance space and a proven track record as a team lead or manager
• Experience in Insurance Industry (Prefer Principal officers , compliance persons from Insurance companies, Broking agencies etc Should have dealt with IRDA audits ,communicated with regulators actively on products ,compliance related matters etc )
• In-depth knowledge of the banking / payment industry standards, Indian regulations and current market practices. 
• A subject matter expert with comprehensive knowledge about AML/KYC policies, fraud control, risk categorization policies, monitoring, evaluation, review, and report associated with auditing.
• Excellent knowledge of reporting procedures and record keeping guidelines.
• Ability to communicate clearly and precisely to the point. 
• Demonstrate the ability to plan and execute projects single handedly.
• 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 are able to work diligently to complete your duties.
• Certified compliance professional is a plus.

Company Details

About Company

PhonePe

Company Information

PhonePe is India’s leading digital payments platform with over 280 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 300 apps including Ola, Myntra, IRCTC, Goibibo, RedBus, Oyo etc. directly from within the PhonePe mobile app. PhonePe is accepted at over 18 million merchant outlets across 500 cities nationally.

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