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Senior Manager -Product Risk Assessment /Product Advisory

Employer
PhonePE
Location
Bangalore Bangalore Karnataka, Karnataka, India
Salary
Competitive Salary
Closing date
Jun 24, 2024

View more

Job Role
Manager
Sector
Finance
Contract Type
Permanent
Hours
Full Time
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!

Role: Senior Manager , Product Risk Assessment /Program Advisory

Compliance Program Advisory Role 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.

About the role
  • Maintain oversight of the developments in the regulatory environment to proactively manage the potential regulatory risk/aml risk/kyc risk /ops risk /legal risk exposure of affected divisions/departments
  • Drive and Manage New product risk assessments on all new products and existing ones against rules and standards, keeping the stakeholders 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 like stock broking and mutual funds 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 all 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 - Compliance on a regular basis of the review conducted in a quarter and critical gaps identified during the review along with status
  • Assist the Manager in providing updates to senior management on the critical compliance issues for immediate attention and escalation

Min years of experience in Fintech companies : 8-14 years

Qualification: Post Graduate in Finance and Risk Management / MBA / CA / CS with at least 8+ years of experience in the Financial Service Compliance space and a proven track record as a team lead or manager

Experience in Banking, Payments , Fintech , NBFC . Should have dealt with RBI audits ,communicated with regulators actively on products ,compliance related matters etc

In-depth knowledge of the banking / payment industry standards, stock broking companies, 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 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 are just some of the reasons you should work with us. Read more about PhonePe on our blog.

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