Compliance Laed

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 Financial Services 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 Senior Manager who is well-versed in the current legal /
regulatory frameworks applicable for Banks, Non Bank Financial Sectors, Insurance sector 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 ideal candidate should be self-motivated and should be able to think creatively about leveraging
technology to improve business processes and related compliance programs. The role will report into the
Director, Compliance at PhonePe and will interface with stakeholders from legal ,risk teams, product
teams, business teams and mid-level management to build compliance policies and implement
procedures.
As such, 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. The mission would be to ideate and implement industry defining
compliance standards and practices at PhonePe.

Roles & Responsibilities:

1. Regulatory Implementations Charter:
○ Read through all 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.
○ Once the regulatory framework for the product is defined, work closely with various
stakeholders from Legal, Business and Product to ensure these regulatory requirements
are discussed in detail with them as and when they are released by the authorities.
○ ETAs and Timelines to implementation is to be discussed and finalized 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 within or outside of the company as well as
evolving best practices in compliance controls and leverage the same to implement better
and current compliance standards.
2. 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.
○ ETAs and Timelines to implementation of policies and procedures are to be discussed
and finalized with all relevant stakeholders.
○ Share regular and timely updates with all relevant stakeholders with regards to the
progress on the formulation of the policies and procedures.
○ Collect and Store relevant evidence such as approval on policies received from
stakeholders, Board Approvals, etc., received from stakeholders from the various policies
implemented, for future Audit requirements.
○ They would work closely with the Senior Manager 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.
3. Regulatory and Compliance Audits
○ Act as Nodal Officer for the organization ,manage communications with Regulator as and
when required
○ Ensure that Non IT regulatory requirements are tracked and continuously monitored.
○ Plan audit calendars and schedule the same for all Non IT Audits such as Statutory
Audits, Regulatory Audits, Nodal/Escrow Audits and other External Audits.
○ Plan and Oversee delivery of all Non IT audits, including managing discussions with
auditors and regulators.
○ Be an active participant in all the Non IT audits and act as POC for all escalations for any
audit related activities.
○ 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.
4. Periodic Risk Assessments:
○ Spearhead the Risk Assessments charter for PhonePe.
○ Work closely with relevant stakeholders from PhonePe and Walmart to define the
inherent risks pertaining to the products under the Risk Assessment purview.
○ Formulate questions and observations on the current state of controls implemented that
mitigate the known inherent risks associated with the products under review.
○ Collect and review responses received from various stakeholders and understand the
current level of risk exposure.
○ Work with compliance analysts to procure current data on the operations of the product
under review.
○ Formulate the report on the current state of risk exposure and mitigation available on the
product and also outline your recommendations to strengthen the current controls, if any.
○ Circulate and obtain approval for the risk assessment report in a timely manner with all
relevant stakeholders.

5. Team Building and Management Reporting
○ They should also have relevant team building and managing experience. Preferably
managed a team of 5+ members for a period of over 5+ years.
○ 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.
○ They would also be responsible for helping evaluate and hiring the right talent for the
right roles.
○ Would work closely with the Senior Manager to build the team's inherent skills and
capabilities by facilitating learning and skill up programmes for the team.
Basic and Advanced Qualifications:
○ Any Post Graduate in Finance and Risk Management / MBA / CA / CS with at least 6+
years of experience in the Financial Service 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 fintechs industry along with Indian regulations and current market practices.
○ 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.
○ 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.
○ Must have advanced excel skills and be able to demonstrate the same.

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

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