Associate Director, Legal

About PhonePe Limited Headquartered in India its flagship product the PhonePe digital payments app was launched in Aug 2016 As of April 2025 PhonePe has over 60 Crore 600 Million registered users and a digital payments acceptance network spread across over 4 Crore 40 million merchants PhonePe also processes over 33 Crore 330 Million transactions daily with an Annualized Total Payment Value TPV of over INR 150 lakh crore PhonePe s portfolio of businesses includes the distribution of financial products Insurance Lending and Wealth as well as new consumer tech businesses Pincode - hyperlocal e-commerce and Indus AppStore Localized App Store for the Android ecosystem in India which are 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 go the extra mile to make sure you can bring your best self to work Everyday And that starts with creating the right environment for you We empower people and trust them to do the right thing Here you own your work from start to finish right from day one PhonePe-rs solve complex problems and execute quickly often building frameworks from scratch If you re excited by the idea of building platforms that touch millions ideating with some of the best minds in the country and executing on your dreams with purpose and speed join us Title Associate Director- Legal and Regulatory Insurance About PhonePe Insurance Broking Services PIBS PIBS is a Direct Insurance Broker Life and General duly registered with Insurance Regulatory and Development Authority of India IRDAI since August 2021 PIBS offers and services various personal line insurance products through its Insurance Self Network Platform ISNP It has partnered with 32 Insurance companies across India and serves 99 pin codes through its digital reach The Role Part of BFSI Regulatory and Legal team with experience in any one of the BFSI sectors in this case Insurance company or intermediary and open to work for all BFSI sectors as per need of the organization from time to time The role may regulatory engagement on new regulations whitepapers preparation finalization presentation of applications including license registration application to the Regulators tracking Regulatory developments preparation of Regulatory manuals for internal teams interpretation of regulations providing opinions on regulatory matters coordination with internal teams assisting in updating or drafting new polices SOPs on the basis of regulatory developments Have experience of Regulatory Interactions not limited to audits inspections along with strong commercial business understanding and contract negotiating skills Assist in developing standards for BFSI which are aligned to the Regulations Regulatory Requirements and Internal policies Procedures Description of work areas A Insurance Legal Advice Business Operations team and Technology teams on Insurance products processes systems Contracts Partnerships obligation mapping supporting integration audits MIS requirements etc Legal cases claims - Interactions with Partner Insurance Providers for PIBS to assess behavior regional frauds etc New Product Lines Research legal view possibilities penalties Coordinate with other internal teams for implementation of regulatory asks B Regulatory Providing legal advice to business compliance tech operations product on day to day operations of the business Preparing reviewing and filing the new or renewal license applications and managing database for license applications and regulatory correspondence Interacting with Regulators and key stakeholders on a regular basis in relation to applications licenses queries new regulations draft regulations Preparation of Regulatory Manuals Guardrails for business including for any scheduled unscheduled inspection by Regulators Regulatory Engagement License related new renew maintain business awareness intelligence Participation in relevant forums and with the regulator on new regulations notifications circulars Exposure Drafts enable regular meetings at IRDAI etc Handhold business teams on regulatory matters C Process Communications with relevant internal and external parties - business teams Compliance Tech or operations teams for resolution of their queries SOPs Legal frameworks operating boundaries to be published to provide guiding principles for teams creating awareness in stakeholders Liaison with internal teams including with Compliance Identity and list down key risk areas for the business D Domain Expertise Partner with business on new ideas be open and express opinion Partner with external legal teams of insurance cos to know trends and issues Help negotiate with partners legal risk and compliance teams Ideal Candidate LL B LLM Minimum 15 years post-qualification experience Worked in Insurance company insurance intermediary for major part of career Should be open to work in all BFSI sectors A right mix of law firm and in-house counsel experience in Insurance or Stock Broking or other financial services would be preferred Have strong drafting and communication skills Overall good legal knowledge financial sector laws corporate law business laws data privacy info sec standards etc Experience of interaction with BFSI Regulators Expectations other than qualification technical experience High degree of professional ethics and integrity good analytical skills and interpersonal skills Willingness to learn improve and challenge the status quo for the better Location Bangalore 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 Our inclusive culture promotes individual expression creativity innovation and achievement and in turn helps us better understand and serve our customers We see ourselves as a place for intellectual curiosity ideas and debates where diverse perspectives lead to deeper understanding and better quality results PhonePe is an equal opportunity employer and is committed to treating all its employees and job applicants equally regardless of gender sexual preference religion race color or disability If you have a disability or special need that requires assistance or reasonable accommodation during the application and hiring process including support for the interview or onboarding process Read more about PhonePe