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

• 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.
• 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
• 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.
• 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,
please fill out this form.
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