Associate Manager, Compliance Testing and Monitoring

1 month ago

Bengaluru, India PhonePe 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 : Control Testing and Monitoring

About the Team: -


The PhonePe Financial Services Compliance team plays a critical role in the successful execution of the firm &
compliance mission. The Compliance function ensures the development and maintenance of a strong compliance
culture 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
& compliance control environment. The Associate Manager Compliance Testing role is relatively new within the
PhonePe Compliance & Regulatory Management team with responsibility for oversight of consistent implementation of
policies & practices whilst ensuring country nuances are adopted to consider local laws and regulations. Such
practices will include a common approach and framework for risk assessment, monitoring, testing and surveillance
activities.
The Compliance Testing Assistant Manager is responsible for the timely and effective management and execution of
the Regional Compliance Testing program. As a member of the PhonePe Compliance Testing team, the individual
reports into the Manager, Compliance and will be based in Bangalore, India. The individual should have an audit or
compliance monitoring/testing background with a strong risk and control mindset, proven record of success in Data
Analytics and is responsible to assess compliance with regulations and policies through reviews conducted across the
various product types and instrument types used or issued within PhonePe and affiliated businesses.

Roles and Responsibilities:
 Contribute and point-out risks of the product/service during pre-planning work.
 Prepare the control checklist required for the review for each regulatory and unregulated functions.
 Designing work programs and executing steps, meeting deadlines to evaluate compliance with rules and
regulations.
 Interacting with senior heads of business and compliance as part of scoping, control design assessment,
reporting findings and offering solutions to address control gaps or enhance processes.
 Formulate questions to be asked during walkthroughs and lead walkthroughs when called upon
 Identify controls after attending a walkthrough, specifically those related to the risks noted
 Provide rough drafts of issue documentation, identifying the important parts required.
 Define testing scripts, coordinate with respective development teams to run the same during the review
process and evaluate the outcome along with the manager.


Role Requirements:
Good eye for detailing with respect to each product regulations and controls 
 Inclination and focus on Controls Testing (which very importantly includes (i) assessing the
design of controls, and (ii) whether the controls are operating effectively) would be a good
candidate. The would be the key & critical foundation. Basic AML/ OFAC experience would be
preferred.
 At least 3 to 6 years of audit, compliance testing or monitoring, or relevant Compliance
experience.
 Passion for technical compliance and be interested in conducting wide-scale investigative
reviews.
 Have a good appreciation of the regulations applicable in India and APAC.
 Highly detail-oriented, motivated, curious individual with good time-management skills,
analytical and communication skills
 Quick and sharp individual who relishes the challenges of understanding and interpreting
regulations and processes across different businesses and jurisdictions.
 Strong communication, interpersonal and influencing skills. The candidate should have the
ability to establish credibility and strong partnerships with senior business leaders, control
functions and corporate partners globally.
 Fluency in written and spoken English is a must have. Excellent written skills, and ability to
prepare clear, concise reports with minimal supervision.
 Have an audit and / or relevant industry qualifications, or a university degree.
 Proficiency in Excel and SQL is a preferred skill to have.

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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