Associate Manager Consumer Payments Compliance

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!

Location: Bengaluru, India

Team: Payments Compliance

Position: Assistant Manager

Reports To: Senior Manager – Compliance

Job Responsibilities

• Assist in the comprehensive review of new products, features, and offerings on the PhonePe platform, ensuring zero go-lives without compliance sign-off.
• Partner with Product teams through the entire product lifecycle to proactively flag and resolve compliance and risk-related issues and maintain deviations observed.
• Assist in mapping preventative and detective controls to mitigate compliance risks, document requirements, and manage their implementation.
• Assist in establishing an efficient Regulatory Change Management (RCM) framework to track, summarize, and implement RBI and NPCI circulars/communications with satisfactory evidence on records.
• Ensure regulatory reports are validated and filed timely with regulators.
• 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.
• Assist in regulatory inspections, data validation and ensure audit preparedness throughout the processes designed.
• Handle and manage the GRC tool implementation
• Maintain oversight of key compliance metrics; prepare monthly Compliance Dashboards and trackers for governance forums.
• Keep abreast of all regulatory developments as well as evolving best practices in compliance controls and leverage the same to implement better and current compliance standards.
• Proactively pursue and implement automation and AI solutions to drive efficiencies in internal compliance processes.
  
  

• Any Post Graduate in Finance and Risk Management / MBA / CA / CS with at least 6+ years of experience in the Payments Compliance space.
• In-depth knowledge on the compliance environment of the banking / payment and fintech’s industry along with Indian regulations and current market practices.
• Well versed with the RBI, NPCI, NBBL and KYC guidelines for payments products, especially UPI and BBPS.
• Excellent knowledge of reporting procedures and record keeping guidelines.
• Ability to communicate clearly and precisely to the point.
• 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.
  
  

• 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