Compliance Lead, Financial Services Compliance

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.

The Compliance Testing 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 Senior 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:

• Lead and/or participate in internal brainstorming sessions, to identify and point-out potential risks arising out of the products/services in scope of the review during the pre-planning
• Prepare control checklist required for the review for regulated and unregulated functions.
• Define test scripts, coordinate with respective analytics teams to execute the same during the review validation and evaluate outcomes along with the manager/lead.
• Formulate queries, lead process walkthroughs with key business stakeholders and document the outcome with thorough identification of risks and controls.
• Ensure strict adherence to Compliance Testing and Monitoring methodology when defining scope of review, devising and executing test steps, documenting findings and sending business communications.
• Deliver review workpapers on time during various stages of the Compliance Testing process in line with the proposed SLAs in methodology and thus ensure the overall review timelines are met appropriately.
• Engage 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.
• Document workpapers and issue summary in a precise and concise manner so as to be understood and reperformed by an independent person.

Role Requirements:

• Ideal candidate is from a Compliance Assurance background (preferably from a financial service e.g., banks, NBFC, Fintech etc.,) or is a former financial services /industry employee that has led audits/ examinations/ compliance reviews /quality assessments /quality tests where the focus was Controls Testing encompassing assessing the design of operating effectiveness of controls.
• Preferred that the candidate has a good understanding and experience on AML, KYC, Sanctions processes within the financial services space.
• Preferably 6 to 8 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 Asia Pacific.
• 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 and manage escalations suitably.
• 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.