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!
Industrial Trainee – Payments 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.
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 Intern, Payments Compliance
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 Payments Compliance Industrial Trainee is responsible for the timely and effective management
and execution of the Payments Compliance goals. As a member of the PhonePe Payments
Compliance team, the individual reports into the Manager, Compliance and will be based in
Bangalore, India. The individual should have flair for compliance and regulatory advisory with a strong
risk and control mindset, keen awareness and interest in research and analysis 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:
Assist the compliance team in monitoring and analysing changes in Indian payments
regulations, guidelines, and circulars issued by the RBI and other relevant bodies.
Assist in responding to queries from internal teams regarding compliance requirements.
Share regular and timely updates with all relevant stakeholders with regards to the progress
on the ongoing regulatory implementations.
Collect and Store relevant evidence, received from stakeholders from the various
implementations done, for future Audit requirements.
Support in formulating and providing compliance certifications on all regulatory
implementations carried out on a periodic basis with various stakeholders.
Help in documenting and updating internal compliance policies and frameworks in line with
regulatory changes.
Assist during regulatory inspections and ensure closure of the observations with multiple
stakeholders
Liaise with internal stakeholders to explain the audit requirements and observations in a
timely fashion.
Support management to compile, maintain and close-out audit finding responses,
implementation of controls as per audit recommendations, etc. and ensure all Non IT audit
observations.
Maintain accurate records of compliance activities and documentation.
Conduct research on specific compliance topics related to payments, including KYC/AML,
data localization, transaction monitoring, etc.
Role Requirements:
Good eye for detailing with respect to each product regulations and controls
Basic knowledge or keen interest in the Indian regulatory landscape, particularly concerning
financial services and payments (RBI guidelines, NPCI guidelines, PMLA, etc.).
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.
Industrial Trainee – Payments Compliance
Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint)
CA prospects
What You Will Gain:
In-depth understanding of payments compliance in the Indian context.
Hands-on experience with regulatory reporting and compliance monitoring.
Mentorship from experienced compliance professionals.
Exposure to the fast-paced Indian FinTech industry.
Opportunity to contribute to ensuring regulatory integrity of a growing company.
Internship duration- 12 months
PhonePe Full Time Employee Benefits (Not applicable for Intern or Contract Roles)
Working at PhonePe is a rewarding experience! Great people, a work environment that thrives on creativity, the opportunity to take on roles beyond a defined job description are just some of the reasons you should work with us. Read more about PhonePe on our blog.
