Assistant Manager / Manager - Risk & Compliance

airpay payment services; Mumbai; On-site; INR 1,700,000 - 2,600,000; Full time

Job summary

airpay payment services in Mumbai seeks an Assistant Manager / Manager in Operations – Risk & Compliance. The role focuses on monitoring fraud and risk alerts, AML investigations, and regulatory compliance, with escalation and closure of cases.

The candidate will lead a team, ensure SLA adherence, and collaborate across risk, product, and technology teams. With 6+ years of hands-on experience, you will configure monitoring rules, analyse alert performance, and manage LEA and regulatory requests,

Qualifications

• Bachelor’s degree in finance, commerce, economics, business administration, statistics, risk management or related field.

Responsibilities

• Monitor fraud, risk, AML and transaction monitoring alerts end-to-end, including investigation, decisioning, escalation and closure.
• Manage and close alerts across multiple fraud and risk scenarios with 6+ years of hands-on experience.
• Adhere to internal SLAs, policies, and regulatory requirements.
• Review, configure, and optimise monitoring rules, thresholds, and alerting mechanisms.
• Collaborate with Product, Risk, Operations, and Technology teams to implement monitoring improvements.
• Handle requests from LEAs, regulatory bodies, banks and other external stakeholders.
• Coach, assess, and develop the monitoring team; drive process improvements and best practices.
• Analyze large datasets to identify anomalies and risk indicators; prepare MIS and reports for management.

Skills

Fraud Monitoring

Risk Operations

AML

Transaction Monitoring

Data Analysis

Team Leadership

Regulatory Compliance

Education

Bachelor's degree (Finance/Commerce/Economics/Business Admin/Statistics/Risk Mgmt)

Job description

6+ Years

Full-Time

Job Title: Assistant Manager / Manager

Job Level: Mid-level

Report to: GeneralManager

Department: Operations – Risk & Compliance

Key Responsibilities:

Monitoring & Alert Management

• Handle fraud, Risk, AML and transaction monitoring alerts end-to-end, including investigation, decisioning, escalation and closure.
• Bring 6+ years of hands-on experience in managing and closing alerts across multiple fraud and risk scenarios.
• Ensure adherence to internal SLAs, policies, and regulatory requirements.

Rule Management & Alert Configuration

• Review, configure, and optimise monitoring rules, thresholds, and alerting mechanisms to improve fraud detection effectiveness.
• Analyse alert performance and recommend enhancements to reduce false positives while maintaining adequate risk coverage.
• Work closely with Product, Risk, Operations, and Technology teams to implement monitoring improvements.

Regulatory & Law Enforcement Management

• Handle requests and investigations from Law Enforcement Agencies (LEAs), regulatory bodies, banks and other external stakeholders.
• Ensure timely response and compliance with regulatory and internal governance requirements.
• Support investigations involving fraud, suspicious activity and financial crime.

Team Supervision & Quality Assurance

• Monitor team productivity, investigation quality, and operational efficiency.
• Review alerts handled by analysts and audit customer interactions/calls to ensure adherence to defined procedures.
• Provide coaching, feedback, and training to improve team performance and investigation quality.
• Drive process improvements and best practices across the monitoring function.
• Identify emerging fraud trends, attack vectors, and new business-specific fraud patterns.
• Recommend appropriate controls, monitoring strategies, and preventive measures.
• Collaborate with internal stakeholders to strengthen fraud prevention and detection capabilities.

Data Analysis & Reporting

• Analyse large datasets to identify anomalies, trends, and risk indicators.
• Prepare operational MIS, investigation reports, and fraud trend analysis for management review.
• Support root-cause analysis and risk assessments using data-driven approaches.

Technical & Domain Expertise

• Demonstrate strong understanding of the payments ecosystem, including Payment Gateways, UPI, Cards, Net Banking, Wallets, PPI, Merchant Acquiring and Banking Operations.
• Possess hands‑on knowledge of payment fraud typologies, including account takeover, mule activity, merchant fraud, identity fraud, chargeback fraud, friendly fraud, refund abuse, and transaction laundering.

Required Qualifications:

• Bachelor’s degree in finance, Commerce, Economics, Business Administration, Statistics, Risk Management or a related field.
• Relevant certifications in Fraud Risk Management, AML, Financial Crime Compliance or Risk Management.

Skills and Experience:

• Minimum 6+ years of hands‑on experience in Fraud Monitoring, Risk Operations, AML Operations, Transaction Monitoring, Financial Crime Investigations or related functions.
• Proven experience handling alerts from investigation through closure.
• Experience in configuring and optimising monitoring rules, thresholds and alerting frameworks.
• Experience handling LEA, regulatory, banking and compliance‑related requests.
• Strong expertise in Fraud Risk Management, AML Operations, Transaction Monitoring and Payment Fraud.
• Experience working with large volumes of transactional and operational data.
• Prior experience in monitoring analyst performance, quality reviews and team supervision.

Required Skills