Associate Manager, Consumer Payments Compliance

PHONEPE LIMITED; Bengaluru; On-site; INR 2,500,000 - 4,000,000; Full time

Benefits offered by this job

Insurance Benefits

Wellness Program

Parental Support

Mobility Benefits

Retirement Benefits

Other Benefits

Job summary

PhonePe Limited in Bengaluru is seeking an Associate Manager, Consumer Payments Compliance to support the regulatory review of new products and features, ensuring sign-off before launches. The role partners with product teams to proactively flag compliance risks and maintains controls across the lifecycle.

The incumbent will help implement an efficient RBI/NPCI change management framework, validate regulatory reports, and drive automation in internal compliance processes, while upholding high

Qualifications

• Post graduate qualification in finance/risk management or related field with 6+ years in payments compliance.
• Deep knowledge of RBI, NPCI, KYC guidelines for payments products (UPI/BBPS).
• Strong analytical mindset and ability to own deliverables.

Responsibilities

• Assist in comprehensive review of new products, features, and offerings ensuring compliance sign-off before go-lives.
• Partner with Product teams through the lifecycle to flag and resolve compliance risks.
• Help map controls to mitigate compliance risks and document requirements.

Skills

Payments compliance

RBI/NPCI/KYC knowledge

Regulatory reporting

Analytical thinking

Stakeholder communication

Ethical standards

Education

Post graduate in Finance and Risk Management / MBA / CA / CS

Job description

Associate Manager, Consumer Payments Compliance

• Full-time
• Department Name: Compliance

PhonePe Limited (Formerly PhonePe Private Limited) is a technology company that builds digital platforms for Payments, Digital Distribution Services and Financial Services. Headquartered in India, the PhonePe digital payments app was launched in 2016. As of April 2026, PhonePe has over 70 Crore life-till-date registered users and a digital payments acceptance network spread across over 5 Crore merchants. PhonePe’s products and services include Consumer Payments (including Digital Distribution Services), Merchant Payments, Lending and Insurance Distribution services, and New Platforms, which comprise Share.Market (stock broking and mutual funds distribution platform), and Indus Appstore (Android-based mobile app marketplace). 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!

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.

Qualifications

• 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.

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

Our inclusive culture promotes individual expression, creativity, innovation, and achievement and in turn helps us better understand and serve our customers. We see ourselves as a place for intellectual curiosity, ideas and debates, where diverse perspectives lead to deeper understanding and better quality results. PhonePe is an equal opportunity employer and is committed to treating all its employees and job applicants equally; regardless of gender, sexual preference, religion, race, color or disability. If you have a disability or special need that requires assistance or reasonable accommodation, during the application and hiring process, including support for the interview or onboarding process, please fill out this form.

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