Spice Money – Head – Risk Spice Money

The Corporate Institute; Dadri; On-site; INR 6,000,000 - 9,000,000; Full time

Job summary

Spice Money seeks a senior leader to head Risk, shaping enterprise risk governance, fraud prevention architecture, and regulatory compliance across digital transactions in rural merchant networks.

You will lead real-time monitoring, oversee partner bank integrations, and drive risk controls by design for new offerings while reporting to the Board and Risk Management Committee.

Qualifications

• 10+ years of relevant risk management, fraud control and governance experience.
• Domain experience in FinTech, Banking, Payments or high-volume transactions.
• Strong knowledge of RBI guidelines, BC ecosystems and regulatory requirements.

Responsibilities

• Develop, implement and maintain risk governance policies and SOPs.
• Oversee real-time fraud monitoring, transaction risk and anomaly detection.
• Lead risk oversight, testing of controls, and Risk & Control Self-Assessments.
• Ensure regulatory and partner bank compliance across fintech services.
• Assess new digital products for risk and embed controls by design.
• Champion automation and data analytics to strengthen risk monitoring.
• Provide board-level reporting of risk metrics and mitigation plans.

Skills

Risk governance

Fraud control

Data analytics

Regulatory awareness

Leadership

Education

CA / MBA / Masters in Finance or Risk Management

Job description

About the Role:

The Head of Risk is a crucial executive role responsible for shaping and upholding the company’s enterprise risk governance, fraud prevention architecture, and regulatory risk compliance framework. As Spice Money scales digital transactions across millions of rural merchant locations, this leader ensures independent risk oversight, builds resilient transaction monitoring systems, safeguards partner bank integrations, and provides transparent assurance to the Board of Directors and Risk Management Committee (RMC), balancing bold financial inclusion growth with strong control and security.

How You’ll Contribute:

– Risk Governance & Policy Framework: Develop, implement, and maintain robust board-approved policies and Standard Operating Procedures (SOPs) for identifying, assessing, and mitigating operational, credit, market, technology, cybersecurity, reputational, and strategic threats across the organization.

– Real-Time Fraud Prevention & Monitoring: Oversee digital transaction monitoring, secure payment gateways, and real-time fraud monitoring systems to minimize loss, identify anomalies, analyze exception reports, and stay ahead of evolving industry fraud trends.

– Enterprise Risk Oversight & Control Testing: Lead enterprise-level risk identification and mitigation, establish internal control frameworks, conduct rigorous adherence testing of laid‑down policies/SOPs, and continuously evaluate Risk & Control Self‑Assessments (RCSA).

– Regulatory & Partner Bank Compliance: Ensure full compliance with Business Correspondent (BC) guidelines, coordinate with multiple partner banks, enforce adherence to banking agreements, and ensure regulatory alignment across all fintech service lines.

– Product & Digital Initiative Risk Assessment: Review new digital products, financial marketplace offerings, payment wallets, and strategic tech initiatives from a risk perspective prior to launch to embed risk controls by design.

– Automation & Tech Integration: Drive the implementation of modern technological systems, automated monitoring dashboards, and advanced data analytics to strengthen the company’s risk, compliance, and exception tracking framework.

– Board Assurance & Reporting: Provide independent, periodic reporting and insights to the Risk Management Committee (RMC) and Board of Company on key risk metrics, emerging risk vectors, mitigation plans, and regulatory compliance posture.

What Will Make You Successful:

– Qualifications & Experience: CA / MBA / Masters in Finance or Risk Management with 10+ years of relevant experience in Risk Management, Fraud Control, and Governance.

– Domain Expertise: Proven background in FinTech, Banking, Financial Services, Payment Systems, or Fast-paced high-volume transaction environments.

– Technical & Analytical Skills: Deep expertise in digital payment risk, fraud detection technologies, transaction monitoring systems, data analytics, and exception handling.

– Regulatory Acumen: Strong familiarity with RBI guidelines, Business Correspondent (BC) ecosystems, NPCI regulations, cybersecurity standards, and banking partnership compliance.

– Leadership & Stakeholder Management: Proven track record of handling senior board-level reporting, collaborating with multiple partner banks, external auditors, regulatory bodies, and internal cross‑functional business heads.

– Problem-Solving & Agility: Strong analytical acumen, sharp learning curve, ability to manage ambiguity, and drive robust risk governance in a high-growth, fast-scaled operating environment.