PhonePe - Associate Manager - Data Compliance Analytics

About PhonePe

PhonePe is India's leading digital payments platform with over 230 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold, and make investments. PhonePe went live for customers in August 2016 and was the first non-banking UPI app and offered money transfer to individuals and merchants, recharges and bill payments to begin with. In 2017, PhonePe forayed into financial services with the launch of digital gold, providing users with a safe and convenient option to buy 24-karat gold securely on its platform. PhonePe has since launched Mutual Funds and Insurance products like tax saving funds, liquid funds, international travel insurance, Corona Care, a dedicated insurance product for the COVID-19 pandemic among others. PhonePe launched its Switch platform in 2018, and today its customers can place orders on over 200 apps including Ola, Myntra, IRCTC, Goibibo, RedBus, Oyo etc. directly from within the PhonePe mobile app. PhonePe is accepted at over 11 million merchant outlets across 500 cities nationally.

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!

Challenges

Building for Scale, Rapid Iterative Development and Customer-centric Product Thinking at each step defines every day for a developer at PhonePe. Though we engineer for a 50million+ strong user base, we code with every individual user in mind. While we are quick to adopt the latest in Engineering, we care utmost for security, stability, and automation. Apply if you want to experience the best combination of passionate application development and product-driven thinking.

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 Associate Manager Compliance Testing 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 take into account local laws and regulations. Such practices will include a common approach and framework for risk assessment, monitoring, testing and surveillance activities.

The Compliance Testing Associate 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 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:-

- Attend the walkthroughs and perform the control design effectiveness assessments (CDEA) for all financial services products /functions within PhonePe.

- Understand, identify and extract key data from various business applications, required to perform testing of Controls as part of every Compliance Testing review.

- Build data visualization dashboards to support first line of defence compliance monitoring

activities.

- Identify the scope to automate testing of key controls, build automation logic and deploy target solution in a phased manner for Control Testing and Monitoring purposes.

- Contribute and point-out risks of the product/service during pre-planning work.

- Prepare the control checklist required for the review for each regulatory and unregulated functions

- Designing work programs and executing steps, meeting deadlines to evaluate compliance with rules and regulations.

- Interacting 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.

- Formulate questions to be asked during walkthroughs and lead when called upon

- Identify controls after attending a walkthrough, specifically those related to the risks noted

- Provide rough drafts of issue documentation, identifying the important parts required.

- Design, create and implement data-based compliance test scenarios as required.

- Define testing scripts, coordinate with respective development teams to run the same during the review process and evaluate the outcome along with the manager.

- Act as single point of contact for all data related compliance testing activities and own record keeping and reporting of the same.

Role Requirements:-

- Compliance Assurance (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 (which very importantly includes Assessing the design of controls, and whether the controls are operating effectively) would be a good candidate. The aforementioned would be the key & critical foundation.

- Basic AML/ OFAC experience would be preferred.

- At least 6 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 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.

- Proficiency in Excel and SQL is a preferred skill to have.

- Experience in analyzing very large, complex, multi-dimensional data sets.

- You have 1 to 2 years of experience in relevant roles. Strong problem solving and analytical skills

- Exposure to advance statistical techniques such as regression, segmentation and forecasting and process automation

- Technical capabilities: SQL, Excel, Qlikview and Scripting Language