Associate Manager, Compliance Testing and Monitoring

Associate Manager – Testing and Monitoring

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 consider local laws and regulations. Such
practices will include a common approach and framework for risk assessment, monitoring, testing and surveillance
activities.

The Compliance Testing Assistant 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:

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

Role Requirements:

 Good eye for detailing with respect to each product regulations and controls
 Compliance Assurance (preferably also from a financial service e.g., banks, NBFC Lending, Insurance firms,
Stock Broking firms, 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 (i) assessing the design of controls, and (ii) whether the controls are
operating effectively) would be a good candidate. The 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.
 Strong knowledge and understanding of Stock Broking business is preferred.
 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 narratives and 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.