Associate Manager, Compliance

About PhonePe Limited: Headquartered in India, its flagship product, the PhonePe digital payments app, was launched in Aug 2016. As of April 2025, PhonePe has over 60 Crore (600 Million) registered users and a digital payments acceptance network spread across over 4 Crore (40+ million) merchants. PhonePe also processes over 33 Crore (330+ Million) transactions daily with an Annualized Total Payment Value (TPV) of over INR 150 lakh crore. PhonePe’s portfolio of businesses includes the distribution of financial products (Insurance, Lending, and Wealth) as well as new consumer tech businesses (Pincode - hyperlocal e-commerce and Indus AppStore Localized App Store for the Android ecosystem) in India, which are aligned with the company’s vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services. 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! Assistant Manager/Manager - Regulatory Compliance - Cross-Border Experience 5–6 years of relevant experience in regulatory compliance, must be within payments, fintech, banking, or regulated financial services. Role Overview The Cross-Border Regulatory Compliance role is responsible for ensuring regulatory compliance across international payment flows, foreign exchange transactions, and cross-border financial products. The role focuses on interpreting and implementing regulatory requirements across multiple jurisdictions, with particular emphasis on India-outbound and inbound cross-border transactions. The role partners closely with Product, Legal, Operations, Risk, Treasury, and Business teams to embed compliance-by-design into cross-border products while supporting business growth within regulatory boundaries. Key Responsibilities 1. Cross-Border Regulatory Compliance & Advisory • Interpret and implement cross-border regulatory frameworks including FEMA, RBI Master Directions, Liberalised Remittance Scheme (LRS), Export/Import guidelines, and foreign exchange guidelines. • Provide regulatory advisory on cross-border payment flows such as: • Inbound and outbound remittances • Merchant cross-border collections • Card-based international transactions • FX conversion and settlement models • Assess permissibility of cross-border use cases, structures, and partnerships under applicable regulations. 2. Regulatory Change Management & Prioritization • Track regulatory developments across India and relevant foreign jurisdictions impacting cross-border products. • Conduct regulatory impact assessments for new RBI circulars, FEMA notifications, and supervisory communications. • Prioritize regulatory changes based on risk, business impact, and implementation timelines. • Drive timely implementation of regulatory changes across systems, processes, and documentation. 3. Product & Business Partnership • Work closely with Product and Business teams during ideation and launch of cross-border products to ensure regulatory alignment. • Review and challenge product flows, fund movement, and FX structures to ensure compliance with regulatory intent. • Support business teams in balancing commercial objectives with regulatory constraints through pragmatic, compliant solutions. • Act as a trusted advisor to senior stakeholders on cross-border regulatory strategy. 4. Control Design & Governance • Design and implement regulatory controls for cross-border transactions, including: • Transaction flow controls • Regulatory limits and thresholds • Reporting and reconciliation frameworks • Establish governance frameworks covering policies, SOPs, regulatory attestations, and internal approvals. • Ensure regulatory obligations are embedded into operational processes and system logic. 5. Regulatory Engagement & Audit Support • Support regulatory inspections, audits, and supervisory interactions related to cross-border activities. • Prepare responses to regulatory queries, inspection observations, and audit findings. • Coordinate with internal teams to ensure timely remediation and closure of regulatory observations. • Assist in regulatory reporting and periodic submissions related to cross-border transactions. 6. Stakeholder Management & Communication • Act as a central compliance point of contact for cross-border initiatives across teams. • Communicate regulatory expectations clearly to non-compliance stakeholders. • Escalate material regulatory risks appropriately with clear options and recommendations. • Influence decision-making through structured, risk-based regulatory analysis. Must-Have Qualifications & Experience • 5–6 years of experience in regulatory compliance, must be in payments, fintech, banking, or financial services. • Strong working knowledge of: • FEMA and RBI Master Directions • Cross-border payment regulations • FX and remittance frameworks • LRS, export/import and international payment regulations, etc. • Experience working with cross-functional teams such as Product, Legal, Operations, Risk, and Treasury. • Hands-on experience in regulatory interpretation, advisory, and implementation. • Exposure to regulatory audits, inspections, or supervisory interactions is highly desirable. • Ability to translate complex regulations into practical, implementable business solutions. Good-to-Have • Experience working in a global or multinational organization. • Exposure to multiple jurisdictions or international regulatory frameworks. • Experience with Payment Aggregators, AD-II entities, or card networks. • Prior involvement in launching cross-border products or new regulated use cases. • Certifications or qualifications in compliance, risk, or finance (e.g., CA, CIA, MBA, LLB, CAMS, etc.). Key Skills & Competencies • Strong regulatory interpretation and analytical skills • Structured problem-solving and decision-making • Ability to balance regulatory risk with business impact • Excellent stakeholder management and communication skills • High ownership, judgement, and attention to detail • Comfort working in fast-paced, evolving regulatory environments 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. Read more about PhonePe on our blog. Life at PhonePe PhonePe in the news