Associate Director, Financial Services Compliance

About PhonePe Ethics & Compliance Team The PhonePe Ethics and Compliance team plays a critical role in the successful execution of the firm's ethical and compliance mission. The Payments Compliance function at PhonePe ensures the development and maintenance of a strong compliance culture within the company by developing and maintaining program infrastructure that identifies, measures, and monitors compliance with applicable laws, regulations, and rules governing our business. Compliance teams work closely with Business, Product, Legal, Tech, Risk, and Audit functions to provide expertise on regulatory compliance matters, assess and measure compliance risks, and monitor and test the adequacy of the firm's compliance environment. Lines of Business Relevant to This Role Merchant Solutions PhonePe offers a comprehensive suite of solutions for its 37 million merchant partners to enable end-to-end control over their entire payment process, including transaction confirmation and reconciliation: SmartSpeakers: Provides instant voice payment alerts in noisy environments alongside host operational features. PhonePe Payment Gateway (PG): Delivers best-in-class online payment experiences to consumers and digital merchants. Point-of-Sale (POS) Devices: Empowers offline merchants to effortlessly accept payments via Debit Cards, Credit Cards, and UPI with seamless settlement processes. Payments PhonePe enables users to send and receive money, recharge mobile, FASTag, & DTH, make bill payments (electricity, credit card bills, rent payments, LPG), make donations, and pay for purchases at stores. Users can also pay for financial services such as loan repayments and tax payments. Core Payment Products: Prepaid Payment Instruments (Wallet & EGVs), Unified Payments Interface (UPI), and Bharat Bill Pay Operating Unit (BBPOU). Culture & Challenges at PhonePe At PhonePe, we empower people and trust them to do the right thing. Here, you own your work from start to finish, right from day one. Building for scale, rapid iterative development, and customer-centric product thinking define every single day. While we engineer for a 500M+ user base with speed, we care utmost for security, stability, regulatory compliance, and automation. If you enjoy building technology that impacts millions and working alongside best-in-class minds with purpose, PhonePe is the right place for you. Role Overview We are looking for a highly experienced and strategic compliance leader for the position of Associate Director – Payments Compliance. The ideal candidate will possess deep expertise in regulatory frameworks applicable to Payment System Operators, Payment Aggregators (PA), Prepaid Payment Instruments (PPI), Unified Payments Interface (UPI), Bharat Bill Payment System (BBPS), and broader fintech and banking regulations. This leadership role requires a proven track record in leading RBI regulatory inspections, managing end-to-end audit preparedness, establishing robust regulatory change management frameworks, and overseeing compliance sign-offs across complex payment products. The candidate will serve as a trusted regulatory advisor to senior leadership, driving a proactive compliance posture across the PhonePe ecosystem. Key Roles & Responsibilities Regulatory Inspection & Audit Leadership: Lead and manage all regulatory inspections and audits conducted by the Reserve Bank of India (RBI), and other regulatory bodies. Direct data validation, response preparation, and submission of clarifications to regulatory queries, ensuring audit preparedness across all operational and technology processes. Track, remediate, and close out inspection observations and audit findings in coordination with executive leadership and cross-functional stakeholders. Domain Regulatory Expertise (PA, PPI, BBPS,UPI): Subject Matter Expertise in RBI Master Directions and guidelines governing Payment Aggregators (MD-PA), Prepaid Payment Instruments (MD-PPI), Master Direction on KYC (MD-CB KYC), MD-B