Associate Director - UPI/BBPS Compliance

Competencies & Skills:

- Competence in interpreting payments compliance laws and regulations.

- In-depth knowledge of payments industry (particularly UPI, BBPS products) and regulatory landscape.

- 7-9 years of relevant work experience in managing the regulatory compliances for UPI and BBPS products within a bank or fintech company.

- Ability to drive regulatory implementation across business functions.

- Experience in conducting compliance reviews, testing, and driving corrective actions.

- Reporting of gaps in regulatory compliances and driving timely closures.

- Managing regulatory relationships - internal and external

- Excellent reporting procedures and record keeping.

- Proficient in creating impactful PowerPoint presentations and comprehensive report writing.

Regulatory Compliance:

- Track, interpret and disseminate regulatory requirements to internal stakeholders.

- Advise the business on implementation of new regulatory updates or changes in the existing regulations/ circulars/ guidelines related to UPI and BBPS products.

- Maintain a library of compliance rules for UPI and BBPS.

- Record Keeping of all regulatory circulars and correspondences.

- Monitoring closure of action points related to regulatory updates.

- Publish MIS/ dashboard on regulatory updates and implementation status, critical observations, as per defined frequencies.

- Ensure timely submission of regulatory reports, as applicable.

Compliance Testing:

- Facilitate timely compliance self-attestations from business functions.

- Conduct periodic compliance testing on the regulatory controls as per compliance calendar and to ensure timely completion.

- Conduct compliance acceptance test on all the regulatory controls within defined period.

- Prepare comprehensive compliance testing reports highlighting exceptions, non - compliances, and potential issues.

- Monitor and ensure timely closure of issues raised in compliance testing reports.

Compliance review:

- Review product/process notes during design and launch phases to identify regulatory compliance risks.

- Track and ensure closure of open compliance risks.