Senior Compliance Role

Senior Compliance Role

Description:

We are looking for Sr. Professionals from Compliance background for one of the Naukri Expert Assist Client based in Mumbai.

Following are the job details-

Location: Mumbai, India

Department: Compliance & Risk

Role Overview:

Person will lead and manage all compliance, regulatory, and risk oversight activities for the payment network. The role is responsible for ensuring that the network business, products, cross border payment solutions and partnerships are in full adherence to applicable laws, payment regulations, and internal governance standards across all jurisdictions where the business operates.

The role involves advisory, monitoring, risk assessment, stakeholder coordination and regulatory interface. This position will also serve as the primary liaison with regulators (e.g., RBI, Central Bank of various jurisdictions, FIU, Data Protection Authorities), external auditors, and network participants to promote a culture of integrity, accountability, and transparency.

Key Responsibilities:

1. Compliance & Governance

- Carrying out due diligence to identify and track regulatory and legal compliances, laws and payment system guidelines in international jurisdictions where the company is intending to carry out its business;

- Oversee compliance with global standards such as FATF, PCI-DSS, ISO 27001, and data protection regulations (GDPR, DPDP Act, etc.).

- Provide compliance advisory for business with new jurisdictions, new product proposals, business models and technical integrations to product and business teams.

- Develop, implement, and maintain the compliance framework for all products and processes for the payment network in line with applicable RBI and international regulations (prescribed under or in relation to payments, AML/CFT, KYC, FEMA, digital payments, outsourcing, cybersecurity, data privacy laws, etc.).

- Serve as the principal compliance officer and point of contact for liasoning with regulatory bodies including Reserve Bank of India.

- Co-ordinate with partner banks and payment institutions to ensure adherence to licensing conditions and regulatory requirements

- Interpret and implement new regulatory guidelines and ensure operational alignment.

- Oversee the timely submission of regulatory filings, reporting, licenses, and audit responses.

- Continuous compliance monitoring of the worldwide regulations, laws and emerging trends/ risks in the sector impacting the organization.

2. Policy/ Framework Development and Compliance monitoring/ testing

- Implement legal and regulatory and operational risk compliance program and ensure that the company business in India complies with international payments legislation and regulation.

- Design and maintain policies for AML, KYC, data protection, sanctions screening, and anti-fraud measures.

- Supervise product and functional compliance activities.

- Conduct periodic testing of compliance with regulations, products, vendors and partner entities.

- Mitigate compliance risks by identifying gaps and tracking remediations.

- Develop a robust internal reporting mechanism for compliance incidents and breaches.

3. Network and stakeholder Management

- Establish risk-based compliance monitoring programs and internal controls.

- Identify and mitigate potential risks arising from network operations, member participation, and settlement processes.

- Collaborate with risk, technology and operations teams to ensure system controls meet compliance requirements (transaction monitoring, fraud controls, data security).

- Engage with member banks, fintech partners, and processors to ensure network-wide compliance.

- Conduct compliance and risk assessments.

- Work closely with product, risk, legal, finance, and technology teams on new launches, partner onboarding, and new market entries.

- Represent the company in industry forums and with regulators on policy developments.

4. Regulatory Engagement, Inspections, Audit & Reporting

- Engage with domestic and international regulators on seeking approvals, compliance and risk queries

- Interface for RBI inspection and meetings. Support preparation of responses to regulatory queries, inspections and supervisory reviews.

- Oversee periodic internal and external compliance audits.

- Present compliance reports, risk dashboards, partner compliance tracker and updates to the Board / Audit Committee.

- Maintain comprehensive documentation and audit trails.

5. Training & Awareness

- Build and lead a high-performing compliance team.

- Conduct regular compliance training for employees and network participants.

- Foster a strong compliance culture across the organization.

Qualifications & Experience:

- Education: C.A/ Masters degree in Finance, Business, or related discipline.

- Experience: 12 to 18 years of experience in compliance function with deep understanding of RBI regulations and laws with at least 5 years in a leadership role within payments, banking, or fintech.

- Preferred Background: Prior experience with commercial bank, payment networks, or regulated payment institutions.

- Certifications: AML/CFT, CAMS, CCO, or similar compliance certifications preferred.

Key Skills:

- Deep understanding of payments regulation, AML/CFT frameworks, FEM, data privacy laws, operational risks, outsourcing, cybersecurity, etc.

- Strong relationship management with regulators and industry bodies.

- Excellent leadership, analytical, and communication skills.

- Ability to operate in a fast-paced, technology-driven environment.

- Proven track record of designing compliance programs for new products or markets.