Key Responsibilities
- Regulatory Compliance (RBI & Other Authorities)
- Develop, implement, and maintain compliance programs in line with RBI regulations for PA, cross-border PA, and PPI license holders.
- Act as the primary point of contact with RBI and FIU-IND for compliance, AML/CFT reporting, and regulatory inspections.
- Monitor and interpret regulatory developments; advise management and business units on compliance obligations.
- Ensure timely submission of regulatory returns, reports, and notifications to RBI and other authorities.
- Oversee compliance with Payment and Settlement Systems Act, Prevention of Money Laundering Act (PMLA), FEMA, and other relevant statutes.
- AML/CFT Framework
- Establish and oversee AML/CFT policies, procedures, and systems, including risk-based KYC, CDD, EDD, and transaction monitoring.
- Ensure timely reporting of STRs (Suspicious Transaction Reports) and CTRs (Cash Transaction Reports) to FIU-IND.
- Conduct AML/CFT risk assessments and ensure controls are effective across business lines.
- Maintain and update sanctions screening processes (OFAC, UN, EU, domestic lists) for all customers and transactions.
Governance & Oversight
- Design and implement the compliance governance structure, including board-level reporting and risk committee presentations.
- Ensure compliance training programs for employees and agents are designed, rolled out, and tracked.
- Regularly review policies on data protection, consumer protection, outsourcing, grievance redressal, and fraud risk management as per RBI mandates.
- Lead compliance audits, reviews, and gap assessments, ensuring remediation of findings.
- Oversee vendor/partner due diligence from a compliance perspective, especially for cross-border arrangements.
Strategic Business Partnership
- Partner with business, operations, technology, and product teams to embed compliance and AML/CFT controls in processes.
- Support cross-border product launches and PPI innovations with compliance guidance.
- Anticipate regulatory expectations and proactively build systems that are regulator-ready.
Qualifications & Experience
- Minimum 1015 years of experience in compliance, risk, or legal roles within banking, fintech, payments, or NBFCs.
- Strong knowledge of RBI regulations applicable to Payment Aggregators, PPIs, and Cross-Border Payment arrangements.
- Must have prior experience as an MLRO or senior AML officer, with deep familiarity with PMLA, FIU-IND guidelines, and AML/CFT frameworks.
- Proven ability to engage with RBI, FIU, and other regulators effectively.
- Law, Finance, or Compliance degree (LLB, CA, CS, MBA, or equivalent). CAMS/ICA certification preferred.
Key Skills:
- Deep expertise in AML/CFT frameworks and regulatory compliance.
- Strong leadership and ability to build a compliance-first culture.
- Excellent stakeholder management and communication skills.
- High integrity, sound judgment, and the ability to balance compliance with business needs.
- Analytical mindset with attention to detail.
- Success Metrics
- 100% timely submission of regulatory reports.
- Zero major compliance breaches or penalties from RBI/FIU-IND.
- Effective AML/CFT framework with timely STR/CTR filings.
- Successful audits with minimal findings.
- Strong regulator confidence in Pay10's compliance framework.
