About Setu
India's economic infrastructure needs a complete overhaul. Today our digital economy rides on rickety monolithic systems built in the mid-90s. It takes months to do a simple bank integration and launch a fintech product. This inefficiency cannot continue. If our economy has to grow, we need killer API infrastructure for financial services that rivals the likes of Stripe, and AWS.
At Setu, we are fixing this for good, by abstracting away the complexity of working with legacy financial infrastructure and replacing it with a developer platform that offers clean, high-performance API bundles to embed finance into any application. So that developers can do what they do best, build amazing products that improve people's lives.
Importance of the Role
Risk and fraud management are critical to ensuring a secure and scalable payments ecosystem. This role will play a key part in strengthening merchant onboarding, transaction monitoring, fraud prevention, and risk governance across the business. The individual will be responsible for driving proactive risk controls, improving fraud detection mechanisms, and ensuring compliance with regulatory and internal risk standards while balancing business growth and customer experience.
What will you do at Setu
The Roles and Responsibilities:
Merchant Onboarding & Risk Assessment
- Manage end-to-end Merchant Risk Management framework including KYB/KYC and onboarding due diligence.
- Assess merchant risk profiles using risk-based underwriting and scoring methodologies.
- Identify and evaluate high-risk merchants, suspicious onboarding patterns, and potential fraud indicators.
- Ensure adherence to RBI guidelines, payment network regulations, and internal compliance standards.
Transaction Monitoring & Fraud Prevention
- Design, implement, and enhance transaction monitoring rules and fraud detection controls.
- Monitor merchant and transaction behavior to identify suspicious activities, fraud patterns, and abuse trends.
- Manage fraud alerts lifecycle including investigation, escalation, resolution, and reporting.
- Recommend preventive controls and process improvements to strengthen risk systems and reduce fraud exposure.
Chargeback & Dispute Management
- Oversee end-to-end chargeback and dispute management processes.
- Analyze chargeback trends and merchant behavior to identify risk signals and portfolio concerns.
- Work closely with internal stakeholders to improve dispute resolution efficiency and reduce recurring fraud patterns.
Risk Governance & Cross-functional Collaboration
- Build and strengthen risk frameworks, SOPs, and operational controls across merchant and transaction risk functions.
- Collaborate with Product, Engineering, Operations, and Compliance teams to improve risk systems, workflows, and automation initiatives.
- Support implementation of scalable and data-driven risk management practices across the organization.
Who is the right fit for this role
- 6–10 years of experience in Risk Management, Fraud Prevention, Transaction Monitoring, Merchant Risk, or Underwriting within fintech, payments, banking, or financial services.
- Strong understanding of merchant onboarding, KYB/KYC, AML, transaction monitoring, and fraud risk controls.
- Experience in managing merchant risk portfolios, chargebacks, disputes, and fraud investigations.
- Exposure to risk frameworks, underwriting processes, fraud strategy, SOP creation, or policy implementation.
- Good understanding of RBI regulations, payment network guidelines, and merchant acquiring ecosystem.
- Experience working with Product, Engineering, Analytics, or Operations teams to improve risk systems and processes.
- Strong analytical, stakeholder management, and decision-making skills.
Why Setu
- We will spare no efforts to ensure that Setu empowers you to do the most important and impactful work of your career—
- Opportunity to work closely with the founding team who built and scaled public infrastructure such as UPI, GST, Aadhaar, etc.
- We care deeply about your growth. So we work hard to provide you with—
A fully stocked library and unlimited book budget.
Tickets to conferences and industry events.
Learning sessions where we invite both team members and external experts to teach you something new.
Learning and development allowance that gives access to subscriptions, courses, certifications, music classes, and much more. Grow, learn, and improve with Setu!
- Kick-ass benefits including comprehensive health insurance for you and your family, personal accident and term life insurance, access to mental health counsellors, extraordinary coffee, and a beautiful office with lots of solid wood and natural light.
- We work hard to make sure our team is diverse and varied. We interview and hire purely on merit, skill, and competence—everything else is irrelevant.
