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.