Compliance (UPI & BBPS)

Job Description: Associate Director - Compliance (UPI and BBPS)

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

Location: Mumbai

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.

Roles & Responsibilities

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.

Public

• 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.