Assistant Manager - BFSI Compliance

About PhonePe Limited

PhonePe Limited, headquartered in India, launched its flagship digital payments app in August 2016. By April 2025, PhonePe boasts over 600 million registered users and a payment acceptance network spanning more than 40 million merchants. The platform processes in excess of 330 million transactions daily, with an annualized total payment value surpassing INR 150 lakh crore.

The company’s diverse portfolio includes distribution of financial products such as insurance, lending, and wealth management, alongside new consumer technology ventures like Pincode (a hyperlocal e-commerce platform) and Indus AppStore, serving the Android ecosystem. These align with PhonePe’s vision to provide every Indian equitable access to financial services and opportunities to accelerate their progress.

Culture

At PhonePe, employees are empowered to deliver their best every day. The environment emphasizes ownership, trusting individuals to manage projects end-to-end from the outset. Team members tackle complex challenges, often developing frameworks from the ground up. This dynamic culture is ideal for professionals eager to build impactful platforms serving millions and to collaborate with some of the best minds in the country, executing ideas with purpose and agility.

Role Overview

The Assistant Manager for BFSI Compliance is accountable for ensuring thorough adherence to IRDAI regulations, RBI’s digital lending guidelines, circulars, and other applicable regulatory mandates. The role involves guiding business teams on compliance matters, implementing regulatory updates, maintaining reporting systems, assisting internal audits, and fostering strong compliance governance across the firm. This position also offers exposure to various regulatory frameworks beyond insurance, supporting a broad compliance career trajectory.

Key Responsibilities

• Monitor, interpret, and communicate IRDAI and RBI circulars, guidelines, and exposure drafts to relevant stakeholders.
• Oversee timely execution of new regulatory requirements and evaluate their impact on business operations.
• Conduct compliance risk evaluations, including analyzing regulatory warnings and penalty orders.
• Review products, advertisements, and business proposals with a compliance lens.
• Support the creation of compliance dashboards, regulatory updates, and committee reports.
• Provide compliance input during business project planning to ensure regulatory considerations are integrated before launch.
• Offer advice on compliance risks to internal stakeholders.
• Lead thematic compliance reviews and assist management evaluations.
• Facilitate regulatory inspections, audits, and submissions to IRDAI.
• Manage compliance checkpoints, tracking systems, and gap closures independently.
• Guide internal teams on evolving regulatory expectations.

Experience & Qualifications

• Graduate or postgraduate degree holder with 3 to 6 years of experience in compliance, regulatory, or legal roles.
• Solid understanding of IRDAI and RBI regulations and compliance protocols within the insurance sector; familiarity with additional regulatory bodies is advantageous.

Required Competencies

• Exceptional communication and drafting skills with the ability to articulate complex ideas clearly.
• Demonstrated capability to independently manage compliance duties.
• Strong analytical skills to interpret regulations and assess their business implications.
• Effective stakeholder management and a focus on delivering enabling compliance solutions.
• High ethical standards coupled with diligence and accountability in work output.
• Excellent organizational abilities to handle multiple priorities accurately and timely.
• Collaborative mindset with a willingness to contribute to team knowledge sharing.

Employee Benefits

• Comprehensive insurance coverage including medical, critical illness, accidental, and life insurance.
• Wellness programs like employee assistance, onsite medical center access, and emergency support.
• Parental support schemes such as maternity, paternity, adoption assistance, and daycare support.
• Mobility benefits covering relocation, transfers, and travel policies.
• Retirement benefits including employee provident fund, flexible PF contributions, gratuity, NPS, and leave encashment.
• Additional perks such as higher education assistance, car leasing, and salary advance options.

Inclusion & Equal Opportunity

PhonePe fosters a culture encouraging individual creativity, innovation, and achievement, enhancing customer understanding and service quality. The company celebrates diversity and is committed to equal treatment of all employees and applicants, regardless of gender, sexual orientation, religion, race, color, or disability. Support is available for candidates requiring accommodations during hiring or onboarding processes.