Title: Senior Manager-Compliance
Location: Bengaluru or Gurgaon
Exp: 8 to 10 Yrs.
Education: Bachelor / Master's degree
PayU, the fintech-arm of Naspers, is a leading financial services provider in global growth markets. We use our expertise and heritage in cross border and local payments to extend the services we offer to merchants and consumers. Our innovative technology, developed in-house as well as through investments and strategic partnerships, empowers billions of people and millions of merchants to buy and sell online, extending the reach of financial services.
Our local operations span 18 growth markets across Asia, Central and Eastern Europe, Latin America, the Middle East and Africa. Here we deliver fast, simple and efficient financial services technology that unlocks access to more than 2.3 billion consumers in our regions. Regulated under the Reserve Bank of India, PayU India has advanced solutions to meet every digital payment need. The company has an in-depth understanding of the vast and intricate details of the Indian market and its payment landscape. The company brings convenience and trust through continuous innovation leveraging technology.
PayU India forays into two business verticals - payment offerings under PayU Payments Services Ltd. and alternate lending under PayU Finance. Headquartered in Sohna Road, Gurgaon, the company has a presence in Mumbai, Pune and Bangalore and has a total strength of 700+ employees. Anirban Mukherjee is the CEO for PayU India working with the global CEO Laurent Le Moal.
Under the aegis of PayU Payments Services Ltd., PayU provides payment gateway solutions to online businesses through its cutting-edge and award-winning technology. In India, PayU covers nearly 60% of the airline business and 90% of the entire e-commerce business and processes over INR 120,000 crores worth of digital payments annually (at current run rates). The company offers more than 70 local payment methods and serves more than 350,000 merchants including leading e-commerce businesses in India. The company also empowers SMBs, enabling them to accept mobile and online payments with minimum development effort. With credit being the key business priority, PayU has also developed LazyPay, an alternate lending platform to offer credit solutions such as Small Ticket Credit (Buy Now, Pay Later), App based personal loans and Point of Sale Credit (Merchant EMI). Since its launch in 2017, LazyPay has gained significant traction and has disbursed 20mn+ loans to a customer base of a million user. PayU is bullish on investment opportunities in India. The company has been an aggressive investor, committed to the evolution of fintech in the country. PayU has spent about $250 million over the past three years in Asia's third-largest economy and is further scouting for more lucrative investment and acquisition opportunities to fuel growth. PayU's acquisitions in India include that of Wibmo (April 2019 worth $70 mn) and Citrus Payment Solutions (September 2016 for $130 mn). PayU has also invested in PaySense (July 2018) and ZestMoney (December 2016) in India.
Roles and Responsibilities:
The Senior Manager - Compliance performs a key risk management role by ensuring business line initiatives and processes comply with applicable consumer laws and regulations. While working within the Risk Management framework, the person is responsible for delivering quality results, providing compliance advice to business lines as a subject matter expert, and executing or participating in corporate risk management processes.
Lead and Support - Audit & Compliance Programs of ISO27001, PCI DSS, Process analysis, identification of issues, validation of current activity plan and recommendations.
Contribute to the establishment and execution of a sustainable policy framework, including the strategies and processes, to govern and improve the quality of policy documents across the Enterprise. The Senior Manager will partner with stakeholders at all levels to develop, implement, and drive adherence to the policy framework. The Senior Manager will need to build and maintain effective relationships with business partners.
Facilitate risk identification and risk discussions within the business unit, both operational risk, product/project and strategic risk. Ensure emerging risks are identified and escalated appropriately and in a timely manner.
Advise business line on compliance requirement applicability for new products and/or processes and changes in law or regulation. Work closely with Internal Risk teams & Global Audit teams.
Plan, prepare for and conduct, process led internal, external & vendor audits, at planned intervals and to provide suitable reporting. Monitor progress on corrective actions to ensure they are concluded without undue delay.
Strong understanding of the regulatory trends in the FinTech industry is foundational to success in this role.
Understanding of financial reporting requirements
Understanding of business processes in financial services, payment gateways and IT services
Understanding of incident process analysis and practices of root cause analysis.
Bachelor or Master's Degree
Core strengths in Results Focus, Problem Solving, Analytical Thinking, and Communication
Experience with writing precise and clear documents (via policy documents, reports, or elsewhere), and an attention to detail
At least 8 years of experience in cyber security, audit & compliance risk management
Key Skills Required:
Solid understanding of Indian financial regulation, RBI & Government of India.
Professional security management certification is desirable, such as Certified Information Security Manager (CISM), Certified Information Systems Auditor (CISA) or other similar credentials.
Excellent written and verbal communication skills, interpersonal and collaborative skills, and the ability to communicate information security and risk-related concepts to technical and non-technical audiences at various hierarchical levels, ranging from board members to professional specialists
Knowledge of common information security management frameworks, such as ISO / IEC 27001 / Information Security Management System (ISMS), COBIT, PCI DSS, RBI Audits, Third Party Risk assessments