P5 Senior Lead - Compliance Testing & Monitoring
About the Team
The Compliance Team at PayU Payments serves as the cornerstone of our regulatory excellence, ensuring that all payment operations maintain the highest standards of compliance across our diverse portfolio of services. As part of PayU - a leading global payments organization under the Prosus group - our Compliance team plays a pivotal role in safeguarding the integrity of India's rapidly evolving fintech ecosystem.
Our Compliance Testing & Monitoring function is at the heart of PayU's risk management strategy, overseeing comprehensive compliance assurance across Payment Aggregation (PA), Payment Aggregation Cross-border (PA-CB), Prepaid Payment Instrument (PPI), and Bharat Bill Pay System (BBPS) operations. The team is responsible for developing and executing robust testing frameworks, continuous monitoring programs, and proactive risk identification methodologies that ensure adherence to Reserve Bank of India (RBI), NPCI, and other regulatory guidelines.
Working in a dynamic, collaborative environment, the Compliance team partners closely with Legal, Risk, Operations, and Business teams to create a culture of compliance excellence. We pride ourselves on being forward-thinking, leveraging data-driven insights and innovative testing methodologies to stay ahead of regulatory changes and emerging risks in the payments landscape.
The team is committed to maintaining PayU's reputation as a trusted payments partner while enabling business growth through effective compliance governance, thorough testing protocols, and continuous monitoring of regulatory obligations.
About the Role
To support PayU's growth plans in India for payments and fintech opportunities, we are seeking a Lead/Senior Lead - Compliance Testing & Monitoring with a strong background in payments and/or fintech. This role will be responsible for handling a variety of work involving Compliance Testing and Monitoring of the payments business.
The Compliance Testing and Monitoring Specialist will play a critical role in ensuring adherence to regulatory requirements issued by the Reserve Bank of India (RBI), NPCI, and other governing authorities. The role involves executing periodic compliance reviews, identifying regulatory risks, and ensuring that PayU Payments' Payment Aggregation (PA), Payment Aggregation Cross-border (PA-CB), Prepaid Payment Instrument (PPI), and Bharat Bill Pay System (BBPS) operations strictly comply with applicable laws, regulations, and internal policies.
Responsibilities:
- Compliance Testing
- Upgrade and implement a risk-based compliance testing framework for PA, PPI, and BBPS businesses, aligned with regulatory guidelines
- Conduct periodic compliance reviews and testing of processes, policies, and Standard Operating Procedures (SOPs) to evaluate adherence to regulatory requirements
- Identify gaps, risks, and potential non-compliance issues and assess their impact on operations
- Provide structured reports on findings, including root-cause analysis and recommended corrective actions
- Monitoring Activities
- Develop and execute an ongoing monitoring calendar to track compliance with regulatory obligations and internal requirements
- Monitor key processes such as KYC verification, transaction monitoring, merchant onboarding, grievance redressal mechanisms, and settlement timelines
- Keep track of any updates or changes in RBI, NPCI, and applicable regulatory guidelines and assess their implications for existing processes
- Remediation and Follow-ups
- Collaborate with business teams to ensure identified compliance gaps are resolved within set timelines
- Follow up on action plans and track the implementation of mitigation measures
- Stakeholder Engagement
- Coordinate with legal, risk, and operations teams to ensure compliance with regulatory requirements
- Support senior management with updates on emerging compliance issues and proposed mitigation steps
- Reporting and Documentation
- Prepare detailed compliance testing and monitoring reports for internal stakeholders and regulatory audits
- Maintain documentation on compliance processes, ongoing controls, and test results for audit purposes
- Provide regular updates to the Compliance Committee on testing outcomes and regulatory risks
Requirements:
- Bachelor's/Master's degree in Legal, Finance, Risk Management, or a related field
- Additional qualifications such as those in relation to AML will be a plus
- Approximately 3-5 years of compliance experience in compliance, risk, or audit roles within the payments, fintech, or financial services sectors
- Regulatory Knowledge: Strong understanding of regulatory guidelines applicable to the fintech/payments industry in India
- Technical Expertise: Experience in executing compliance assurance frameworks or conducting audits
- Data Analysis: Proficiency in data-driven monitoring tools and risk identification methodologies
- Communication: Excellent analytical, report-writing, and communication skills
- Collaboration: Ability to collaborate with cross-functional teams and meet deadlines in a fast-paced environment
- Independent individual who enjoys working in an international, dynamic, and diverse environment
- Strong attention to detail and ability to work independently
- Proactive approach to identifying and resolving compliance issues
What we offer?
- A positive, get-things-done workplace
- A dynamic, constantly evolving space (change is par for the course – important you are comfortable with this).
- An inclusive environment that ensures we listen to a diverse range of voices when making decisions.
- Ability to learn cutting edge concepts and innovation in an agile start-up environment with a global scale.
- Access to 5000+ training courses accessible anytime/anywhere to support your growth and development (Corporate with top learning partners like Harvard, Coursera, Udacity).
About us:
At PayU, we are a global fintech investor and our vision is to build a world without financial borders where everyone can prosper. We give people in high growth markets the financial services and products they need to thrive. Our expertise in 18+ high-growth markets enables us to extend the reach of financial services. This drives everything we do, from investing in technology entrepreneurs to offering credit to underserved individuals, to helping merchants buy, sell, and operate online. Being part of Prosus, one of the largest technology investors in the world, gives us the presence and expertise to make a real impact. Find out more at www.payu.com
Our Commitment to Building A Diverse and Inclusive Workforce
As a global and multi-cultural organization with varied ethnicities thriving across locations, we realize that our responsibility towards fulfilling the D&I commitment is huge. Therefore, we continuously strive to create a diverse, inclusive, and safe environment, for all our people, communities, and customers. Our leaders are committed to create an inclusive work culture which enables transparency, flexibility, and unbiased attention to every PayUneer so they can succeed, irrespective of gender, color, or personal faith. An environment where every person feels they belong, that they are listened to, and where they are empowered to speak up. At PayU we have zero tolerance towards any form of prejudice whether a specific race, ethnicity, or of persons with disabilities, or the LGBTQ communities.