Associate Director (AD)

AML & FINANCIAL SERVICES – REGULATORY COMPLIANCE

Reporting – Senior Director – AML & FS, E&C

Bengaluru

About Flipkart

In 2007, we started the Flipkart journey by selling books online. But now, over a decade later, our story is quite different. Today, Flipkart is India’s largest online marketplace and one of India’s leading technology powerhouse that is disrupting the way India shops online. What has got us here? The dynamic, passionate, and talented folks we call Flipsters!

Our core values define our identity form the basis of our actions and reflect in everything that we do at Flipkart. Values enable us to shape the desired organizational culture in which each Flipster can thrive and be at their best.

We believe in taking bold bets and changing the paradigm, having a sense of urgency to solve problems strategically, and putting great ideas into action. We look at the world from our customer’s point of view and keep customers at the heart of everything we do. We strive to do the right thing always and be committed to our customers and stakeholders.

About the team

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This position is with Flipkart Group’s Anti-money laundering and Financial Services compliance program, responsible for both developing and implementing a governance framework of policies and procedures, monitoring, training and awareness programs, and ongoing risk assessment, in partnership with senior leaders in multiple SBUs, in order to (1) ensure compliance with applicable laws and regulations, (2) minimize the company’s exposure to adverse events, facilitate effective engagement with appropriate regulatory agencies, (3) develop anti-money laundering, anti-fraud policies and procedures, monitoring, training and awareness programs, and ongoing risk assessment, (4) support a culture of innovation. (5) Support, guide and enable all business initiatives for Financial Services (Fintech) of the company. This position is also responsible for working closely with the Global stakeholders’ and the Company’s third-party financial services providers to ensure alignment with the Company’s contractual commitments under each program.

About the role

This position is responsible for both developing, implementing, and supporting an effective regulatory compliance program to cater to the requirements of financial services regulator RBI in relation to lending, digital lending business as NBFC and IRDAI in relation to Corporate Agency Insurance business, etc. The person will also be responsible for implementing anti-money laundering, anti-fraud, customer protection, and complaints handling framework of policies, procedures, monitoring, training, awareness, and ongoing risk assessment for Financial Services products, in partnership with business stakeholders. The role envisions the expertise and capabilities of enabling businesses with the right compliances and support to handle the regulatory risk minimized/eliminated.

What you’ll do:

1. Work and enable Support in developing and implementing an effective compliance program to meet the regulatory expectations of the Fintech and Payments Team including but not limited to areas such as Payments, Lending, Insurance, Gift Cards, Credit Cards, BBPS, UPI-TPAP etc.
2. To cover and include regulatory compliance including anti-money laundering, anti-fraud, customer protection, and complaints handling framework (including policies, procedures, identifying root cause, monitoring, training, awareness, and ongoing risk assessment) for Flipkart’s Fintech and Payments Business.
3. To develop anti-money laundering, anti-fraud policies and procedures, monitoring, training, and awareness programs, and ongoing risk assessment as per Indian regulatory stipulations such as PMLA 2002/RBI KYC Master Direction 2006/CERT-In stipulations to Digital Assets, etc.
4. To analyze and implement the Indian regulatory and financial services compliances relating to RBI circulars towards NBFCs/Lending and Business Correspondents etc.
5. To analyze and implement the IRDAI circulars towards the sale of insurance and ISNP-related compliance including but not limited to IRDAI/Cert-In-based Audits etc.
6. Review and approve Fintech products advertising.
7. To support and implement regulatory guidelines relating to Corporate Agency business of IRDAI including Grievance redressal mechanisms as prescribed by regulators.
8. To work closely with the IT Security team to implement the cyber security controls that emanate from regulatory stipulations of regulators such as RBI/NPCI/IRDAI etc.
9. To comply with all regulatory reporting to RBI/IRDAI/NPCI/Others as per stipulations.
10. Be the support to the leader for RBI/IRDAI/NPCI and any other Fintech inspections from regulatory bodies.
11. Work with the Financial Services & Payment team and its related entities engaged in fintech, responsible for the execution of the compliance strategy for RBI circulars released from time to time.
12. Respond to regulatory inquiries and/or administrative actions related to Company policies and procedures and compliance with product-specific regulations.
13. Work closely with teams across the organization including Legal, Financial Services, International, and other teams to resolve regulatory reporting issues.
14. Monitor and present regulatory reporting issues in a meaningful way, including analyzing and summarizing status from various sources.
15. Ensuring clear, transparent, and complete product disclosure, taking into account Consumer financial literacy levels. Ensure sign-up processes for Financial Services products are understood and easy.

What you’ll need:

1. CA/CS/MBA. Certifications in Compliance with be preferred.
2. Understanding of AML/Financial Services products and regulatory obligations/IT laws on Digital Assets from Indian Financial Services
3. Prior experience in NBFC/Fintech/Banks is a great added advantage.
4. Good writing and communication skills, especially while dealing with regulatory issues.

Open Positions: 1

Skills Required:

Regulatory Compliance, Risk Compliance, Regulatory Issues, AML, Anti Money Laundering

Location: Bangalore,Karnataka

Education/Qualification: Graduate/CA/CS/MBA/CAMS

Desirable Skills:

Compliance Management, Risk Control, financial services, Control Testing

Years Of Exp: 9 to 11 Years