Compliance Officer – Payments

Job Description: Compliance Officer – Payments

Department:

Compliance & Risk

Location:

Ahmedabad, GIFT City (IFSC)

Reporting To:

Principal Officer – Payments

Experience:

3–6 years

Employment Type:

Full-time

Role Purpose

The Compliance Officer – Payments shall be responsible for day-to-day compliance execution, monitoring, documentation, and regulatory coordination for payment and fund flow activities carried out by the entity. The role ensures adherence to IFSCA, RBI, FEMA, AML/CFT, sanctions, and applicable international regulatory frameworks, under the overall supervision.

Key Responsibilities

1. Regulatory Compliance & Statutory Adherence

• Ensure continuous compliance with all applicable laws, rules, regulations, circulars, and guidelines issued by IFSCA, RBI, FEMA authorities, and other applicable regulators.
• Assist the Principal Officer in implementing regulatory requirements governing payments, settlements, and client fund flows.
• Maintain statutory registers, compliance trackers, regulatory filings, and documentation as mandated by regulators.
• Immediately flag any instance of non-compliance, deviation, or regulatory breach to the Principal Officer or equivalent.

2. Cross-Border Payments, FEMA & FX Compliance

• Monitor cross-border payment transactions to ensure compliance with FEMA, LRS, and applicable foreign exchange regulations.
• Conduct transaction-level compliance checks for sanctions screening, OFAC requirements, and restricted jurisdiction exposure.
• Maintain documentation and audit trails for FX conversions, intermediary banks, and payment service providers.
• Support regulatory reporting related to cross-border fund flows and foreign currency transactions.

3. AML, KYC & Financial Crime Controls

• Assist in implementation and monitoring of AML/CFT, KYC, and transaction surveillance frameworks for payment operations.
• Review transaction alerts, exception reports, and suspicious activity escalations.
• Coordinate preparation, documentation, and timely filing of STRs/SARs with relevant authorities under guidance of the Principal Officer.
• Support fraud risk monitoring related to funding, withdrawals, settlement mismatches, and reconciliations.

4. Risk Management & Internal Controls

• Assist in identifying, documenting, and monitoring operational, settlement, liquidity, and counterparty risks.
• Review daily reconciliation reports, settlement statements, and break management logs.
• Maintain risk registers, incident logs, and corrective action trackers.
• Ensure timely escalation and closure of identified control gaps and risk issues.

5. Audits, Inspections & Regulatory Interaction

• Support internal, external, and regulatory audits related to payments, custody, and fund flows.
• Prepare audit responses, regulatory submissions, inspection files, and compliance MIS.
• Track and ensure timely closure of audit observations, inspection findings, and regulatory directions.
• Remain available and provide assistance during inspections or inquiries conducted by IFSCA, RBI, or other statutory authorities.

6. Compliance Monitoring, Policies & Training

• Track regulatory updates, circulars, notifications, and amendments impacting payment and fintech operations.
• Assist in drafting, updating, and implementing compliance policies, SOPs, and operational manuals.
• Support periodic compliance reviews and internal self-assessments.
• Assist in conducting compliance awareness and training programs for relevant employees.

7. Governance, Infrastructure & Record Maintenance

• Ensure mandatory disclosures, signage, and regulatory infrastructure requirements are maintained at the IFSC office.
• Ensure secure maintenance and availability of compliance records for inspection and audit purposes.
• Coordinate with internal stakeholders to ensure inspection readiness at all times.

Qualifications & Experience

• Bachelor’s degree in Law, Finance, Commerce, Business Administration, or related discipline.
• 3–6 years of experience in compliance, risk, payments, banking, fintech, or regulated financial services.
• Working knowledge of IFSCA regulations, payments compliance, AML/KYC, FEMA, and audit processes.
• Exposure to regulatory inspections or audits preferred.

Key Skills & Attributes

• High integrity, independence, and ethical judgment.
• Strong documentation, regulatory interpretation, and analytical skills.
• Ability to function effectively in a highly regulated environment.
• Strong coordination and stakeholder management capabilities.
• Attention to detail with strong escalation judgment.