KYC Analyst

KYC SME - Business Compliance

About Us: PhonePe is the leader in the UPI based payments in India with a market share of more than 40%. Our goal is to make payments so easy, safe and universally accepted that people never feel the need to carry cash or cards again. We believe India is at the cusp of a new mobile revolution, which will change the way we manage our money on the go. We see ourselves facilitating this change, through technology and dogged customer centricity. PhonePe went live in 2016 and crossed 5 bn transactions on its platform in 2019. In 2020, PhonePe forayed into diverse areas with the launch of insurance and super funds. Today we have a customer base of 260+ mm users and 16 mm merchants live on our platform.
Job Objective:
We are looking for a detail-oriented and proactive Paralegal/KYC SME to join our Business Compliance Operations team, specializing in KYC (Know Your Customer) operations. In this critical role, you will support the KYC review team with the legal, compliance, and risk aspects of the KYC documents provided by our merchants. The ideal candidate will have a strong understanding of compliance procedures, KYC operations in Indian regulatory context, excellent organizational skills, and the ability to handle multiple tasks while ensuring regulatory compliance.
Reporting-Matrix:

Please Candidate will be Reporting to Business Compliance Manager/Lead
Responsibilities:

● KYC Document Review & Validation:

1. Thoroughly review merchant KYC documentation presented for evaluation (e.g., identity verification, proof of address, corporate structures, etc.) for completeness, accuracy, and compliance with legal and regulatory standards.
2. Cross-check and validate documentation against applicable regulatory frameworks, internal policies, and industry best practices.
3. Identify discrepancies, inconsistencies, or missing documents, and collaborate with relevant teams to resolve any issues promptly.

● Compliance & Regulatory Support:

1. Assist the compliance team in ensuring KYC operations adhere to all applicable laws, regulations, and internal policies.
2. Stay up to date with the evolving landscape of KYC regulations to ensure ongoing compliance.
3. Support internal audits and assessments to maintain regulatory standards.

● Client Communication & Liaison:

1. Engage indirectly (and directly with merchants, for occasional cases) to request additional documentation or clarification when necessary.
2. Provide clear guidance on KYC document requirements, timelines, and submission processes to ensure smooth and efficient document collection to ground teams, support teams, and merchants (if required).
3. Regularly update merchant profiles to ensure the accuracy and completeness of information on file.

● Collaboration & Training:

1. Work closely with cross-functional teams, including legal, compliance, and risk management, to address complex KYC issues and ensure operational efficiency.

1. Provide support and training to junior team members, sharing expertise on document validation procedures and best practices.

1. Assist in streamlining and improving KYC workflows and processes.
   

Requirements:
Qualifications & Skills:
Education:
 Bachelor’s degree in law, Business, Finance, or a related field (preferred).
 Paralegal or KYC certification from well-known institutes is highly desirable.
Experience:
 A minimum of 2-3 years of experience in a paralegal, compliance, or legal support role, with a focus on KYC, financial services, or regulatory compliance.
 Prior experience in document review, legal research, and working within financial regulatory frameworks is a plus.
Skills:
 Strong understanding of KYC regulations, financial compliance standards.
 Excellent attention to detail with the ability to identify discrepancies and inconsistencies in legal and financial documentation.
 Exceptional communication skills, both written and verbal, with the ability to interact effectively with clients, stakeholders, and team members.
 Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint) and familiarity with compliance management tools.
 Strong organizational skills and the ability to manage multiple priorities in a fast-paced environment.

Personal Attributes:
 Proactive, solution-oriented, and able to work independently with minimal supervision.
 A high degree of integrity, confidentiality, and professionalism when dealing with sensitive client information.
 Ability to thrive in a dynamic and fast-changing regulatory environment.