JOB ALERT : Senior Manager – Legal (Regulatory)-PhonePe-Bangalore

About PhonePe

PhonePe is India’s leading digital payments platform with over 280 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold, and make investments. PhonePe went live for customers in August 2016 and was the first non-banking UPI app and offered money transfer to individuals and merchants, recharges and bill payments to begin with. In 2017, PhonePe forayed into financial services with the launch of digital gold, providing users with a safe and convenient option to buy 24-karat gold securely on its platform. PhonePe has since launched Mutual Funds and Insurance products like tax-saving funds, liquid funds, international travel insurance, Corona Care, a dedicated insurance product for the COVID-19 pandemic among others.

PhonePe launched its Switch platform in 2018, and today its customers can place orders on over 300 apps including Ola, Myntra, IRCTC, Goibibo, RedBus, Oyo etc. directly from within the PhonePe mobile app. PhonePe is accepted at over 18 million merchant outlets across 500 cities nationally.

The Role
i. Part of BFSI Regulatory and Legal team with experience in any one of the BFSI sectors like Stock Broking / Asset Management Company and open to work for all BFSI sectors. The role may involve preparation, finalization, presentation of applications including license/ registration application to the Regulators, tracking Regulatory developments, preparation of Regulatory manuals for internal teams, interpretation of regulations, providing opinions on regulatory matters, coordination with internal teams, assisting in updating or drafting new polices on the basis of regulatory developments.
ii. Have experience of Regulatory Interactions along with strong commercial understanding and negotiating skills.
iii. Assist in developing standards for BFSI which are aligned to the Regulations / regulatory requirements and internal policies/procedures.

Description of work areas

A) Stock Broking
i. Advice Business, Operations team and Technology teams on Stock Broking products/ processes/ systems from a legal perspective.
ii. Track new legal / regulatory developments in Stock Broking businesses.
iii. interact with Exchanges on the various business processes including approvals/reporting.
iv. Support Compliance team in submission of reports with Exchanges
v. Coordinate with other internal teams for implementation of regulatory asks.

B) Regulatory:
i. Providing legal advice to business / compliance/ tech/ operations/ product on day to day operations of the business.
ii. Preparing and filing the new or renewal license applications and managing database for license applications and regulatory
correspondence.
iii. Coordination with teams to ensure timely completion of all requirements and filing of the application.
v. Interacting with Regulators on regular basis in relation to applications/ licenses/ queries.
vi. Preparation of Regulatory Manuals / Guardrails for business including for any scheduled / unscheduled inspection by Regulators.

C) Process:
i. Communications with relevant internal and external parties – business teams, Compliance, Tech or operations teams for resolution of their queries.
ii. Managing License database on a regular basis.
iii. Keep abreast of legislative change; maintain current knowledge of alterations in legislation to continue to improve contract versions
iv. Co-ordinate with Regulators

Ideal Candidate

i. LL.B/ LLM
ii. Minimum 11 years post-qualification experience. Should be open to work in all BFSI sectors. A right mix of law firm and in-house counsel experience in Stock broking, Asset Management Company or other financial services would be preferred.
iii. Have strong drafting and communication skills.
iv. Overall good legal knowledge (financial sector laws, corporate law, business laws, data privacy, info sec standards, etc)
v. Experience of interaction with BFSI Regulators.

Expectations other than qualification & technical experience:
i. Committed and ready to work under pressure and ever evolving possibilities.
ii. Ready to travel with sense of urgency. (occasionally this may be required).
iii. High degree of professional ethics and integrity, good analytical skills and interpersonal skills.
iv. Willingness to learn, improve and challenge the status quo for the better

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