Senior Manager / Associate Director - Payments Risk & Compliance

Are you passionate about solving roadblocks & challenges faced by MSMEs in India?MSMEs contribute significantly to India’s total GDP. 90% of India’s ~$1 Trillion Retail Market is controlled by MSMEs. Which means ~$900B worth of commerce flows through these ~60M MSMEs in the form of shops/kiosks/homes, scattered all over the country.We at Khatabook, have built a product that saves time of MSMEs by managing their credit, and creating transparency in cash flow, henceforth increasing trust with their consumers and that paved the path for us to become India’s fastest-growing fintech company.Why work with usPeople are our biggest asset! At Khatabook, every one of us is a dynamic superstar. We have carefully bred an ecosystem which hires nothing but incredibly and exceptionally talented people who can dream, collaborate, experiment, and break new ground. We’re a strong team that looks out for each other.Your role:The role will focus on building a comprehensive risk and compliance framework across:1. Merchant Risk & OnboardingBuild robust merchant onboarding, KYB/KYC, due diligence, risk categorisation, prohibited-category, and ongoing monitoring frameworks.2. Transaction & Fraud RiskBuild systems and controls to identify, prevent, and manage fraudulent, suspicious, or abnormal payment activity across the merchant ecosystem.3. Transaction Controls & MonitoringDesign and continuously optimize transaction-level controls including rate limiting, transaction limits, velocity thresholds, behavioural rules, risk-based limits, alerts, and real-time/near-real-time monitoring.4. Regulatory ComplianceEnsure compliance with RBI, PMLA/AML, KYC, FIU, payment-network, and other applicable regulatory requirements.5. Technology & AnalyticsLeverage data, AI/ML, transaction monitoring, automated controls, and risk engines to proactively identify and manage risks.6. Business EnablementPartner with Business, Product and Technology teams to build commercially viable products and processes that balance growth, customer experience, payment success, and risk.What would you do at Khatabook:Define and implement Khatabook’s overall Payments Risk & Compliance frameworkBuild risk-based merchant onboarding, KYB/KYC, due diligence, and ongoing monitoring processesDevelop merchant risk categorisation and enhanced due diligence frameworksBuild transaction monitoring and fraud prevention frameworks across QR, UPI, and other payment productsDesign and govern transaction-level risk controls, including transaction limits, velocity limits, frequency thresholds, merchant-level thresholds, and risk-based controlsBuild rate-limiting and abuse-prevention mechanisms across payment flows and APIs in partnership with Product and TechnologyDefine rules for suspicious transaction patterns, unusual velocity, high-risk merchants/MCCs, abnormal behaviour, and emerging fraud typologiesEstablish real-time / near-real-time monitoring, alerting, blocking, holding, escalation, and investigation mechanismsContinuously tune risk rules and thresholds to balance fraud prevention, false positives, payment success rates, and customer experienceUse AI/ML, behavioural analytics, transaction intelligence, and automation to identify emerging risks beyond static rule-based controlsBuild feedback loops from fraud incidents, chargebacks, disputes, refunds, transaction failures, and merchant behaviour to improve risk controlsPartner with Compliance teams on regulatory obligations, audits, reporting, policy updates, and regulatory interactionsWork closely with Product and Technology teams to build automated risk controls, rules, alerts, and monitoring systemsOversee risk management across vendors, banks, payment networks, technology providers, and other ecosystem partnersBuild appropriate controls across merchant onboarding → transaction processing → settlement → refunds/disputes → ongoing monitoringEstablish governance around payment operations, reconciliation, settlements, disputes, and merchant/customer grievancesPartner with Product and Business teams to evaluate the risk implications of new products, merchants, use cases, and partnershipsBuild dashboards and governance mechanisms for key risk, fraud, compliance, and control metricsTrack control effectiveness through metrics such as fraud rates, false-positive rates, payment declines, suspicious transaction alerts, loss rates, and recoveryDrive closure of risk observations, audit findings, incidents, and control gapsStay ahead of changes in RBI, AML/KYC, payment-network, data, cyber, and other regulatory requirementsWork closely with senior leadership to balance business growth, customer experience, regulatory requirements, and risk appetiteWhat are we looking for:7–15 years of experience in payments, fintech, banking, NBFCs, risk, compliance, or financial servicesProven experience in payments risk, merchant risk, fraud, compliance, AML/KYC, transaction monitoring, operational risk, or related functionsStrong understanding of Payment Aggregator / Payment Gateway ecosystemsStrong understanding of RBI regulations, KYC/AML requirements, PMLA, FIU requirements, and payment-network rulesExperience with merchant onboarding, KYB/KYC, transaction monitoring, fraud detection, and risk controlsStrong understanding of transaction velocity, risk-based limits, rate limiting, transaction monitoring, fraud rules, and control frameworksExperience building or scaling risk frameworks in a high-growth environmentStrong analytical mindset with experience using data and technology to identify and manage riskExperience working with Product, Technology, Operations, Business, Legal, and Compliance teamsStrong understanding of how to balance risk, growth, payment success, customer experience, and operational efficiencyStrong strategic thinking combined with hands-on execution capabilityHigh ownership, attention to detail, and comfort operating in ambiguous environmentsEducationMBA / PGDM from a leading business school preferredIIT / IIM background preferredProfessional qualifications such as CA, CISA, CAMS, CIA, or equivalent will be an advantagePreferred BackgroundCandidates from Payment Aggregators, payment gateways, fintechs, banks, NBFCs, card networks, or digital financial services businesses will be preferred.Prior experience in a startup or high-growth environment will be a strong advantage. Experience as a founder, co-founder, founding team member, or having directly built a risk/compliance function from an early stage will be particularly valued.Candidates who have demonstrated the ability to build scalable risk frameworks while enabling business growth, rather than only managing compliance processes, will be particularly relevant.