Assistant Manager / Manager - Risk & Compliance

Job Title: Assistant Manager / Manager

Job Level: Mid-level

Report to: General Manager

Department: Operations – Risk & Compliance

Organization: Airpay Payment Services Pvt. Ltd ( https://www.airpay.co.in/ )

Location: Andheri (Mumbai) / Turbhe (Navi Mumbai)

Key Responsibilities:

Monitoring & Alert Management

• •Handle fraud, Risk, AML and transaction monitoring alerts end-to-end, including investigation, decisioning, escalation and closure.
• •Bring 6+ years of hands-on experience in managing and closing alerts across multiple fraud and risk scenarios.
• •Ensure adherence to internal SLAs, policies, and regulatory requirements.

Rule Management & Alert Configuration

• •Review, configure, and optimise monitoring rules, thresholds, and alerting mechanisms to improve fraud detection effectiveness.
• •Analyse alert performance and recommend enhancements to reduce false positives while maintaining adequate risk coverage.
• •Work closely with Product, Risk, Operations, and Technology teams to implement monitoring improvements.

Regulatory & Law Enforcement Management

• •Handle requests and investigations from Law Enforcement Agencies (LEAs), regulatory bodies, banks and other external stakeholders.
• •Ensure timely response and compliance with regulatory and internal governance requirements.
• •Support investigations involving fraud, suspicious activity and financial crime.

Team Supervision & Quality Assurance

• •Monitor team productivity, investigation quality, and operational efficiency.
• •Review alerts handled by analysts and audit customer interactions/calls to ensure adherence to defined procedures.
• •Provide coaching, feedback, and training to improve team performance and investigation quality.
• •Drive process improvements and best practices across the monitoring function.

Fraud Risk & Intelligence

• •Identify emerging fraud trends, attack vectors, and new business-specific fraud patterns.
• •Recommend appropriate controls, monitoring strategies, and preventive measures.
• •Collaborate with internal stakeholders to strengthen fraud prevention and detection capabilities.

Data Analysis & Reporting

• •Analyse large datasets to identify anomalies, trends, and risk indicators.
• •Prepare operational MIS, investigation reports, and fraud trend analysis for management review.
• •Support root-cause analysis and risk assessments using data-driven approaches.

Technical & Domain Expertise

• •Demonstrate strong understanding of the payments ecosystem, including Payment Gateways, UPI, Cards, Net Banking, Wallets, PPI, Merchant Acquiring and Banking Operations.
• •Possess hands-on knowledge of payment fraud typologies, including account takeover, mule activity, merchant fraud, identity fraud, chargeback fraud, friendly fraud, refund abuse, and transaction laundering .

Required Qualifications:

• •Bachelor’s degree in finance, Commerce, Economics, Business Administration, Statistics, Risk Management or a related field.
• •Relevant certifications in Fraud Risk Management, AML, Financial Crime Compliance or Risk Management.

Skills and Experience:

• •Minimum 6+ years of hands-on experience in Fraud Monitoring, Risk Operations, AML Operations, Transaction Monitoring, Financial Crime Investigations or related functions.
• •Proven experience handling alerts from investigation through closure.
• •Experience in configuring and optimising monitoring rules, thresholds and alerting frameworks.
• •Experience handling LEA, regulatory, banking and compliance-related requests.
• •Strong expertise in Fraud Risk Management, AML Operations, Transaction Monitoring and Payment Fraud.
• •Experience working with large volumes of transactional and operational data.
• •Prior experience in monitoring analyst performance, quality reviews and team supervision.