About The Role We are looking for a meticulous and finance-savvy Manager - Escrow & Banking Operations to own one of the most regulated and critical functions in our RBI-licensed Payment Aggregator (PA) and Prepaid Payment Instruments (PPI) business. You will be responsible for ensuring that funds held in PA escrow accounts and PPI customer fund accounts are managed, reconciled, and disbursed in strict accordance with RBI PA and PPI Master Directions respectively. This role demands a rare combination of treasury operations expertise, banking relationship management, and regulatory precision across two distinct but interlinked fund management regimes.

What You'll Do PA Escrow Account Management Own the day-to-day management of all PA escrow accounts as mandated by RBI—ensuring funds collected from customers on behalf of merchants are held, tracked, and disbursed within prescribed timelines

Ensure escrow account operations comply fully with RBI PA Master Directions, including fund holding periods, permissible credits/debits, and prohibition on lien or hypothecation

Maintain real-time visibility into escrow account balances, pending settlements, and float positions; produce daily escrow MIS for senior management

Coordinate with the Finance team for accurate ledger entries, provisioning, and month-end escrow reconciliation PPI Customer Fund Management Own the management of customer funds held against outstanding PPI balances (wallets/prepaid instruments) in the designated bank account as required under RBI PPI Master Directions

Ensure the PPI customer fund account is maintained with an RBI-approved scheduled commercial bank and that the balance at all times equals or exceeds the aggregate outstanding PPI liabilities—monitored on a daily basis

Manage the reconciliation of PPI issuance, loads, redemptions, transfers, refunds, and expirations against the customer fund account balance; ensure zero discrepancy between system-of-record PPI liabilities and actual bank balance

Oversee the process for handling unclaimed/expired PPI balances in accordance with RBI PPI Master Directions,



including transfers to the designated unclaimed liability account and prescribed reporting

Coordinate with the Finance and Product teams for float income accounting, interest accrual on PPI customer funds, and any permissible deployment of idle PPI float within RBI-approved instruments

Ensure PPI fund account documentation, authorised signatory details, and bank mandate records are current and accessible for regulatory inspection Settlement Operations Manage outward settlement cycles to merchants—ensuring timely disbursement of collected funds net of applicable fees, refunds, and holdbacks

Oversee inward fund flows from acquiring banks and payment networks into the escrow account; reconcile inward remittances daily

Manage settlement timelines for different merchant categories (T+1, T+2, etc.) as defined by RBI and internal policy

Resolve settlement disputes, short-payment queries, and reconciliation breaks with merchants, banks, and payment operations teams Nodal & Banking Relationships Manage the relationship with nodal and escrow banks—coordinating for account maintenance, limit reviews, current account setups, and operational escalations

Ensure all banking documentation (board resolutions, authorised signatory updates, KYC renewals) is current and accurate

Evaluate and onboard new banking partners as needed to support business growth and geographic/product expansion

Coordinate with banks for NACH/e-NACH setups, debit mandates, and recurring payment infrastructure Reconciliation & Controls Own the end-to-end reconciliation of escrow positions, settlement payouts, refunds, chargebacks, and fee deductions—with zero tolerance for unresolved breaks

Design and implement reconciliation controls, exception management workflows, and four-eye verification for large-value transactions





Support internal and statutory audits by providing escrow account documentation, transaction trails, and reconciliation proofs Regulatory Reporting Prepare and submit PA escrow-related and PPI customer fund-related reports and data as required by RBI and internal governance frameworks

Monitor changes in RBI guidelines relating to both PA escrow and PPI fund management; proactively implement required operational changes

Maintain audit-ready records of all fund account movements, reconciliation proofs, and regulatory submissions for both PA and PPI operations What We're Looking For Bachelor's or Master's degree in Finance, Commerce, CA (Inter/Final), or a related field

5-8 years of experience in treasury operations, escrow management, or banking operations at a payment aggregator, NBFC, or scheduled commercial bank

Deep understanding of RBI PA Master Directions pertaining to escrow accounts, fund holding norms, and settlement timelines

Working knowledge of RBI PPI Master Directions—specifically requirements around customer fund safeguarding, permissible fund deployment, unclaimed liability handling, and daily balance adequacy

Hands-on experience with nodal/escrow account management, RTGS/NEFT operations, and inter-bank fund transfers

Strong reconciliation skills; proficiency in Excel and experience with reconciliation tools or ERP systems (SAP/Oracle/Tally)

Familiarity with NACH/e-NACH infrastructure and recurring payment settlement mechanics

High attention to detail, strong controls mindset, and ability to manage high-value financial flows accurately across multiple fund account types Nice to have CA qualification or ICWA/CMA certification

Prior experience setting up or managing escrow/fund operations for both a PA and a PPI licence holder

Experience with treasury management systems (TMS) or payment operations platforms

Understanding of float income management, idle PPI fund deployment within RBI-permitted instruments, and interest reconciliation

Familiarity with RBI's framework for unclaimed PPI liabilities and prescribed treatment timelines

📌 Manager - Escrow & Banking Operations (Uttar Pradesh)
🏢 Olik Global
📍 Uttar Pradesh