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 us

People 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 & Onboarding

Build robust merchant onboarding, KYB/KYC, due diligence, risk categorisation, prohibited-category, and ongoing monitoring frameworks.

2. Transaction & Fraud Risk

Build systems and controls to identify, prevent, and manage fraudulent, suspicious, or abnormal payment activity across the merchant ecosystem.

3. Transaction Controls & Monitoring

Design 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 Compliance

Ensure compliance with RBI, PMLA/AML, KYC, FIU, payment-network, and other applicable regulatory requirements.

5. Technology & Analytics

Leverage data, AI/ML, transaction monitoring, automated controls, and risk engines to proactively identify and manage risks.

6. Business Enablement

Partner 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 framework
- Build risk-based merchant onboarding, KYB/KYC, due diligence, and ongoing monitoring processes
- Develop merchant risk categorisation and enhanced due diligence frameworks
- Build transaction monitoring and fraud prevention frameworks across QR, UPI, and other payment products
- Design and govern transaction-level risk controls, including transaction limits, velocity limits, frequency thresholds, merchant-level thresholds, and risk-based controls
- Build rate-limiting and abuse-prevention mechanisms across payment flows and APIs in partnership with Product and Technology




- Define rules for suspicious transaction patterns, unusual velocity, high-risk merchants/MCCs, abnormal behaviour, and emerging fraud typologies
- Establish real-time / near-real-time monitoring, alerting, blocking, holding, escalation, and investigation mechanisms
- Continuously tune risk rules and thresholds to balance fraud prevention, false positives, payment success rates, and customer experience
- Use AI/ML, behavioural analytics, transaction intelligence, and automation to identify emerging risks beyond static rule-based controls
- Build feedback loops from fraud incidents, chargebacks, disputes, refunds, transaction failures, and merchant behaviour to improve risk controls
- Partner with Compliance teams on regulatory obligations, audits, reporting, policy updates, and regulatory interactions
- Work closely with Product and Technology teams to build automated risk controls, rules, alerts, and monitoring systems
- Oversee risk management across vendors, banks, payment networks, technology providers, and other ecosystem partners
- Build appropriate controls across merchant onboarding → transaction processing → settlement → refunds/disputes → ongoing monitoring
- Establish governance around payment operations, reconciliation, settlements, disputes, and merchant/customer grievances
- Partner with Product and Business teams to evaluate the risk implications of new products, merchants, use cases, and partnerships
- Build dashboards and governance mechanisms for key risk, fraud, compliance, and control metrics
- Track control effectiveness through metrics such as fraud rates, false-positive rates, payment declines, suspicious transaction alerts, loss rates, and recovery
- Drive closure of risk observations, audit findings, incidents, and control gaps
- Stay ahead of changes in RBI, AML/KYC, payment-network, data, cyber, and other regulatory requirements
- Work closely with senior leadership to balance business growth, customer experience, regulatory requirements, and risk appetite

What are we looking for:

- 7–15 years of experience in payments, fintech, banking, NBFCs, risk, compliance, or financial services
- Proven experience in payments risk, merchant risk, fraud, compliance, AML/KYC, transaction monitoring, operational risk, or related functions
- Robust understanding of Payment Aggregator / Payment Gateway ecosystems
- Strong understanding of RBI regulations, KYC/AML requirements, PMLA,



FIU requirements, and payment-network rules
- Experience with merchant onboarding, KYB/KYC, transaction monitoring, fraud detection, and risk controls
- Strong understanding of transaction velocity, risk-based limits, rate limiting, transaction monitoring, fraud rules, and control frameworks
- Experience building or scaling risk frameworks in a high-growth environment
- Strong analytical mindset with experience using data and technology to identify and manage risk
- Experience working with Product, Technology, Operations, Business, Legal, and Compliance teams
- Strong understanding of how to balance risk, growth, payment success, customer experience, and operational efficiency
- Strong strategic thinking combined with hands-on execution capability
- High ownership, attention to detail, and comfort operating in ambiguous environments

Education

- MBA / PGDM from a leading business school preferred

- IIT / IIM background preferred

- Professional qualifications such as CA, CISA, CAMS, CIA, or equivalent will be an advantage

Preferred Background

- Candidates 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.

About Khatabook

We exist to empower India’s 60 Million strong MSMEs. Our users’ motives, methodology, expectations and behaviour are significantly different from our own when they interact with the internet and technology ecosystem which makes it harder to build for them, to solve that. Our first offering – is an Android App that has been downloaded over 10 crore+ times, which has resulted in having an active merchant base of over 9 million users.

As more businesses are adopting digital for business than ever before, Khatabook’s goal can be summed up simply - Empowering merchants by simplifying their business by

- Building a complete business management platform.
- Helping businesses increase their incomes by providing them the power of technology and ammunition of insights & digital reports.
- Offering a platform catering to the specific needs of the MSME space.

We are an equal opportunity workplace. We expect your authentic, original selves at work always and stand against discrimination on the basis of caste, creed, gender, religion or background.

📌 Senior Manager / Associate Director - Payments Risk & Compliance (Bengaluru)
🏢 Khatabook
📍 Bengaluru