Role in brief
Alpaca, a financial services company, is hiring a Principal Officer to lead regulatory compliance and anti-money laundering efforts for its payment service provider operations in India. This senior role involves ensuring adherence to local financial regulations and acting as the primary liaison with regulatory bodies. Candidates with extensive experience in Indian financial compliance, particularly with IFSCA, FEMA, and PMLA, should apply.
About the role
This role focuses on ensuring Alpaca's payment service provider (PSP) operations in India comply with all relevant financial regulations. The Principal Officer will be responsible for overseeing adherence to IFSCA (Payment Services) Regulations, including licensing conditions, capital requirements, and operational controls. A key part of the job involves managing compliant fund flows between client accounts, PSP systems, and trading accounts, ensuring all transactions meet regulatory standards.
The Principal Officer will also implement and supervise the anti-money laundering (AML) and counter-financing of terrorism (CFT) framework. This includes managing Know Your Customer (KYC) processes, customer due diligence, sanctions screening, and transaction monitoring. The successful candidate will act as the designated regulatory liaison with the International Financial Services Centres Authority (IFSCA) and other relevant authorities, reporting compliance and risk matters directly to the Board.
Alpaca is a US-headquartered broker-dealer providing brokerage infrastructure globally, serving financial institutions across 40 countries. This role is crucial for their expansion and regulatory integrity within the Indian market. The company has secured significant funding, indicating a strong growth trajectory and a commitment to building robust financial services infrastructure worldwide. The team comprises experienced professionals focused on making financial services accessible.
The salary for this role ranges from $142,000 to $238,000 USD, in addition to stock options.
Skills that matter here
- AML: This role requires implementing and supervising the anti-money laundering framework, including KYC and transaction monitoring.
- CFT: The Principal Officer will oversee the counter-financing of terrorism framework as part of regulatory compliance.
- FEMA: Ensuring adherence to the Foreign Exchange Management Act (FEMA) 1999 and related foreign exchange regulations is a key responsibility.
- PMLA: Experience with the Prevention of Money Laundering Act (PMLA) is necessary for regulatory compliance in India.
- IFSCA: The role involves ensuring compliance with IFSCA regulations and acting as the primary regulatory liaison with this authority.
- KYC: Managing Know Your Customer processes is a core part of the AML/CFT framework implementation.
Who this role suits
- A person with extensive senior-level experience in regulatory compliance within the Indian financial sector.
- Someone who is adept at managing cross-border transactions and governance in a regulated environment.
- An individual capable of acting as the primary interface with multiple regulatory authorities.
- A professional who can establish and oversee robust AML/CFT frameworks.
From the employer
- Ensure compliance with IFSCA (Payment Services) Regulations and applicable circulars.
- Oversee adherence to licensing conditions, capital requirements, safeguarding norms, and operational controls.
- Act as the designated regulatory liaison with IFSCA.
- Oversee compliant fund flows between client bank accounts, PSP systems, and Broker-Dealer trading accounts.
- Ensure adherence to FEMA, 1999 and applicable foreign exchange regulations in IFSC.
- Implement and supervise AML/CFT framework including KYC, CDD/EDD, sanctions screening, and transaction monitoring.
- Report compliance and risk matters to the Board.
- Senior level experience in regulatory compliance, AML/CFT, FEMA, PMLA, and IFSCA.
- Experience with cross-border transactions and governance.
- Ability to act as the primary interface with IFSCA, FIU-IND, AD Banks, and other authorities.
- Competitive Salary & Stock Options
- Health Benefits
- New Hire Home-Office Setup: One-time USD $500
- Monthly Stipend: USD $150 per month via a Brex Card
Questions about this role
What is the seniority level for this position?
This is a senior-level position.
What are the key regulatory bodies this role will interact with?
The role will primarily interact with IFSCA, FIU-IND, and AD Banks.
How does Alpaca support remote work for new hires?
New hires receive a one-time USD $500 home-office setup allowance and a monthly USD $150 stipend via a Brex Card.