FEMA Compliance Officer

Glomopay, the first licensed Payment Service Provider (PSP) at GIFT IFSC and a pioneer in cross-border payments, is seeking an experienced FEMA Compliance Officer to join our Bangalore/GIFT team. With over 100+ years of combined expertise in the cross-border payment space, our team is dedicated to delivering seamless and compliant financial solutions. The ideal candidate will play a key role in ensuring adherence to the Foreign Exchange Management Act (FEMA) and related regulations, while supporting our mission of driving innovation in global payments.

Key Responsibilities

Regulatory Compliance

• Ensure compliance with FEMA provisions, including foreign direct investments (FDI), external commercial borrowings (ECB), overseas direct investments (ODI), and cross-border remittances.

• Stay updated on RBI circulars, notifications, and guidelines, and implement necessary changes in internal processes.

• Oversee regulatory filings such as FC-GPR, FC-TRS, ECB-2, ODI reports, and Annual Performance Reports (APR) to ensure timely and accurate submissions.

Policy Development & Implementation

• Develop and enforce internal compliance policies aligned with FEMA and RBI regulations.

• Conduct regular audits of cross-border transactions to identify risks or non-compliance issues.

• Design and deliver training programs to enhance employee awareness of FEMA regulations and compliance standards.

Risk Management

• Identify risks associated with foreign exchange transactions and cross-border payment activities.

• Recommend corrective actions to mitigate compliance risks while supporting business objectives.

• Serve as the primary point of contact during regulatory audits or inspections by RBI or other authorities.

Reporting & Monitoring

• Maintain detailed records of all FEMA-related filings, transactions, and communications.

• Prepare periodic compliance reports for senior leadership to ensure transparency and informed decision-making.

• Monitor regulatory developments in FEMA and advise management on their potential impact.

Advisory Support

• Provide expert guidance to business units on FEMA-related matters such as FDI limits, permissible transactions, and reporting obligations.

• Collaborate with legal teams to address compliance-related legal challenges effectively.

Qualification

Bachelor’s degree in Finance, Law, Business Administration, or a related field. A master’s degree or professional certification in compliance or regulatory affairs is preferred.

Experience

• Minimum 3–5 years of experience in FEMA/RBI compliance within financial institutions or multinational companies.

• Proven track record of handling regulatory filings such as FC-GPR, FC-TRS, ECB returns, and Annual Returns on Foreign Liabilities & Assets.

Skills

• In-depth knowledge of FEMA provisions, RBI/SEBI guidelines, and international payment regulations.

• Strong analytical skills with the ability to translate complex regulatory requirements into actionable business practices.

• Proficiency in documentation tools and compliance management platforms.

• Excellent communication skills for interacting with regulators, stakeholders, and internal teams.

Why Join Glomopay?

At Glomopay, we are redefining the future of global payments as the first licensed PSP at GIFT IFSC. Our team’s unmatched expertise—over 100+ years of combined experience in cross-border payments—offers a unique opportunity for you to work alongside industry leaders. Join us to be part of a dynamic organization that values innovation, integrity, collaboration, and professional growth.