Finzy Peer to Peer Compliance Analyst Interview: Rounds, Questions and Preparation

What the job involves

Compliance Analysts in neobanking, lending, and insurtech ensure that digital financial products and processes follow RBI regulations, internal policies, and data protection laws. They monitor transactions, review KYC and AML alerts, prepare regulatory reports, and work with product and tech teams to embed compliance into new features. In a fast-growing peer-to-peer lending or insurtech firm, the role also involves keeping pace with evolving digital lending guidelines and supporting audits.

Role and Technical Knowledge

1. 1

   What are the key RBI guidelines for peer-to-peer lending platforms?

   Mention the 2017 Master Directions, cap on exposure per lender and borrower, prohibition on cross-border transactions, and the need for escrow accounts. Show awareness of recent updates.

2. 2

   Explain the KYC process for a digital lending app. What are the minimum requirements?

   Cover video KYC, Aadhaar-based eKYC, PAN verification, and the need for periodic updates. Highlight the RBI mandate for customer due diligence and record-keeping.

3. 3

   What is the difference between AML and KYC? How do they work together in a neobanking context?

   AML is ongoing monitoring to detect money laundering, while KYC is the initial identity verification. Explain how KYC feeds into AML systems and triggers alerts for suspicious activity.

4. 4

   What are the compliance requirements under the Digital Personal Data Protection Act, 2023 for a lending app?

   Focus on consent, purpose limitation, data minimisation, and breach notification. Mention the need for a consent manager and penalties for non-compliance.

Practical Scenarios

1. 5

   You notice a pattern of small loans being disbursed to multiple accounts from the same IP address. What steps do you take?

   Outline immediate escalation, flagging for AML review, checking KYC records, and potentially filing a suspicious transaction report. Emphasise following internal escalation matrix.

2. 6

   A product team wants to launch a new instant loan feature without a full compliance review. How do you handle this?

   Stress the importance of compliance sign-off, risk assessment, and regulatory adherence. Suggest a phased review and working with the team to meet timelines without compromising rules.

3. 7

   How would you prepare for an RBI audit of a peer-to-peer lending platform?

   Mention gathering documentation, reviewing past audit findings, ensuring KYC and transaction records are up to date, and coordinating with internal teams. Highlight proactive gap analysis.

4. 8

   A customer complains that their loan was rejected due to a false match in a sanctions list. What do you do?

   Explain the need to verify the match, check the sanctions screening process, and if false, clear the customer and improve the screening logic. Also ensure timely communication and apology.

Behavioural and Situational

1. 9

   Tell me about a time you had to follow a rule even when it was inconvenient. How did you handle it?

   Use STAR method. Show integrity, ability to push back politely, and focus on long-term risk mitigation. Highlight communication with stakeholders.

2. 10

   Describe a situation where you had to explain a complex regulation to a non-expert. How did you ensure understanding?

   Demonstrate simplification, use of examples, and checking for comprehension. Emphasise patience and clarity.

3. 11

   You are working on multiple compliance alerts with tight deadlines. How do you prioritise?

   Discuss risk-based prioritisation, using tools or matrices, and communicating with supervisors. Show ability to stay calm and organised.

4. 12

   Why do you want to work in compliance at a fast-growing fintech, and how do you keep up with changing regulations?

   Show passion for the sector, mention sources like RBI circulars, industry newsletters, and networking. Connect personal values to compliance.

HR and Company Fit

1. 13

   What do you know about our company and its compliance challenges?

   Research the company's business model, recent news, and regulatory environment. Mention specific compliance areas like P2P lending norms or insurtech regulations.

2. 14

   How do you handle pressure and criticism when your compliance advice is not accepted?

   Show resilience, willingness to listen, and ability to escalate appropriately. Emphasise teamwork and shared goals.

3. 15

   Where do you see yourself in three years in the compliance domain?

   Align your growth with the company's needs, such as moving into senior compliance roles, specialising in AML or data privacy, or leading audits.

4. 16

   What are your salary expectations for this role?

   Research industry standards for freshers in compliance in Indian fintech. Provide a range and express flexibility based on overall compensation and learning opportunities.