[Hiring] Principal Officer – Payment Service Provider @Alpaca

Role Description

The Principal Officer shall be responsible for regulatory compliance, AML/CFT oversight, FEMA adherence and governance of the PSP operating in IFSC, particularly in support of an affiliated Broker-Dealer. The role ensures that all payment flows, client fund movements, and cross-border transactions linked to brokerage operations are fully compliant with IFSCA, FEMA, and PMLA requirements. The Principal Officer shall act as the primary interface with IFSCA, FIU-IND, AD Banks, and other authorities.

Key Responsibilities

• IFSCA Regulatory Compliance
  • Ensure compliance with IFSCA (Payment Services) Regulations and applicable circulars.
  • Oversee adherence to licensing conditions, capital requirements, safeguarding norms, and operational controls.
  • Ensure timely filing of regulatory returns, certifications, and supervisory responses.
  • Act as the designated regulatory liaison with IFSCA.
• Integration with IFSC Broker-Dealer
  • Oversee compliant fund flows between client bank accounts, PSP systems, and Broker-Dealer trading accounts.
  • Ensure segregation and safeguarding of client funds in alignment with IFSCA and exchange norms.
  • Coordinate onboarding standards to ensure consistency in KYC/AML between PSP and Broker-Dealer.
  • Monitor risks arising from intra-group transactions and cross-entity settlements.
  • Support seamless funding, margin transfers, withdrawals, and settlement processes for trading activities.
• FEMA & Cross-Border Compliance
  • Ensure adherence to FEMA, 1999 and applicable foreign exchange regulations in IFSC.
  • Oversee structuring and documentation of cross-border transactions linked to brokerage and investment activity.
  • Coordinate with AD Banks in IFSC for reporting and reconciliations.
• PMLA / AML / CFT Oversight
  • Act as the designated Principal Officer under PMLA.
  • Implement and supervise AML/CFT framework including KYC, CDD/EDD, sanctions screening, and transaction monitoring.
  • Ensure timely filing of STRs and other required reports with FIU-IND.
  • Conduct periodic AML risk assessments covering payment and trading-linked flows.
• Governance, Compliance, Risk & Controls
  • Report compliance and risk matters to the Board.
  • Ensure implementation of Board-approved policies (AML, Risk, IT/Cybersecurity, Outsourcing).
  • Oversee internal controls, audit coordination, and remediation of regulatory observations.
  • Ensure robust reconciliation, settlement integrity, and operational risk management.

Benefits

• 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