PhonePe, one of India's leading digital payment platforms, is inviting applications for the role of Intern in Third-Party Risk Management (TPRM) at its Bangalore office. This opportunity is ideal for recent graduates and final-year students looking to begin their careers in information security, compliance, and risk management. In this article, we will cover everything you need to know about this internship, including job responsibilities, eligibility criteria, required skills, application process, and career prospects associated with this role.
About PhonePe
PhonePe is a Bangalore-headquartered digital payments company that launched its flagship application in August 2016. The platform has grown rapidly to serve over 600 million registered users and maintains a merchant network spanning more than 40 million businesses across India. The company processes approximately 330 million transactions daily, with an annualized total payment value exceeding INR 150 lakh crore. Beyond digital payments, PhonePe has expanded into financial product distribution including insurance, lending, and wealth management services. The company also operates consumer technology ventures such as Pincode, a hyperlocal ecommerce platform, and Indus AppStore, an Android-focused application marketplace tailored for Indian users.
Job Role Overview
The TPRM Intern position falls under the IT Compliance team at PhonePe. Third-Party Risk Management is a critical function in any fintech organization, especially one handling the volume and sensitivity of data that PhonePe manages daily. As an intern in this role, you will work closely with compliance professionals, business stakeholders, and external vendors to ensure that all third-party partnerships meet regulatory and security standards. This role offers hands-on exposure to real-world compliance challenges in a fast-paced fintech environment. You will gain practical understanding of how large-scale digital platforms maintain security and regulatory adherence while managing numerous vendor relationships.
Key Responsibilities
The daily responsibilities for this internship include:
- Managing queries related to Third-Party Risk Management from various internal teams and external vendors
- Collecting and organizing evidence to demonstrate ongoing compliance with regulatory requirements
- Supporting the IT Compliance team during vendor risk assessment processes
- Collaborating with business units to evaluate security and compliance posture of third-party service providers
- Assisting in compliance audits related to PhonePe's multiple licenses including Wallet, eKYC, and UPI
- Responding to stakeholder inquiries regarding TPRM policies and procedures
- Maintaining documentation related to vendor assessments and compliance activities
- Helping ensure that products and services are developed according to regulatory frameworks
Skills and Eligibility
To be considered for this internship, candidates should possess:
Skills Required:
- Basic understanding of information security concepts and frameworks
- Knowledge of Governance, Risk, and Compliance principles
- Strong verbal and written communication skills
- Ability to coordinate effectively with multiple stakeholders
- Attention to detail and organizational capabilities
- Analytical thinking and problem-solving mindset
Educational Qualification:
- Bachelor's degree or Master's degree in any discipline
- Students in their final year may also apply
- Degrees in Computer Science, Information Technology, Cybersecurity, or related fields are advantageous but not mandatory
Experience Level:
- This position is open to freshers with no prior work experience
- Relevant internships or academic projects in security or compliance are beneficial
Who Should Apply and Who Should Avoid
This internship is well-suited for:
- Freshers interested in building a career in cybersecurity, risk management, or compliance
- Students who enjoy working with processes, documentation, and cross-functional coordination
- Individuals who have a keen interest in understanding how fintech companies manage regulatory requirements
- Those who want exposure to enterprise-level security and compliance operations
- Candidates comfortable working in structured environments with clear guidelines
This role may not be ideal for:
- Individuals seeking purely technical coding or development work
- Those looking for customer-facing sales or marketing roles
- Candidates who prefer unstructured, creative roles without defined processes
- People uncomfortable with regulatory frameworks and documentation-heavy work
Salary and Stipend Insight
While PhonePe has not disclosed the exact stipend for this internship, similar compliance and risk management internships at major fintech companies in Bangalore typically offer monthly stipends ranging from INR 15,000 to INR 30,000. The actual amount may vary based on educational background, relevant coursework, and performance during the selection process. Candidates selected for full-time roles after successful completion of the internship can expect starting salaries in the range of INR 4 to 7 lakh per annum, depending on the specific role and responsibilities. It is advisable to discuss compensation details directly during the interview process.
Career Growth and Learning Opportunities
Starting your career with a TPRM internship at PhonePe offers several long-term advantages. First, you gain exposure to one of India's most successful fintech companies, which adds significant value to your professional profile. Second, compliance and risk management are growing fields with increasing demand across industries, not just in fintech but also in banking, healthcare, ecommerce, and technology sectors. Third, you will develop transferable skills such as stakeholder management, regulatory knowledge, and risk assessment methodologies that remain relevant throughout your career. Fourth, working in a company that handles hundreds of millions of transactions daily provides perspective on compliance challenges at scale, which is rare to find early in one's career. Finally, PhonePe's work culture emphasizes ownership and rapid execution, which can accelerate your professional development compared to more traditional corporate environments.
Preparation Tips
To increase your chances of selection, focus on the following areas:
Knowledge Preparation:
- Familiarize yourself with basic information security concepts such as confidentiality, integrity, and availability
- Understand what Governance, Risk, and Compliance means in a business context
- Read about common regulatory frameworks such as ISO 27001, PCI DSS, and RBI guidelines for payment systems
- Learn about third-party risk management processes and why they matter for companies
Skill Development:
- Practice clear and concise written communication
- Develop basic project management and organizational skills
- Improve your ability to read and interpret policy documents
- Work on your ability to explain technical concepts to non-technical audiences
Interview Focus:
- Be prepared to discuss why you are interested in compliance and risk management
- Have examples ready from academic projects or experiences where you demonstrated attention to detail
- Understand PhonePe's business model and regulatory environment
- Be ready to discuss how you handle multiple priorities and stakeholder requests
How to Apply
All interested and eligible candidates can apply before expire in the following link.
APPLY NOW : LINK
Frequently Asked Questions
Is this role open to freshers with no experience? Yes, this internship is specifically designed for freshers and recent graduates. No prior work experience is required, though relevant academic background or projects can be advantageous.
Where is this internship located? The position is based in Bangalore, Karnataka. Candidates should be willing to work from the PhonePe office in Bangalore.
What is the difference between intern and full-time employee benefits? As stated in the job posting, the comprehensive benefits package including medical insurance, wellness programs, parental support, and retirement benefits apply only to full-time employees and not to intern or contract roles.
Can final-year students apply for this position? Yes, students currently pursuing their final year of graduation or post-graduation are eligible to apply for this internship.
What happens after the internship period? While not explicitly mentioned, many companies including PhonePe often convert successful interns into full-time employees based on performance and business requirements. However, this should be clarified during the interview process.
Disclaimer
This article is intended for informational purposes only and is based on publicly available job posting information. We are not affiliated with PhonePe and do not guarantee job placement or selection. All candidates are strongly advised to verify job details, eligibility criteria, application deadlines, and other relevant information directly from the official PhonePe careers website or authorized recruitment channels. Application processes, job requirements, and company policies may change without notice. Readers should exercise due diligence and verify all information independently before applying.
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