Senior Payment Operations Analyst

•Are you curious, excited by experimentation and always looking for a better way of doing things?
•Do you want to keep learning and developing whilst getting hands-on experience working in the embedded payments space?
•Do you want to have the opportunity to high-growth environment with a fast-paced and collaborative culture where you will work with some fantastic clients and partners?

If so, we would love to hear from you!

We are looking for ambitious, value-adding talent to join Modulr — one of the fastest-growing payments businesses in the UK and Europe — to help drive Change and Automation across our Operations function. This role will lead process improvement, operational change and automation initiatives that enhance our financial-crime controls while delivering greater efficiency and consistently high service standards.
We are looking for a Mumbai based candidate to leverage our “Office First” strategy but the wider team is based across various locations and will support both our UK and European entities.

About us

At Modulr, our vision is a world where all businesses are powered by embedded payments. Modulr enables businesses, from SMEs to Enterprise, initially across the UK and Europe to efficiently pay-in, collect and disburse funds instantly via a range of payment schemes, accounts, and card products.
We have created an industry-leading API platform with comprehensive online tools and access, to meet the demands of daily business payments. We have two routes to market. Our Core Business Payments product allows customers in any sector to connect to us and our expanding network of accounting and payroll platforms, including Sage, Xero, BrightPay and IRIS to automate payments. Our Vertical Solutions targets a growing range of industry verticals which directly connect their IT platforms to our APIs and webhooks. We solve complex payment problems for hundreds of clients in a range of industries, including Travel, Lending, Wage Advance, and Investment & Wealth.
We are deeply integrated into the payment eco-system. In the UK, we are direct participants of Faster Payments and Bacs. Modulr hold settlement accounts at the Bank of England. Our payment network connectivity includes CHAPS, Open Banking, SEPA, SWIFT and account issuance in multiple currencies. We are principal issuing members of Visa and Mastercard schemes across UK and Europe.
Our regulatory permissions and governance structure are the foundations of our business. We are regulated and supervised as an Authorised Electronic Money Institution (AEMI) in the UK by the Financial Conduct Authority and in the Netherlands by De Nederlandsche Bank.
Our founding team has a wealth of experience in the payments industry and growing successful businesses. Modulr now has over 450 employees spread globally across offices in London, Edinburgh, Amsterdam, Mumbai and Pune.

Modulr values

•Building the extraordinary; going that extra mile.
•Owning the opportunity; be passionate and proud of the time you invest.
•Move at pace; reach goals faster whilst supported on your career journey.
•Achieve it together, working collaboratively and being a Modulite.

The role

As a Senior Payment Operations Analyst, you will thrive in an ambitious, fast‑paced, and varied environment. You will bring deep understanding of UK domestic and international payment schemes, payment infrastructures, reconciliation processes, and operational risk management. Your core purpose is to lead on complex payment investigations, drive efficient resolution, and strengthen operational excellence across investigations, reconciliations, APP fraud, and collateral management.
You will collaborate closely with product, compliance, finance, engineering, fraud, and support teams to ensure regulatory obligations are met and operational risks are effectively managed. Modulr’s rapid growth creates ongoing opportunities to enhance processes, deliver automation, and support new product and scheme initiatives.

Specific duties

•Payment Investigations & Exception Handling
•Lead and support analysts in resolving complex payment and funding issues.
•Identify root causes and drive resolutions.
•Work with UK and international payment partners to resolve operational queries.

Reconciliations & Financial Controls
•Prepare and review daily client money and bank reconciliations.
•Investigate and resolve non‑reconciled items.
•Monitor real‑time payment flows and identify trends.

APP Fraud, Collateral & Recoveries Management
•Support and lead APP fraud case handling.
•Monitor collateral accounts and limits.
•Conduct annual collateral reviews.
•Oversee recoveries and repatriation of funds.

•Incident Management & Risk Oversight
•Support incident management, including out‑of‑hours investigations.
•Assist in managing risk profiles and breach remediation.

Leadership, Quality Assurance & Training
•Quality‑check analyst work and provide coaching.
•Lead onboarding and training.
•Maintain and update documentation.

Management Information & Reporting
•Support development and delivery of MI and reporting.
•Assist in reconciliation reporting.

Key Skills

•Strong background in payment investigations, reconciliations, client money management, and/or treasury operations.
•Knowledge of FPS, BACS, CHAPS, SEPA, SWIFT.
•Awareness of financial regulations and breach reporting.
•Experience with payment failures and exceptions.
•Proactive with emerging technologies including AI.
•Strong analytical skills, SQL/Snowflake awareness, excellent Excel ability.

ModInclusion

At Modulr, we are working hard to build a more positive diverse and inclusive culture that helps everyone to feel they belong and can truly bring their whole self to work. Not only is it the right thing to do for everyone in the Modulr team, it’s also the right thing to do for our business, the community we operate in and attracting future talent. As part of our approach, we actively welcome applications from candidates with diverse backgrounds.