This position reports directly to the Regulatory Risk & Compliance Manager (RRCM) – MFS and will be responsible to support the day-to-day compliance efforts related to Anti Money Laundering and the Counter Financing of Terrorism (“AML/CFT”) and Fraud Prevention.
The successful candidate will be also responsible for ensuring that the company is aligned with different scheme and mobile financial services rules and requirements while keeping abreast with regulatory reforms. Additionally, your role will be centred on creating a method for identifying risks, making changes, and communicating clearly with project stakeholders regarding MyCash compliance requirements. The ideal candidate will thrive when working cross-functionally and building strong relationships across a number of functions.
- Conduct Compliance checks and branch visits;
- Ensure the smooth functioning of the live transaction monitoring process;
- Continuously review, and secure customer due diligence and enhanced due diligence information to facilitate the release of transaction alerts issued by our transaction monitoring systems (automatic and manual);
- Review notification hits and transfers blocked by our transaction monitoring systems (automatic and manual);
- Ensure that proper identification documents and the required recordkeeping information are received before releasing transactions that meet the recordkeeping requirements;
- Maintain a thorough understanding of AML typologies relating to the international remittance business as well as the different local Mobile Wallet operations such as P2P, Cash In/Out, Payment to Merchants (Including QR Codes) and any other the business decide to incorporate in the future;
- Investigate Internal Suspicious Transaction Reports (ISTRs) received from Staff and Agent and forward details of review to the RRCM – MFS, and action decision communicated;
- Keep abreast of compliance developments and evaluate the MyCash compliance regulations and industry compliance trends;
- Keep abreast of changing mobile money (MyCash) requirements and update Company’s policies and contracts to remain compliant;
Academic qualifications, experience and skills required for this role
- Bachelor of Accounting, Criminal Sciences, Law or a related field
- At least two (2) years’ experience, working in a similar capacity within a financial institution. Member of Association of Certified Anti-Money Laundering Specialist (ACAMS) or equivalent qualification (Desirable);
- Financial services/banking background;
- Understanding of remittances, payment flows, alternate payments, and international money transfers;
- Good computer skills (especially proficiency in Microsoft) or specific transaction monitoring systems.