What we do, and why we do it
The banking system is evolving to give consumers the transparency, control and financial wellbeing they deserve. In a world where technology can change how we live for the better, there is no reason to be burdened by legacy systems, bureaucracy and mediocrity. Its time for a change, and you can be part of this revolution!
BigPay is everything you wish your bank was: fair, transparent, frictionless. We went back to the drawing board to explore how new technologies could bring power back to you. Our goal is to solve real world money problems for millions of people by empowering them, and providing a simple interface for users to send, receive and track their money.
Life at BigPay
Were fast, curious and ambitious. We are on a fearless adventure to change financial services for consumers, and we value ownership, initiative and leadership from everyone in the company. Were going out of our way to recruit the most intelligent, creative and talented people in the world. We want innovators, and that means maintaining an environment where they can flourish. Our only boss is the consumer. BigPay values highly collaborative, hard working people, who can deconstruct problems on the fly and take the team with them, while being inventive, iterative and agile. We never want to reach a stage where you are not challenged on a daily basis because it means were not going fast enough.
Why BigPay
- Join a fearless adventure, where your opinion and input is highly contributional
- Work in a fast paced, growing company where you will be empowered to succeed
- An environment where you can challenge and be challenged
- You will be surrounded by a multidisciplinary group of experts
- Competitive salary & benefits
We are looking for
We are looking for a senior and highly experienced Compliance Officer who will be responsible for developing, implementing and administering all aspects of the Companys compliance management program in accordance with the regulations and as the 2nd line of defence. The successful candidate will carry out all compliance related activities and ensure compliance with the applicable local laws, rules, regulations and standards, and effectively ensure regulatory conformity and minimize probability of exposure to ML/TF.
Overview of function:
The main responsibility of this function will cover AML/CFT prevention, risk mitigation and overseeing and ensuring that the appropriate controls are in place.
Responsibilities:
- Ensuring the Companys compliance with the AML/CFT requirements and the regulatory framework;
- Ensure proper implementation of the AML/CFTpolicies.
- Drafting, reviewing, improving and maintaining standard operating policies, procedures, manuals and the frameworks in respect of AML/CFT.
- Taking the appropriate steps to ensure that the appropriate AML/CFT procedures, including but not limited to, CDD, ECDD, record keeping, on-going due diligence and monitoring, reporting of suspicious transactions, risk based assessments and combating the financing of terrorism, are implemented effectively and undertaking the relevant quality assurance in terms of assessment.
- Develop compliance initiatives and programs to comply with the respective regulatory obligations and taking the appropriate steps to ensure that the AML/CFT mechanism and controls are regularly assessed as and where required to ensure that it is effective and sufficient to address any change in ML/TFtrends and associated risks
- Aiding in the improvement of tools to monitor, analyse, and report suspicious activity.
- Taking the appropriate steps to ensure that the channel of communication from the respective employees to the compliance officer is secured and that information is kept confidential.
- Overseeing compliance training (and refresher) programs and taking the appropriate steps in making employees aware of the Companys AML/CFT measures, including risks, policies, control mechanisms and the channel of reporting.
- Appropriately evaluating internally generated suspicious transaction reports before a decision is made to raise and submit the requisite STRs to the regulator.
- Ensuring consistent and timely feedback on cases that have been escalated for review.
- Ensuring detailed and prompt investigation of all AML/CTF incidents and cases that have been raised.
- Identifying any AML/CTF loopholes and providing solutions and coordinating projects to bridge those gaps.
- Identifying the ML/TF risks associated with new products or services or arising from the Companys operational changes, including introduction of new technology and processes.
- Identifying and advising management and employees of any changes to legislation and other regulatory requirements including but not limited to AML/CTF.
- Keeping updated and being informed on the latest developments in ML/TF techniques and typologies as well as the AML/CFT measures undertaken by the industry.
- Advising senior management and the Board on emerging compliance issues and risks and consulting and guiding the Company in the establishment of controls and mechanisms to mitigate such risks.
- Prepare for examinations by the regulator, auditors or any relevant authority.
Requirements:
- Academic background: Bachelor of Law or Economics Degree or equivalent. In addition, Certification in Regulatory Compliance, professional qualifications or accreditation in the field of compliance, AML and Financial Crime Prevention from the AICB or ICA is a major advantage.
- Experience: At least 9 years or more working experience in a business environment, fintech and/or a start-up specialising in financial services i.e. e-money business and remittance business operations. Competency, capability and expertise in AML/CFT matters is a must.
- Knowledge: Excellent knowledge and understanding of the Malaysian regulations is a must. These include the Financial Services Act 2013, the Anti-Money Laundering regulations, including AML/CFT: Electronic Money and Non-Bank Affiliated Charge & Credit Card (Sector 4); AML/CFT: Money Services Business (Sector 3); AML/CFT: Money Services Business (Sector 3) Supplementary Document No. 1; Standard Guidelines on AML/CFT issued by the Financial Intelligence and Enforcement Department, BNM; Anti-Money Laundering Act and Terrorism Financing Act (AMLATFA); Guidelines on Electronic Money (E-Money) and any other circulars or directives issued by the regulator or any other authorities from time to time relating to compliance with AML/CFT requirements.
- Range of Responsibility/Strategic impact: Used to working under deadlines and under pressure: ability to set up new activities, tackling issues quickly and efficiently; high level of responsibility and in engagement with the regulatory authorities.
- Autonomy & required Initiative: Articulate and ability to use initiative, analytical skills and logical abilities and work with minimal supervision with a strong commitment to ensure regulatory compliance.
- Good communication skills and proficient in the English language (both written and spoken).
- Probity and reputation: High degree of professional ethics and personal integrity.
- Good interpersonal skills and the ability to interact with all levels of staff / diverse personalities.
- Professional appearance and demeanor.
