Develops and oversees programs for compliance with laws, regulations, and rules governing Payment Processing. Informs and educates appropriate personnel, Senior Management Team and the Board of Directors of all related compliance responsibilities. Ensures Senior Management and Board of Directors are continuously informed of all aspects of Payment Processing activities, including an evaluation of its relative risk exposure related to Payment Processing. Reviews the Firm’s policy and procedures for compliance.
Main Job Tasks and Responsibilities:
The Compliance Officer will be responsible for leading the Firm’s compliance oversight for payment processing. The incumbent will be a subject matter expert to the company, bank partners, and brand partners.
Responsibilities include monitoring, governance, oversight, and regulatory reporting activities related to the payment processing functions. This position will collaborate and work closely with cross-functional stakeholders, including but not limited to, Legal, Finance, Internal Audit, Marketing, Product Development, and Operations. The responsibilities will include creating an innovative and scalable compliance management system and processes for oversight of the Payment Processing functions.
- Build and scale monitoring programs across business functions. Develop, administer and monitor a program that ensures the Firm’s compliance with all Payment Processing regulations and rules governing Payment Processing.
- Operationalize regulatory requirements.
- Serve as a trusted compliance advisor/partner to both internal and external stakeholders.
- Stay up to date on developing trends in the financial services industry.
- Promote a “culture of compliance” to ensure efficient and effective risk and compliance management practices by adhering to required standards and processes.
- Understand business, regulatory compliance and AML requirements for payment processors and ensure functions are being performed within those requirements.
- Participate in the development of technological enhancements.
- Possess strong knowledge of the business line, including the business plan, products.
- Review operational procedures and methods and recommend changes for improvement with an emphasis on automation and efficiency.
- Function as the liaison between the business line, operations, and the technical areas and the compliance function to ensure appropriate risk oversight.
- Understand applicable regulatory landscape and compliance requirements; with emphasis on AML requirements, customer identification procedures, due diligence best practice, and sanction screening requirements.
- Maintain up to date knowledge on regulatory changes and landscape.
- Liaise with all relevant business partners, both internally and externally.
- Stay current with evolving trends of establishing identity in a digital environment.
- Assist in the development, implementation, and periodic performance of key controls.
- Analysis of KYC products to ensure all appropriate customer documentation is on file in accordance with internal and external guidelines.
- Work with internal and external partners to establish tailored programs that include mutually acceptable modifications of standard policies & procedure, KYC templates, transactions limits, and suspicious or unusual activity monitoring.
- Maintain the Firm’s compliance library, utilizing current technology whenever possible.
- Draft comment letters regarding proposed regulatory changes affecting Payment Processing.
- Serve as an in-house expert to provide compliance advice and guidance to all Firm’s staff, addressing any compliance questions.
- Oversee Payment Processing related communication and ensure such communication is comprehensive, accessible, current, and appropriate for all employees.
The Payment Processing Compliance Officer will be responsible for ensuring that compliance practices are being followed through the internal audit process, reporting, and continued monitoring occurs.
- Bachelor’s Degree or above.
- Experience in Banking Compliance with a strong background in Payment Processing regulations.
- Experience with implementing strong compliance management system
- Strong knowledge of consumer compliance regulations
- Strong Knowledge of AML, OFAC, including requirements for KYC, and monitoring
- Focus on customer service to both external and internal customers.
- Skilled with Microsoft Word, Excel, Outlook and related software applications.
- Good verbal and written communication skills.
- Well organized; ability to multi-task; attention to detail.
- Ability to prioritize and work well under pressure and in a fast-paced environment.
- Must be able to work in a team environment and adapt to change.
- Ability to manage multiple projects and deadlines simultaneously in fast-paced, high production, professional environment.
- Must be locally available in Doha with a transferable visa
- Immediate joining preferred