Assistant Manager, Risk & Compliance

1 Utama Shopping Centre; Selangor; On-site; MYR 60,000 - 80,000; Full time

Job summary

A leading e-wallet service provider in Malaysia is seeking a Compliance Officer to ensure adherence to legal and regulatory requirements. This role involves monitoring transactions, implementing anti-money laundering policies, and conducting compliance audits. The ideal candidate has at least 5 years of experience in compliance within the financial services industry and holds a Bachelor's degree. Strong analytical and communication skills are essential, along with proficiency in compliance software.

Qualifications

• Minimum of 5 years of experience in compliance, risk management or legal roles.
• Strong understanding of AML, KYC, and CFT regulations.
• Legal background can be an advantage.

Responsibilities

• Ensure compliance with legal and regulatory requirements.
• Monitor user transactions for suspicious activity.
• Prepare compliance reports for management.
• Act as point of contact for regulators.

Skills

Analytical skills

Strong communication skills

Attention to detail

Proficiency in compliance software

Education

Bachelor’s Degree in Risk Management, Accountancy, Finance, Law or related.

CAMS or CFE certification preferred

Tools

Compliance software

Job description

The Compliance Officer ensures that all operations of the e-wallet platform are conducted in full compliance with legal and regulatory requirements. This includes monitoring transactions, investigating suspicious activities, and ensuring adherence to anti-money laundering (AML), combating the financing of terrorism (CFT), and data protection laws.

Key Responsibilities

Regulatory Compliance

• Stay updated on all relevant regulations, laws, and industry standards, including AML, CFT, TFS, PFS and data protection.
• Ensure the company’s e-wallet services meet legal requirements in all jurisdictions where the company operates.
• Act as liaison with Bank Negara Malaysia and other regulators on matters related to compliance and maintain the e-wallet and other relevant licences.
• Develop, implement and improve frameworks, policies, procedures and action plans to ensure compliance with all laws, regulations and guidelines, including anti-money laundering (AML), counter financing of terrorism (CFT), targeted financial sanctions (TFS) and proliferation financing (PFS) rules and regulations.
• Prepare and submit regulatory filings and reports as required by financial authorities.
• Conduct risk assessments to identify compliance risks associated with new products, services, and geographic expansion.

Transaction Monitoring

• Monitor user transactions and account activity to detect any suspicious activity or potential fraud.
• Implement and maintain transaction monitoring systems to identify red flags and escalates concerns to relevant authorities when necessary.

Anti-Money Laundering (AML)

• Develop and maintain AML policies and procedures.
• Ensure effective Know Your Customer (KYC) protocols are in place to verify user identities and prevent financial crimes.
• Lead the investigation of suspicious activity reports (SARs) and ensure they are filed in a timely manner.
• Prep for annual and ad-hoc audits conducted by internal/external auditors representing Risk & Compliance Unit.

Compliance Audits & Reporting

• Prepare and present compliance reports to senior management and external auditors.
• Develop and deliver regular compliance training programs for employees.
• Ensure that all relevant staff understand the legal requirements and policies in place to protect the organization from regulatory breaches.
• Investigate any compliance breaches, fraud, or potential misconduct within the platform.
• Implement corrective actions and maintain a detailed record of incidents and resolutions.

Liaison with Regulators

• Act as the point of contact for regulatory bodies, auditors, and other external entities regarding compliance matters.
• Handle regulatory inquiries and investigations related to e-wallet operations.

Fraud Detection and Prevention

• Oversee the development and execution of fraud detection strategies to minimize risk across all e-wallet transactions.
• Utilize fraud detection tools and monitoring systems to identify potentially fraudulent activities in real-time.
• Work closely with data analytics and technical teams to enhance fraud detection algorithms and improve transaction monitoring systems.
• Set up and manage fraud alerts for high-risk transactions, ensuring that they are investigated promptly.

Qualifications

Education

• Candidate must possess at least a Bachelor’s Degree in Risk Management, Accountancy, Finance, Law or a related Business Administration field.
• Professional certifications such as CAMS (Certified Anti-Money Laundering Specialist) or CFE (Certified Fraud Examiner) are preferred.
• Legal background and relevant qualifications can be an advantage.

Experience

• Minimum of 5 years of experience in compliance, risk management, or legal roles in the financial services industry, with a focus on digital payments or e-wallet services.
• Strong understanding of AML, KYC, CFT regulations, and financial crimes prevention.

Skills

• Excellent knowledge of global financial regulations and payment systems.
• Analytical skills with the ability to assess compliance risks.
• Strong communication skills, both written and verbal, to effectively interact with internal teams, regulators, and customers.
• Attention to detail and strong problem‑solving skills.
• Proficiency in compliance software and tools for monitoring transactions and generating reports.

Personal Attributes

• High ethical standards and integrity.
• Ability to handle sensitive information and maintain confidentiality.
• Strong organizational skills with the ability to prioritize tasks.