Associate Supervisor/Supervisor, Supervision | Payment Services Supervision

Bank Negara Malaysia; Kuala Lumpur; On-site; MYR 60,000 - 96,000; Full time

Job summary

Bank Negara Malaysia is seeking to supervise and regulate payment service regulatees, ensuring safety, stability and integrity of payment systems while protecting public interest.

The role covers supervisory and enforcement actions, risk assessment, and timely processing of regulatory applications under the department’s framework and SOPs.

Qualifications

• Degree in Accounting, Finance, Banking, Economics, Law, Business, IT or equivalent.
• Minimum 2 years of relevant experience.

Responsibilities

• Plan, organise and execute the supervision of payment service regulatees in accordance with the department’s supervisory framework.
• Undertake supervisory and enforcement actions in response to breaches and non-compliances.
• Identify and assess material risks within payment service regulatees and initiate remedial measures.
• Administer regulatory applications from payment service regulatees in accordance with laws, guidelines and SOPs.
• Develop and strengthen technical and leadership skills through ongoing self development.

Skills

Regulatory compliance

Risk assessment

Stakeholder collaboration

Onsite supervision

Education

Degree in Accounting, Finance, Banking, Economics, Law, Business, IT

Job description

Jora Malaysia will close on 9th September 2026. Thank you for being with us, we are cheering you on as you continue your career journey.

Plan, organise and execute the supervision of assigned payment service regulatees (both payment service providers and money services business) in accordance with the department’s supervisory framework, with the objective of ensuring the Bank’s regulatory goals for the safety, stability and integrity of payment systems are achieved, while safeguarding public interest.

Undertake supervisory and/or enforcement actions in response to breaches and non-compliances with the laws and regulatory requirements administered by the Bank.

Identify and assess material risks or vulnerabilities within payment service regulatees, as well as initiate timely and proportionate preventive or remedial measures.

Administer regulatory and legal requirements through the timely processing of applications from payment service regulatees, in accordance with applicable laws, regulations, guidelines and circulars issued by the Bank, as well as internal standard operating procedures (SOPs).

Principal Accountabilities

Supervisory & Enforcement

• Perform ongoing monitoring on compliance with regulatory requirements including all applicable laws and policy documents.
• Assess the risk profile, governance, and adequacy of risk management control functions of payment service regulatees through onsite and offsite supervisory review.
• Perform supervisory assessments in line with the department’s supervisory framework and SOPs.
• Review regulatory reports and data to detect non-compliances and ensure timely remedial actions.
• Conduct macro-level surveillance to identify emerging risks and propose intervention measures.
• Escalate supervisory concerns from supervisory or ad-hoc review and recommend appropriate intervention or resolution actions including enforcement action, where applicable.
• Execute surveillance on unauthorised or illegal money services business and payment service providers in accordance with the department’s framework.
• Conduct intelligence operations to gather evidence to support enforcement actions and elevate identified concerns with recommendations for appropriate supervisory or enforcement actions.
• Review complaints and queries of assigned regulatees and proposed appropriate resolution process.

Processing of Regulatory Applications

• Assess applications from payment service regulatees to ensure compliance with applicable laws and regulations as well as internal SOPs and provide appropriate recommendations to Management in a timely manner.
• Ensure that all assessments are conducted in accordance with established processing SOPs, governance arrangements and client charters.
• Manage stakeholder interactions effectively when processing applications and addressing inquiries.

General

• Continuously develop and strengthen required technical and leadership skills through ongoing self development.
• Maintain strong collaboration with internal and external stakeholders to share information, exchange insights, identify risks, and stay abreast of emerging trends and technologies.
• Monitor operations workflow to ensure efficiency, timely delivery, and adherence to required quality and performance standards.
• Undertake additional tasks as assigned from time to time, including ad hoc and cross-functional assignments, within agreed timelines.

Academic Qualifications

• Degree in Accounting, Finance, Banking, Economics, Law, Business, Information Technology, Computer Science, or equivalent degree.

Experience

• Minimum 2 years of relevant working experience.
• Working experience is an added advantage, in the field of information technology, payment systems, compliance or auditing (including information technology audit), financial sector or risk management.

ONLY SHORTLISTED CANDIDATES WILL BE NOTIFIED