Remittance Processing

OCBC Malaysia; Penang; On-site; MYR 120,000 - 180,000; Full time

Benefits offered by this job

Competitive base salary

Flexible benefits package

Community initiatives

Learning & development opportunities

Wellbeing & growth

Job summary

OCBC Malaysia is seeking an experienced Payments Processing & Remittance Operations Manager to oversee end-to-end remittance activities, ensure accuracy, timeliness, and compliance with AML and regulatory requirements.

The role focuses on coordinating with finance, IT, and customer service teams, managing SLAs, and driving process improvements through automation. A Bachelor’s degree and 3–4 years in payment processing are required, with at least 1 year in a supervisory role.

Qualifications

• Bachelor’s degree in Banking & finance, Business Administration, or related field.
• 3–4 years in payment processing/remittance operations, with at least 1 year in a supervisory role.
• Strong knowledge of payment systems and regulatory requirements.
• Proven experience in SLA management and process improvements.

Responsibilities

• Process and authorize domestic and international remittance transactions accurately and timely.
• Oversee end-to-end remittance processing activities.
• Ensure payments comply with policies and regulatory requirements.
• Monitor internal controls and AML policies; resolve exceptions.
• Collaborate with finance, compliance, IT, and customer service teams.
• Coordinate with vendors and payment gateways; present performance updates to senior management.
• Oversee system monitoring and escalation of critical issues.
• Coordinate with internal/external audits related to remittance processing.

Skills

Remittance operations

Payment processing

Regulatory compliance

SLA management

Stakeholder management

Analytical thinking

MS Office

Payments software

Education

Bachelor’s degree in Banking & Finance or related field

Tools

MS Office Suite

Payments processing software

Job description

WHO WE ARE: As Singapore’s longest established bank, we have been dedicated to enabling individuals and businesses to achieve their aspirations since 1932. How? By taking the time to truly understand people. From there, we provide support, services, solutions, and career paths that meet their individual needs and desires. Today, we’re on a journey of transformation. Leveraging technology and creativity to become a future-ready learning organisation. But for all that change, our strategic ambition is consistently clear and bold, which is to be Asia’s leading financial services partner for a sustainable future. We invite you to build the bank of the future. Innovate the way we deliver financial services. Work in friendly, supportive teams. Build lasting value in your community. Help people grow their assets, business, and investments. Take your learning as far as you can. Or simply enjoy a vibrant, future-ready career. Your Opportunity Starts Here.

Payment Processing & Authorization: Process and authorize both domestic, international remittance transactions (Telegraphic Transfer/ Velocity/Internet Banking) accurately and within stipulated timelines. Oversee end-to-end remittance processing activities ensuring accuracy and timeliness. Ensure payments are processed in accordance with company policies and regulatory requirements. Conduct verification and reconciliation of payment records to ensure accuracy and completeness Maintain up-to-date knowledge of payment systems and industry best practices Compliance & Exception Handling: Monitor compliance with internal controls, regulatory guidelines, and industry standards. Identify, investigate, and resolve exceptions and discrepancies in payment transactions. Collaborate with compliance teams to implement corrective actions and mitigate risks. Ensure all remittance transactions comply with regulatory requirements, anti-money laundering (AML) policies, and internal controls (eg: signature verification & call back requirement) Stakeholder Management & Collaboration: Build and maintain strong relationships with internal stakeholders including finance, compliance, IT, and customer service teams. Collaborate with external partners such as payment gateways, and vendors to ensure smooth remittance operations. Communicate effectively with senior leadership on operational status, challenges, and improvement plans. SLA Management: Monitor and ensure adherence to established SLAs for remittance processing and related services. Prepare and present regular performance reports to senior management. Identify bottlenecks and implement strategies to improve SLA compliance. Customer Service & Issue Resolution: Act as a point of escalation for complex customer issues related to remittance processing. Collaborate with customer service teams to ensure timely and effective resolution of payment-related queries. Maintain strong relationships with internal and external stakeholders. Document and track issues to ensure timely resolution and follow-up. System Monitoring & Escalation: Oversee system monitoring activities to ensure uninterrupted remittance processing operations. Coordinate with IT and vendor teams to address system issues and outages promptly. Escalate critical system failures or risks to senior management as needed. Process Improvement: Continuously review and analyze remittance processing workflows to identify opportunities for efficiency gains. Identify bottlenecks and recommend automation or workflow enhancements. Promote a culture of innovation and accountability within the team. Audit Coordination: Prepare documentation and evidence for internal and external audits related to remittance processing. Address audit findings and implement recommendations in a timely manner.

Qualifications Bachelor’s degree in Banking & finance, Business Administration, or a related field. Minimum 3-4 years of experience in payment processing, remittance operations, or financial services, with at least 1 years in a managerial role. Strong knowledge of payment systems, remittance workflows, and regulatory compliance requirements. Proven experience managing SLAs and driving process improvements. Excellent analytical, problem-solving, and decision-making skills. Proficient in payment processing software and MS Office applications. Exceptional communication and stakeholder management skills. Ability to work under pressure and manage multiple priorities simultaneously.

What we offer: Competitive base salary. A suite of holistic, flexible benefits to suit every lifestyle. Community initiatives. Industry-leading learning and professional development opportunities. Your wellbeing, growth and aspirations are every bit as cared for as the needs of our customers. Let’s build the bank we need for the future we want. Find the best version of yourself in a friendly, supportive team. Build lasting value in your community. Help people grow their assets, business, and investments. Take your learning as far as you can. Or simply enjoy a vibrant, future-ready career. Your Opportunity Starts Here.

As the longest established Singapore bank, formed in 1932 from the merger of three local banks, we have grown from strength to strength to become a regional financial services group. With a deep history in Asia, we offer the most comprehensive coverage across ASEAN and Greater China, complemented with a presence in the leading economies of New York, London and Sydney. We are the second largest financial services group in Southeast Asia by assets with one of the world’s highest credit rating (Aa1 by Moody’s and AA- by both Fitch and S&P). We offer private banking services through our wholly-owned subsidiary, Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals. Our insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia.