Merchant Onboarding

Modulus Labs Inc.; San Juan; On-site; PHP 360,000 - 600,000; Full time

Benefits offered by this job

Healthcare benefits

Team perks

Travel opportunities

Job summary

Modulus Labs Inc. is seeking a Merchant Onboarding Officer to manage compliant onboarding of new merchant partners.

The role requires strict adherence to KYC/AML standards, thorough documentation review, and coordination with Risk, Compliance, and Operations to ensure activation only after full validation. The position emphasizes audit readiness, secure data handling, and maintaining complete onboarding records.

Qualifications

• Bachelor's degree in Business Administration, Finance, Accounting, or related field
• Basic to high understanding of KYC (Know-Your-Customer) and CDD (Customer Due Diligence) concepts
• Strong attention to detail and ability to review and organize documents accurately
• Good communication and coordination skills for working with internal teams and merchants
• Proficiency in Microsoft Office (Excel, Word) and basic data entry systems
• High level of integrity and ability to handle sensitive and confidential information
• Willingness to learn regulatory requirements set by the Bangko Sentral ng Pilipinas, including onboarding and compliance standards
• Ability to follow structured processes and adhere to policies and procedures
• Professional certifications (e.g., AML/KYC) are an advantage
• Experience in merchant onboarding, payments, fintech, banking, or compliance-related roles.
• Strong working knowledge of KYC/CDD, AML/CTF regulations, and risk assessment frameworks
• Familiarity with BSP regulations, including BSP Circular No. 706 and BSP Circular No. 1049 and other international regulations related to.
• Experience in document verification, sanctions screening, and fraud risk identification
• Ability to assess merchant risk profiles and elevate complex or high-risk cases appropriately
• Strong analytical skills with attention to detail and audit readiness mindset
• Experience working with onboarding systems, CRM tools, or payment platforms
• Good stakeholder management skills, with the ability to coordinate across Risk, Compliance, and Operations teams

Responsibilities

• Onboard new merchant partners in a controlled and compliant manner
• Ensure adherence to KYC, AML/CTF and regulatory standards
• Review and validate onboarding documents for completeness and accuracy
• Maintain audit-ready onboarding records and secure data storage
• Coordinate with Risk, Compliance, and Operations to validate merchant activation
• Identify and escalate high-risk cases for proper authorization

Skills

KYC/CDD

AML/CTF

Onboarding documentation

Regulatory compliance

Stakeholder coordination

Education

Bachelor's degree in Business/Finance/Accounting

Tools

CRM systems

MS Office

Job description

P O S I T I O N O V E R V I E W

Modulus Labs operates as a Payment Facilitator (PayFac) and Operator of Payment Systems engaged in

Merchant Payment Acceptance Activities (OPS-MPAA) under BSP Circular No. 1198. In Singapore, the

company provides merchant acquisition services under MAS's Payment Services Act 2019 (as amended

through 2024). As a Merchant Onboarding Officer, you are responsible for the controlled and compliant

onboarding of new merchant partners, ensuring strict adherence to all internal policies, regulatory

requirements, and due diligence standards. The role involves the systematic collection, verification, and

processing of all required documentation and merchant information, ensuring completeness, accuracy,

and audit readiness prior to account activation.

The Officer must ensure that all onboarding activities align with applicable legal, risk, and compliance

frameworks, including but not limited to KYC, AML, and data governance standards. This role requires

close coordination with Merchant Services, Risk & Compliance, and other relevant internal

stakeholders to ensure that no merchant is activated without full validation and proper authorization.

All onboarding records must be accurately maintained, securely stored, and readily accessible for

internal review or regulatory audit. The Merchant Onboarding Officer is accountable for upholding

procedural integrity, minimizing onboarding risk, and ensuring that merchant activation is conducted

in a controlled, consistent, and fully compliant manner.

R E G U L A T O R Y C O N T E X T

BSP — BSP Circular No. 1049 and BSP Circular No. 706

BSP Circular No. 1049 (Series of 2019) is a regulation issued by the Bangko Sentral ng Pilipinas that

sets out the rules and registration requirements for operators of payment systems (OPS). It

implements key provisions of Republic Act No. 11127 to ensure the safety, efficiency, and reliability of

the Philippine payments landscape. The circular established a formal framework for oversight and

compliance among both bank and non-bank payment service providers.

BSP Circular No. 706 is a major issuance by the Bangko Sentral ng Pilipinas on January 5, 2011 that

updated the Anti-Money Laundering Rules and Regulations (AMLRR). It prescribes detailed Anti-

Money Laundering and Counter-Financing of Terrorism (AML/CFT) standards for banks and other

covered institutions under the Anti-Money Laundering Act of 2001.

It remains a cornerstone of Philippine financial-integrity regulation, later refined by BSP Circular Nos.

950 and 1022 to align with evolving international AML/CFT norms.

K E Y R E S P O N S I B I L I T I E S

The role is responsible for implementing and enforcing robust Know-Your-Customer (KYC) and

Customer Due Diligence (CDD) procedures, ensuring that all merchants are properly identified,

verified, and risk-assessed prior to the establishment of business relationships. This includes the

thorough review and validation of onboarding documents, adherence to Anti-Money Laundering (AML)

and Counter-Terrorism Financing (CTF) standards, and the maintenance of accurate, complete, and

audit-ready records. The Officer works closely with Risk & Compliance and other internal stakeholders

to ensure that no merchant is activated without satisfying all regulatory, legal, and internal control

requirements.

Q U A L I F I C A T I O N S & E X P E R I E N C E

Required

Bachelor’s degree in Business Administration, Finance, Accounting, or related field

Basic to high understanding of KYC (Know-Your-Customer) and CDD (Customer Due Diligence)

concepts

Strong attention to detail and ability to review and organize documents accurately

Good communication and coordination skills for working with internal teams and merchants

Proficiency in Microsoft Office (Excel, Word) and basic data entry systems

High level of integrity and ability to handle sensitive and confidential information

Willingness to learn regulatory requirements set by the Bangko Sentral ng Pilipinas, including

onboarding and compliance standards

Ability to follow structured processes and adhere to policies and procedures

Preferred

Professional certifications (e.g., AML/KYC) are an advantage

Experience in merchant onboarding, payments, fintech, banking, or compliance-related roles.

Strong working knowledge of KYC/CDD, AML/CTF regulations, and risk assessment frameworks

Familiarity with BSP regulations, including BSP Circular No. 706 and BSP Circular No. 1049 and

other international regulations related to.

Experience in document verification, sanctions screening, and fraud risk identification

Ability to assess merchant risk profiles and elevate complex or high-risk cases appropriately

Strong analytical skills with attention to detail and audit readiness mindset

Experience working with onboarding systems, CRM tools, or payment platforms

Good stakeholder management skills, with the ability to coordinate across Risk, Compliance, and

Operations teams

C O R E C O M P E T E N C I E S

Regulatory Compliance & Risk Awareness

Demonstrates strong understanding of KYC/CDD, AML/CTF principles, and regulatory expectations set by the Bangko

Sentral ng Pilipinas

Ability to identify, assess, and elevate potential compliance and fraud risks

Ensures strict adherence to internal policies and external regulations (e.g., BSP Circular No. 706, BSP Circular No. 1049)

Attention to Detail & Accuracy

Reviews documents thoroughly to ensure completeness, consistency, and authenticity

Maintains high accuracy in data entry and record-keeping

Ensures onboarding records are audit-ready at all times

Process Discipline & Control Orientation

Ability to follow structured workflows and standard operating procedures without deviation

Maintains proper documentation, version control, and audit trails

Ensures no onboarding step is skipped prior to merchant activation

Analytical Thinking & Problem Solving

Evaluates merchant profiles and identifies discrepancies or red flags

Applies risk-based thinking in decision-making

Resolves onboarding issues while maintaining compliance standards

Communication & Coordination

Effectively communicates requirements and deficiencies to merchants and internal teams

Works collaboratively with Risk, Compliance, and Operations units

Provides clear and professional documentation and status updates

Integrity & Confidentiality

Handles sensitive merchant and financial information with discretion

Demonstrates ethical behavior and accountability in all onboarding activities

Upholds data privacy and information security standards

Time Management & Productivity

Manages multiple onboarding cases while meeting turnaround times and SLAs

Prioritizes tasks based on urgency and risk level

Maintains efficiency without compromising quality.

Adaptability & Continuous Learning

Keeps updated with evolving regulatory requirements and internal policies

Adapts to new systems, tools, and onboarding procedures

Open to feedback and process improvements

W H A T W E O F F E R

Growth: Work with ambitious engineers solving some of the toughest technology challenges.

Culture: We value freedom with responsibility, context over control, and excellence over process.

Benefits: We take care of our people. From healthcare to team perks—you'll have access to competitive

benefits that support you inside and outside of work. No fluff, just real support where it counts.

Travel: Work takes you places—literally. Whether it's regional deployments, conferences, or global ops,

expect to travel, learn, and lead on the ground where it matters

We look forward to hearing from you!