Deputy/ Assistant Director, Payments Department (Contract)

Monetary Authority of Singapore; Singapore; On-site; SGD 90,000 - 130,000; Full time

Job summary

Monetary Authority of Singapore (MAS) invites applications for a two-year contract within the Payments Supervision Division to oversee payment institutions operating under the Payment Services Act. You will engage with industry players on regulatory and legal issues and assess necessary legislative changes.

Ideal candidates possess strong interest in the payments sector, 3–15 years in compliance, audit, legal or financial services advisory, and a proven ability to navigate regulatory drafting

Qualifications

• Strong interest in the payments sector
• 3-15 years’ experience in related areas such as compliance, audit, legal or financial services advisory
• Strong familiarity with legislative review and drafting processes
• Strong written and verbal communication skills, as well as analytical skills to understand new business models
• Adaptable and versatile self-starter who is able to work well in both team and individual settings
• Fast-paced environment with ability to manage multiple priorities and stakeholders

Responsibilities

• Performing on-site and off-site supervision of payment institutions across the full spectrum of regulated payment services including e-money services, money transfer services and digital payment token services
• Reviewing the legislative requirements and policy intent of the Payment Services Act in relation to new business models
• Engaging key industry players to discuss regulatory and legal issues, and assess need for legislative change

Job description

What the role is:

Singapore’s payments industry is evolving rapidly with diverse set of players from remittance agents to digital payment token service providers. In addition, the introduction of the Payment Services Act also presents new opportunities for a vibrant and competitive payment landscape, while addressing new risks and challenges that lie ahead. As new payment services and models are introduced in tandem with developments and innovations in FinTech, you will be at the forefront of ensuring that these payment service providers operate in a way that promotes Singapore as an e-payment society in our drive towards a sound and progressive financial centre.

What you will be working on:

You will be part of a dynamic team within the Payments Supervision Division that supervises payment institutions under the Payment Services Act. Among other things, you will be involved in:

• Performing on-site and off-site supervision of payment institutions across the full spectrum of regulated payment services including e-money services, money transfer services and digital payment token services;

• Reviewing the legislative requirements and policy intent of the Payment Services Act in relation to new business models;

• Engaging key industry players to discuss regulatory and legal issues, and assess need for legislative change

What we are looking for:

• Strong interest in the payments sector

• 3-15 years’ experience in related areas such as compliance, audit, legal or financial services advisory

• Strong familiarity with legislative review and drafting processes

• Strong written and verbal communication skills, as well as analytical skills to understand new business models

• Adaptable and versatile self-starter who is able to work well in both team and individual settings

• You will be working in a fast-paced environment that would require the ability to manage multiple priorities and needs of stakeholders, as well as the agility to respond to changes and developments.

This is a 2-year contract position. As part of the shortlisting process for this role, you may be required to complete a medical declaration and/or undergo further assessment.

About Monetary Authority of Singapore

MAS is the central bank of Singapore. Our mission is to promote sustained non-inflationary economic growth, and a sound and progressive financial centre.