SVP, Compliance

Network For Electronic Transfers (S); Singapore; On-site; SGD 180,000 - 300,000; Full time

Job summary

Network for Electronic Transfers (S) in Singapore seeks a Compliance lead to oversee the NETS group’s compliance framework across regulated operations. You will design, implement and monitor AML/CTF controls, educate management on regulatory changes, and liaise with regulators to ensure licensing and ongoing compliance for new initiatives.

You will lead a team, establish audit processes, and prepare reports for authorities, working with internal stakeholders and external auditors to manage risk

Qualifications

• At least 10 years of experience in a regulated financial industry.
• Knowledge of AML/CTF regulations and payment industry practices.
• Experience with regulatory filings and license applications.
• Strong problem-solving and prioritization skills.
• Excellent report writing and stakeholder communication.

Responsibilities

• Develop and implement a compliant framework for the NETS group.
• Ensure operations follow relevant laws and internal policies; establish controls and monitoring.
• Lead a team and manage regulatory risk with business units.
• Oversee control systems and continuous improvement of compliance processes.
• Educate employees on regulations and industry practices.
• Evaluate new business initiatives for regulatory impact and license needs.
• Prepare compliance reports for regulators and external auditors.

Skills

Regulatory knowledge

AML/CTF

Policy development

Training & education

Education

Degree in law / finance / business or related

Job description

Select how often (in days) to receive an alert:

Company: Network For Electronic Transfers (S)

The NETS Group is a leading payments services group, enabling digital payments for merchants, consumers and banks across the entire payments value chain.

The Group operates Singapore’s national debit scheme enabling customers of DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and UOB to make payments using their ATM cards or mobile devices at more than 130,000 acceptance points in the country as well as online payments.

As the Compliance lead, you are responsible for overseeing compliance within the NETS group of companies and ensuring compliance with laws, regulatory requirements, policies and procedures which help the organization maintain their legal and ethical integrity.

You will be responsible for designing compliance programs, guiding and educating the management on compliance matters, monitoring developments and updating knowledge on regulatory changes, and applying for relevant licenses in response to new business initiatives.

Key Responsibilities

• Responsible for the compliance framework; develop and implement a consistent approach to the Compliance programs, policies and practices for the NETS group of companies.
• Ensure operations and business transactions of the organization follow relevant legal and internal rules by developing and implementing an effective, efficient and proactive compliance program consisting of auditing processes, documents and practices.
• Lead a team and guide them in working hand in hand with the business units to identify and manage regulatory risk including handling time critical incident reporting to the authority.
• Create and oversee control systems to deal with or prevent violations of legal guidelines and internal policies, evaluate the efficiency of controls and continuously improve them, and revise procedures, reports, etc. regularly to identify hidden risks or reasons for non-conformity.
• Inform and train employees on matters that are associated with regulations and industry practices.
• Evaluate business initiatives and assess compliance risks.
• Work collaboratively with internal stakeholders and external consultants/auditors when needed.
• Prepare appropriate compliance reports with regulatory agencies.

Requirements

• Degree holder in law (preferred), finance, business, accounting or related disciplines with at least 10 years of relevant experience in a regulated financial industry.
• Knowledge of policies, processes, standards, rules and interpretations, guidance and controls and systems related to the financial industry is advantageous, e.g. subject matter expertise in AML/CTF regulations, investigative practices in the payment industry.
• Track record in performing gap analysis and improvement plans, and advising management, Board members of key implications.
• Regulatory filing and execution of compliance assurance programs.
• Experience with successful license applications.
• Excellent problem-solving skills and ability to prioritize and manage multiple tasks.
• An excellent team player with strong interpersonal and communication skills to deal with a broad range of stakeholders.
• Strong in documentation and report writing skills.

Network for Electronic Transfers (Singapore) Pte Ltd.