KEY RESPONSIBILITIES:

• Regulatory Horizon Scanning: Monitor and analyze daily regulatory updates, central bank circulars, and financial sector directives affecting digital payments, consumer protection, and cybersecurity.
• AML/CFT & Transaction Monitoring Oversight: Oversee daily high-risk transaction alerts, suspicious transaction reports (STRs), and sanction screening escalations related to digital wallet and merchant acquiring accounts.
• Product & Feature Compliance Reviews: Conduct mandatory compliance sign-offs for new digital financial product features, system change requests, tier limit adjustments, and marketing campaigns.
• Partner & Merchant Due Diligence (KYC/KYB): Review and approve complex Know Your Customer (KYC), Know Your Business (KYB), and Know Your Partner (KYP) onboarding applications for high-risk corporate merchants, aggregators, and fintechs.
• Regulatory Query & Incident Reporting: Serve as the daily point of contact for regulatory inquiries, data requests, consumer grievance escalations, and mandatory incident notifications to financial regulators.
• Develop, implement, and periodically update compliance policies, operational manuals, and internal control frameworks governing mobile money, digital lending, agency banking, and instant payments.
• Lead regulatory license applications, sandbox submissions, and product approval filings with central banks, telecommunications authorities, and data protection commissions.
• Coordinate regulatory examinations, compliance audits, and regulatory inspection visits, ensuring zero critical non-compliance findings.
• Ensure end-to-end alignment of DFS operations with relevant Data Protection and Privacy Acts (e.g., data minimization, consent management, cross-border data transfer rules).
• Oversee consumer protection standards across digital channels, ensuring transparency in fee disclosures, terms & conditions, and prompt resolution of digital customer disputes.
• Design and deliver mandatory role-based AML/CFT, Sanctions, and Data Privacy training for DFS product, operations, sales, and customer care teams.
• Prepare regular compliance risk dashboards, key risk indicator (KRI) reports, and board compliance packs for senior leadership and risk committees.

DAILY RESPONSIBILITIES:

• Review & Approve Digital Feature Releases Vet new digital banking features, API workflows, and app updates to ensure full compliance with central bank regulations, data privacy laws, and electronic payment guidelines.
• Monitor Real-Time KYC, AML & Sanctions Controls Audit automated digital onboarding flows, e-KYC verification rates, and transaction monitoring rules to prevent money laundering and fraud on digital channels.
• Assess & Onboard Fintech & Vendor Partners Conduct regulatory and operational risk due diligence on third-party fintech partners, payment aggregators, and integration contracts.
• Investigate Digital Compliance Exceptions & Escalations Investigate suspicious digital transaction flags, data privacy incidents, or system compliance failures and execute corrective action plans.
• Track Regulatory Changes & Update Policies Monitor central bank, open-banking, and cybersecurity regulatory updates to continuously align internal digital banking policies and standard operating procedures

CHALLENGES:

• Friction Between Rapid Product Innovation and Strict Regulations, Agile product teams push for fast, friction-free customer onboarding and quick feature deployments, creating constant tension with the compliance requirement for rigorous e-KYC, AML checks, and audit trails.
• Managing Evolving Reg Tech and Banking Regulations Central banks frequently issue updated frameworks around banking, AI/algorithmic bias, dynamic privacy laws (like GDPR/local data protection acts), and instant payments making it difficult to keep internal digital policies synchronized without disrupting operations.
• Third-Party Fintech & BaaS Vendor Risks Extending digital services requires integrating third-party APIs, payment gateways, and fintech partners. Ensuring these external vendors maintain the bank’s strict data privacy, cybersecurity, and regulatory standards create significant oversight risk.

• Regulatory Horizon Scanning: Monitor and analyze daily regulatory updates, central bank circulars, and financial sector directives affecting digital payments, consumer protection, and cybersecurity.
• AML/CFT & Transaction Monitoring Oversight: Oversee daily high-risk transaction alerts, suspicious transaction reports (STRs), and sanction screening escalations related to digital wallet and merchant acquiring accounts.
• Product & Feature Compliance Reviews: Conduct mandatory compliance sign-offs for new digital financial product features, system change requests, tier limit adjustments, and marketing campaigns.
• Partner & Merchant Due Diligence (KYC/KYB): Review and approve complex Know Your Customer (KYC), Know Your Business (KYB), and Know Your Partner (KYP) onboarding applications for high-risk corporate merchants, aggregators, and fintechs.
• Regulatory Query & Incident Reporting: Serve as the daily point of contact for regulatory inquiries, data requests, consumer grievance escalations, and mandatory incident notifications to financial regulators.
• Develop, implement, and periodically update compliance policies, operational manuals, and internal control frameworks governing mobile money, digital lending, agency banking, and instant payments.
• Lead regulatory license applications, sandbox submissions, and product approval filings with central banks, telecommunications authorities, and data protection commissions.
• Coordinate regulatory examinations, compliance audits, and regulatory inspection visits, ensuring zero critical non-compliance findings.
• Ensure end-to-end alignment of DFS operations with relevant Data Protection and Privacy Acts (e.g., data minimization, consent management, cross-border data transfer rules).
• Oversee consumer protection standards across digital channels, ensuring transparency in fee disclosures, terms & conditions, and prompt resolution of digital customer disputes.
• Design and deliver mandatory role-based AML/CFT, Sanctions, and Data Privacy training for DFS product, operations, sales, and customer care teams.
• Prepare regular compliance risk dashboards, key risk indicator (KRI) reports, and board compliance packs for senior leadership and risk committees.
• Review & Approve Digital Feature Releases Vet new digital banking features, API workflows, and app updates to ensure full compliance with central bank regulations, data privacy laws, and electronic payment guidelines.
• Monitor Real-Time KYC, AML & Sanctions Controls Audit automated digital onboarding flows, e-KYC verification rates, and transaction monitoring rules to prevent money laundering and fraud on digital channels.
• Assess & Onboard Fintech & Vendor Partners Conduct regulatory and operational risk due diligence on third-party fintech partners, payment aggregators, and integration contracts.
• Investigate Digital Compliance Exceptions & Escalations Investigate suspicious digital transaction flags, data privacy incidents, or system compliance failures and execute corrective action plans.
• Track Regulatory Changes & Update Policies Monitor central bank, open-banking, and cybersecurity regulatory updates to continuously align internal digital banking policies and standard operating procedures

• Regulatory Horizon Scanning
• AML/CFT
• Transaction Monitoring
• KYC/KYB/KYP
• Regulatory Query & Incident Reporting
• Compliance Policies Development
• Regulatory License Applications
• Compliance Audits
• Data Protection and Privacy Acts
• Consumer Protection Standards
• AML/CFT Training
• Sanctions Training
• Data Privacy Training
• Risk Dashboards
• Key Risk Indicator (KRI) Reports
• Digital Feature Releases Review
• Real-Time KYC/AML/Sanctions Controls Monitoring
• Fintech & Vendor Due Diligence
• Digital Compliance Exception Investigation
• Regulatory Change Tracking
• Policy Updates

• Experience in monitoring regulatory updates
• Experience in overseeing transaction monitoring and suspicious activity reporting
• Experience in conducting compliance reviews for new products/features
• Experience in due diligence for onboarding partners/merchants
• Experience in handling regulatory inquiries and incident reporting
• Experience in developing and updating compliance policies
• Experience in leading regulatory license applications and filings
• Experience in coordinating regulatory examinations and audits
• Knowledge of Data Protection and Privacy Acts
• Understanding of consumer protection standards
• Experience in designing and delivering training
• Experience in preparing compliance risk reports
• Familiarity with digital banking features, API workflows, and app updates
• Knowledge of KYC, AML, and Sanctions controls
• Experience in assessing regulatory and operational risk for third-party partners
• Ability to investigate compliance exceptions and escalations
• Ability to track regulatory changes and update policies