Risk and Compliance Snr Executive is responsible in managing, supervising and monitoring overall Risk Management & Compliance matters related to Cards, eWallets, Merchant Acquiring & Electronic Payment business of the company. The position reports directly to the Chief Operating Officer. There are 2 broad areas that this position is responsible for 1. Risk Management and Fraud Control & Investigations and 2. Compliance.

Risk Management

Manage and control the overall risk for eWallets (Cards) and merchant acquiring business
Ensure that risk management and monitoring tools or systems are in place to mitigate potential fraud and losses Risk and assesses the effectiveness of antifraud programs and controls
Proactively assists in the oversight of a proactive Fraud Risk Management Program using data extraction, data analytics and management reporting.
Solid understanding of fraud risks, and risk management processes in order to identify and monitor fraud risks within the organization.
Effectively communicates emerging and/or changing risk and related control opportunities and enhancements to senior management.
Maintains awareness of key process changes, system changes, organization or governance structure, and key outsourcing arrangements/vendor exposure and how they impact operational risk management.
Develop Antifraud control activities for both preventive and detective controls and seek management approval to implement and execute.
Comprehend, develop, and perform Key Risk Indicators reporting.
Contributes to the development and implementation of Fraud Risk processes, tools, policies, standards, and procedures.
Performing a risk assessment by analyzing current risks and identifying potential risks that are affecting the company.
Oversight and ensure all merchant applications are checked for credit, sanctions and background or blacklist checks
Ensure proper KYC checks and controls is in place to comply with BNM KYC regulations
Ensure proper AML/CFT controls is in place and comply to regulations
Monitor daily transaction behavior and settlement and identify potential fraudulent transactions and follow through with investigation and action plan
Oversees and ensure investigations are done and reported regarding actual and suspected fraud activities, providing oversight and appropriate resolution to the business units.
Prepares in-depth fraud case investigation narratives, which support Suspicious Incident Reporting, Human Resource corrective action etc.

Compliance

Review the old and new policies of internal, CBM, card network associations (Visa, MasterCard, UPI, Paynet (MEPS) and others) to ensure that company is in Compliance with all regulations
Develop and seek management approval for internal policies to meet regulations requirement
Work with other departments to draft policies, SOPs and processes to meet regulatory requirements. Consolidate and update the policies and SOP for management approval accordingly
Ensure all proper documentations and compliance (AML etc.) as required for vendors, merchant signup and process for approvals.
Monitor laws and regulations with possible impact on company business processes
Strong understanding of business needs and ensure compliance to regulatory mandates and requirements
Propose solutions and seek management approval to implement the processes and controls to comply to regulatory requirements with proper SOPs and documentation of each process

Periodic Reporting

Prepares and analyzes internal and external fraud loss data reporting to monitor risk management activities associated with significant losses.
Prepares management reports of all activities, including averted and sustained losses, and recovered monies
Adheres to all regulatory filing and reporting timelines
Submitting CTR/STR report for high and suspicious transactions
Consolidate and submit periodic reports to BNM and Regulators
Consolidate and submit reports for MasterCard Quarterly QMR report submission
Consolidate and submit reports for Visa Quarterly QOC report submission

Other Responsibilities

Evaluate employees’ risk awareness and train them when necessary
Participate in new projects to ensure development and processes meets regulatory requirements
Assist and backup other departments on daily tasks and assignments when needs arise
Assist in any adhoc task that the company may assign from time to time
Oversee and ensure office area, staff and assets safety including company’s reputation risks
Perform the position safely without endangering the health or safety to themselves or others and be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations, and orders issued pursuant to the OSHA Act of 1994, which are applicable to one’s own actions and conduct
Any other risk related matters

GKash Sdn Bhd

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