Head of Compliance

1 month ago

Singapore LIQUID GROUP PTE. LTD. Full time
Roles & Responsibilities

HEAD OF COMPLIANCE


Liquid Group is a Major Payment Institution licensed in Singapore, specialising in cross border payment services for consumers and corporates based across Asia.


It operates XNAP Network, an open API based QR payment acceptance network that enables the cross-border acceptance of bank and non-bank QR payment apps across multiple markets in the region; LiquidNow, a platform that provides corporate payment services and business accounts to local businesses, non-Singapore resident corporates and B2B marketplaces for international fund movements and business payments requirements; and LiquidPay, the go-to e-wallet for global money remittance services and QR payments with the markets best offered exchange rates.


The role will work closely with business, tech, operations, legal, and risk teams to conduct compliance assessments and provide compliance and risk mitigation requirements for new product development, geographical expansion, and changes to existing products. Ensuring compliance with rules, regulations, and standard processes that govern how we conduct business. This applies to how transactions (customer onboarding, trades, and settlements) are handled, how client accounts are maintained and monitored, as well as how the organization operates as a business.


Website:

www.liquidgroup.sg


Governance

  • Updating the AML policy and procedures on a periodic basis establishing standards and implementing procedures to ensure that compliance programs throughout the organization are effective and efficient.
  • Developing the compliance framework for the business, including the application of compliance policies into operating procedures and guidelines; communicating these policies to all relevant business units.
  • Dealing with MAS and any other regulators in relation to license applications.
  • Monitor and assess compliance with laws, regulations, and policies (including the Payment Services Act, possibly Securities & Future Act, Personal Data Protection Act, etc and the similar types of regulation in the S.E.A region)

Risk management

  • Pro-actively identifying and communicating deficiencies or gaps with regulatory compliance; providing guidance in the development of alternative solutions or implementation of corrective action.
  • Developing and conducting compliance risk assessment programs e.g. Anti-Money Laundering (“AML”) risk assessment and Privacy Risk assessment.
  • Managing the risk register with respect to compliance matters.
  • Ensuring AML programs are in line with current industry best practices and both efficient and effective in terms of internal controls.
  • Developing risk rules and definitions for customer screening and transaction monitoring for KYC, AML & CTF.
  • Developing/enhancing policies around the incident and breach management.

Operations

  • Managing the daily operation and monitoring of AML/compliance programs.
  • Developing and maintaining the compliance obligations documentation.
  • Assisting in updating AML policies and procedures according to jurisdictions where the organization currently operates or intends to apply for a license
  • Conduct enhanced due diligence for business partners and clients in line with the AML policies and AML laws and regulations.
  • Assessing Fraud Risk and working closely with the operations team in mitigation of fraud and reviewing cases flagged as suspicious transactions by the organization’s fraud detection tool.
  • Assisting business owners to understand their compliance obligations. Implementing compliance programs for business owners. Discuss ongoing compliance issues and resolve them appropriately.
  • Advising on compliance implications for specific transactions, new products, and businesses.
  • Liaising with compliance teams in other jurisdictions to assist them with CDD and EDD procedures on request to manage the volume.
  • Ensuring system updates when various watch lists are updated; testing systems to ensure updates are successful.
  • Providing necessary advice to the customer support team in handling compliance-related issues with customers.
  • Where necessary, work with the Operations, Legal and Business teams to remediate incidents of non-compliance.
  • Acting as the liaison officer for all internal audits (in relation to compliance), external compliance, and regulatory examinations.

Reporting

  • Transaction reporting: filing annual compliance reports, suspicious transaction reports, and others as needed to regulators (e.g. MSO, HKMA).
  • Regular reporting on key compliance metrics to senior management.

Requirements

  • Minimum 10 years of compliance experience in payments, fintech, banking, or other financial areas.
  • Experience in managing compliance programs for regulated e-payments, e-commerce, or related activities.
  • Basic knowledge of AML/KYC compliance, financial regulatory compliance, compliance testing, fraud detection and mitigation, auditing, and regulatory issues.
  • Excellent verbal and written communication skills.
  • Effective project management, organizational, analytical, and problem resolution skills.
  • Results-oriented and have the ability to work independently and meet deadlines.
  • Excellent relationship management skills, including the ability to interact with individuals at various levels internal and external to the company.
  • Demonstrated ability to function in a fast-paced, ambiguous environment while managing multiple and diverse responsibilities.
  • Proven ability to develop and implement new business plans or change direction in a dynamic environment.
  • Excellent judgment and decision-making skills; ability to analyze and respond to issues.

Tell employers what skills you have

Internal Investigations
Due Diligence
Risk Assessment
Regulatory Compliance
Risk Management
Internal Controls
Compliance
Audits
Fraud
Banking
AML
Team Player
Regulatory Requirements
KYC
Screening
Legal Compliance

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