Job Responsibilities
Manage the Rules monitoring scope and processes for all PayNet services to ensure alignment with regulatory compliance requirements, addressing key non-compliance issues, and adhering to security policies and related standards.
Regularly evaluate and update compliance monitoring methods to adapt to regulatory changes and emerging industry risks.
Oversight of Monitoring Processes and Scope
Define and oversee the scope and processes for monitoring participant compliance with PayNet rules, ensuring alignment with regulatory standards and effective risk management.
Drive continuous improvement in monitoring practices, leveraging technology to streamline processes and enhance data accuracy and visibility.
Stakeholder Management and Industry Collaboration
Lead engagement efforts with internal and external stakeholders, including participants, regulatory bodies, and cross-functional PayNet teams, to build collaborative relationships and ensure cohesive compliance practices.
Represent the department in industry forums and regulatory meetings, providing insights on compliance trends and risk management strategies.
Enforcement and Escalation of Non-Compliance
Establish and manage robust enforcement processes to address instances of non-compliance, including escalation procedures, participant engagement, and remediation planning.
Ensure that enforcement actions are documented, communicated effectively, and aligned with regulatory and organizational requirements.
Resource Management and Team Leadership
Lead, coach, and develop the Rules Enforcement and Governance team, ensuring alignment with department goals and fostering a culture of accountability, collaboration, and continuous improvement.
Allocate resources and manage workloads within the team to optimize productivity and ensure timely completion of monitoring and reporting activities.
Risk and Quality Assurance Management
Oversee the identification, review, and validation of compliance-related risks associated with regulatory mandates, participants, and PayNet services.
Implement quality assurance mechanisms to ensure all monitoring activities meet defined standards and accurately reflect compliance levels.
Continuous Improvement of Compliance Monitoring Methods
Evaluate and improve rules monitoring methodologies, using data-driven insights and industry best practices to enhance the robustness of compliance tracking.
Champion the adoption of automation and digital tools to streamline monitoring and reporting, reduce manual tasks, and minimize human error.
Timely Reporting and Communication of Compliance Findings
Ensure that compliance findings are reported promptly and accurately to senior management, regulatory authorities, and other relevant stakeholders.
Drive the development of structured, actionable compliance reports, providing clarity on non-compliance issues and recommended corrective actions.
Ensure Rules compliance monitoring requirements remain relevant and effective at all times.
People Management
Lead team to ensure continuous improvement in the monitoring process for effective monitoring and productive output.
Provide leadership, direction or support for subordinates based on their commitment and competency to ensure rules monitoring activities are performed accordingly.
Drive professional conduct and high-performance culture throughout the team.
Department Processes and Cross-Division Procedures
Develop and maintain relevant processes to collaborate effectively with stakeholders on areas related to rules development, monitoring, and communication.
Monitor stakeholders' requests to ensure effective resolution of issues or completion of tasks.
Department RCSA
Understand and apply controls effectively to manage key risks and provide suggestions to improve the controls.
Track, report and complete assessments based on the company's process.
Promptly escalate risks and incidents to the HOD/senior management in accordance with existing procedures.
Qualifications
Experience: 10+ years in compliance, governance, or risk management within the financial services, payment, or regulatory sector, with at least 5 years in a leadership role.
Deep knowledge of compliance frameworks, regulatory requirements, and enforcement practices within a highly regulated environment.
Strong stakeholder management skills, with a track record of building effective relationships with regulators and industry partners.
Proven experience in process improvement, automation, and change management.
Project Management Skills: Proven expertise in project management, with a track record of successfully leading teams to deliver projects on time and within scope.
Collaboration and Communication Skills: Strong communication and collaboration skills, with the ability to work effectively with cross-functional teams.
Detail-oriented: Meticulous attention to detail to ensure accuracy in all documentation and communications.
PayNet Product and Operational Knowledge: Sound understanding of PayNet's products and services.
Analytical Thinking: Strong analytical and problem-solving skills, with a detail-oriented approach to compliance and monitoring.
Adaptability: Ability to adapt to a dynamic industry landscape and implement effective communication strategies.
CORE COMPETENCIES
Aspirational
Proactively seek alignment in one's role towards the organization's purposes.
Takes ownership of the outcomes beyond the job tasks.
Curious
Takes opportunities to continually learn & develop oneself.
Pursues new solutions to improve existing processes.
Grit
View challenging situations as an opportunity to create a positive outcome.
Adapt approaches when faced with challenges.
Integrity
Maintains required ethical & professional conduct.
Open & transparent in sharing relevant information.
LEADERSHIP COMPETENCIES
Demonstrates Strategic Thinking & Action
Develops foresight, anticipates transformational change and identifies opportunities.
Aligns organizational efforts and inspires action towards common purpose.
Embark on an exciting career journey with Payments Network Malaysia Sdn Bhd (PayNet), the heartbeat of Malaysia's financial markets!
Join us in embracing digital payments and advancing Malaysia's financial landscape.#J-18808-Ljbffr