Money Laundering Reporting Officer (Payment Product Compliance) at Eden Solutions and Resources

Description 

• We are currently sourcing for a suitable candidate to fill in the position ofan MLRO (Money Laundering Reporting Officer) who will support the creativity of their Network product, by providing subject-matter expertise in industry best practices and the global regulatory landscape.
• This person will utilize their knowledge of various payment rules and regulations (peer-to-peer, money transmission, money service business, prepaid access, ACH, card networks, OCTs, etc.), AML compliance and sanction laws to establish regulatory go-to-market strategies and influence expansion for new payments product launches. This person will also project manage and facilitate the product launch process with multiple compliance operational teams and establish applicable compliance metrics for the Payments products.
• This role will report to the Head of Compliance and will play a pivotal role in helping build compliant world-class digital products and features.

What will you do in this role?
You will:

• Support global expansion for new payments product launches by scoping, defining and communicating product and compliance requirements
• Participate in the review and negotiation of partner contracts to ensure consistency with existing processes and systems
• Determine compliance requirements for domestic and international markets
• Advise Payments Product team on Compliance operational process and regulatory requirements across various markets
• Design go-to market strategies that comply with applicable regulatory obligations for all Payments products, initiatives and strategies.
• Determine key data and operational requirements of new product initiatives, including partnering with compliance operations, risk management, legal and customer success teams
• Build a tactical road-map and set goals that align with strategic product roadmap
• Design and draft all relevant program documentation, content, and processes
• Remain up-to-date on regulatory landscape and changes, best practices and industry developments
• Identify applicable metrics, KPIs and KRIs for the leadership review and participate in annual risk assessments and audits
• Communicate product status and initiatives to partners and senior leadership
• Liaise with regulatory authorities on matters relating to data protection, anti-financial crime standards, and information security as applicable.
• Maintain a risk register of all related financial crime risks and design mitigation strategies.
• Oversee regulatory assessments and licensing efforts.
• Collaborate with cross-functional teams as compliance subject matter experts to drive business compliance initiatives, issue resolution and control management.
• Ensure prompt and effective escalation of identified compliance issues to relevant stakeholders and senior management.
• Oversee audit exercises scheduled by regulators such as CBN, NITDA and all relevant regulators in regions where we exist.
• Ensure the required monthly reports are sent to regulators

How Important are you to the Bottom line?

• Your role in this company would help avoid financial fraud, ensure compliance with regulations, and protect company reputation, which would directly impact profitability and sustainability.

Biggest Problem-solving Duty on the Job?

• This will be to detect and prevent fraudulent activities, including money laundering and financial crimes, which can have significant financial and reputational consequences for the company.

Requirements
What should you have done in your career?

• Have 6+ years experience in regulatory compliance management, including AML and Sanctions
• Have 5+ years experience in applicable payments, card networks, and money transmission rules and regulations
• Have Project management experience and proficiency with payment and treasury operations
• Experience in drafting policies and procedures
• Have secure knowledge of PSD2
• Have a Legal background or JD
• Knowledge of Global AML compliance and Banking regulations
• Knowledge of cryptocurrency payments is a is a plus

What you stand to Gain?

• Competitive salary
• Opportunities for career advancement