Compliance & MLRO (Money Laundering Reporting Officer) at Banffpay Limited

Banffpay Limited is a forward-thinking Fintech leader committed to delivering seamless cross-border payment solutions across Africa. We are committed to upholding the highest standards of compliance and regulatory integrity to protect our customers and partners.

We are recruiting to fill the position below:

Job Title: Compliance & MLRO (Money Laundering Reporting Officer)

Location: Lagos
Employment Type: Full-time
Department: Compliance

Job Summary

• We are seeking a detail-oriented and experienced Manager - Compliance & MLRO to lead our compliance efforts, ensuring Banffpay’s adherence to financial industry laws, guidelines, and regulations across Africa.
• The ideal candidate should have a strong background in compliance within the financial services sector, with a preference for experience in cross-border payments and a thorough understanding of African banking industry laws and anti-money laundering (AML) regulations.

Key Responsibilities
Compliance Management:

• Develop, implement, and oversee Banffpay’s compliance program to ensure adherence to regulatory requirements in cross-border payments and financial services.
• Conduct regular compliance assessments, identifying and mitigating risks associated with AML, CFT (Counter Financing of Terrorism), and other regulatory concerns.
• Liaise with regulators, legal advisors, and internal stakeholders to ensure Banffpay remains compliant with evolving regulations across African markets.

AML/CFT Oversight:

• Act as the primary Money Laundering Reporting Officer (MLRO), responsible for managing and monitoring Banffpay’s AML/CFT program.
• Ensure compliance with local and international AML regulations, including monitoring transactions, filing suspicious activity reports (SARs), and maintaining AML policies.
• Oversee KYC (Know Your Customer) and enhanced due diligence processes to identify and mitigate risks.

Cross-Border Compliance and Regulatory Advisory:

• Stay informed about regulatory changes in the financial services industry within Africa, providing strategic guidance on cross-border compliance and regulatory impacts.
• Collaborate with product and operations teams to ensure compliance is integrated into cross-border payment solutions, products, and services.

Policy Development and Implementation:

• Develop, update, and implement compliance policies, procedures, and controls to align with industry best practices.
• Conduct training sessions to educate employees on compliance requirements, including AML and CFT guidelines, ensuring a strong culture of compliance within Banffpay.

Reporting and Risk Management:

• Prepare regular compliance reports for senior management and external regulators, highlighting key risks, incidents, and mitigation measures.
• Implement a risk-based approach to compliance and monitor key risk indicators (KRIs) relevant to Banffpay’s business operations and geographic reach.

Audit and Monitoring:

• Oversee internal and external audits of compliance functions, coordinating with auditors and implementing corrective actions where necessary.
• Continuously review and refine monitoring processes to improve detection of potential regulatory violations or suspicious activities.

Requirements

• Education: Bachelor's degree in Law, Finance, Business, or a related field. A Master’s degree or relevant compliance certification (e.g., CAMS) is a plus.
• Experience: 3-8 years of experience in compliance management, preferably within the financial services industry. Experience in cross-border payments is highly preferred.

Skills:

• In-Depth Knowledge: Solid understanding of banking and financial services regulations in Africa, including AML/CFT laws and guidelines.
• Analytical Skills: Ability to analyze complex regulatory information and implement practical solutions.
• Strong Communication: Excellent written and verbal communication skills for effective reporting and training.
• Attention to Detail: High level of accuracy in compliance monitoring, reporting, and documentation.
• Certifications: CAMS, ICA, or equivalent compliance certifications are preferred.

Preferred Qualifications:

• Demonstrated experience as an MLRO or in a similar AML/CFT oversight role.
• Understanding of cross-border payment processing, digital financial services, and fintech regulatory challenges.
• Familiarity with international AML frameworks, such as FATF guidelines.

Benefits

• Competitive salary with performance-based bonuses.
• Opportunities for career advancement in a rapidly growing fintech company.
• Professional development and ongoing training in compliance best practices.

Application Closing Date
Not Specified.

Method of Application
Interested and qualified candidates should send their Resume and Cover Letter to: [email protected] using the Job Title as the subject of the mail.