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

Bpay Limited is a dynamic start-up fintech company, committed to delivering innovative cross-border solutions and payment services in Nigeria and across Africa. We value talent that’s ready to support our growth and help create a productive and positive work environment.

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.