DFS Compliance Manager

1. KEY RESPONSIBILITIES: 

• Regulatory Horizon Scanning: Monitor and analyze daily regulatory updates, central bank circulars, and financial sector directives affecting digital payments, consumer protection, and cybersecurity.

• AML/CFT & Transaction Monitoring Oversight: Oversee daily high-risk transaction alerts, suspicious transaction reports (STRs), and sanction screening escalations related to digital wallet and merchant acquiring accounts.

• Product & Feature Compliance Reviews: Conduct mandatory compliance sign-offs for new digital financial product features, system change requests, tier limit adjustments, and marketing campaigns.

• Partner & Merchant Due Diligence (KYC/KYB): Review and approve complex Know Your Customer (KYC), Know Your Business (KYB), and Know Your Partner (KYP) onboarding applications for high-risk corporate merchants, aggregators, and fintechs.

• Regulatory Query & Incident Reporting: Serve as the daily point of contact for regulatory inquiries, data requests, consumer grievance escalations, and mandatory incident notifications to financial regulators.

• Develop, implement, and periodically update compliance policies, operational manuals, and internal control frameworks governing mobile money, digital lending, agency banking, and instant payments.

• Lead regulatory license applications, sandbox submissions, and product approval filings with central banks, telecommunications authorities, and data protection commissions.

• Coordinate regulatory examinations, compliance audits, and regulatory inspection visits, ensuring zero critical non-compliance findings.

• Ensure end-to-end alignment of DFS operations with relevant Data Protection and Privacy Acts (e.g., data minimization, consent management, cross-border data transfer rules).

• Oversee consumer protection standards across digital channels, ensuring transparency in fee disclosures, terms & conditions, and prompt resolution of digital customer disputes.

• Design and deliver mandatory role-based AML/CFT, Sanctions, and Data Privacy training for DFS product, operations, sales, and customer care teams.

• Prepare regular compliance risk dashboards, key risk indicator (KRI) reports, and board compliance packs for senior leadership and risk committees.

1. DAILY RESPONSIBILITIES: 

• Review & Approve Digital Feature Releases Vet new digital banking features, API workflows, and app updates to ensure full compliance with central bank regulations, data privacy laws, and electronic payment guidelines.   

• Monitor Real-Time KYC, AML & Sanctions Controls   Audit automated digital onboarding flows, e-KYC verification rates, and transaction monitoring rules to prevent money laundering and fraud on digital channels.

• Assess & Onboard Fintech & Vendor Partners Conduct regulatory and operational risk due diligence on third-party fintech partners, payment aggregators, and integration contracts. 

• Investigate Digital Compliance Exceptions & Escalations Investigate suspicious digital transaction flags, data privacy incidents, or system compliance failures and execute corrective action plans.   

• Track Regulatory Changes & Update Policies Monitor central bank, open-banking, and cybersecurity regulatory updates to continuously align internal digital banking policies and standard operating procedures

1. CHALLENGES: 

• Friction Between Rapid Product Innovation and Strict Regulations, Agile product teams push for fast, friction-free customer onboarding and quick feature deployments, creating constant tension with the compliance requirement for rigorous e-KYC, AML checks, and audit trails.   

• Managing Evolving Reg Tech and Banking Regulations Central banks frequently issue updated frameworks around banking, AI/algorithmic bias, dynamic privacy laws (like GDPR/local data protection acts), and instant payments making it difficult to keep internal digital policies synchronized without disrupting operations.   

• Third-Party Fintech & BaaS Vendor Risks Extending digital services requires integrating third-party APIs, payment gateways, and fintech partners. Ensuring these external vendors maintain the bank’s strict data privacy, cybersecurity, and regulatory standards create significant oversight risk.

MINIMUM POSITION QUALIFICATION REQUIREMENTS

1. Academic & Professional

Particulars

Detail

Specific Field or Qualification

Need Type[1]

Education 

Bachelor’s degree

RQ

Professional Qualifications

• Certified Anti-Money Laundering Specialist
• Certified AML FinTech Compliance Associate
• Certified Regulatory Compliance Manager

RQ

1. Experience

Total Minimum No of Years Experience Required

5

Detail

Minimum No of Years

Need Type[2]

Banking & Financial services  

3

DE

2

ES