Business Compliance Officer at PalmPay Limited

PalmPay is an Africa-focused fintech firm, launched in 2019. PalmPay is a mobile payments platform that offers a number of financial services.

We are recruiting to fill the position below:

Job Title: Business Compliance Officer

Location: Opebi, Ikeja, Lagos
Employment Type: Full Time

Job Summary

• We are seeking a diligent and proactive Business Compliance Officer with 2-3 years of experience to join our team.
• The successful candidate will play a key role in ensuring the company operates in full compliance with regulatory requirements and internal policies while supporting business objectives.
• As part of our compliance team, you will be responsible for monitoring activities, conducting risk assessments, and fostering a culture of compliance across the organization.

Key Responsibilities
Regulatory landscape Knowledge:

• Maintain a strong understanding of local and international regulatory frameworks governing the payment services industry.
• Ensure adherence to relevant regulations, including AML/CFT guidelines, data protection laws, and industry standards applicable to payment service providers.
• Monitor changes in the regulatory environment and update internal policies accordingly.

Policy Development and Implementation:

• Assist in drafting, reviewing, and updating compliance policies, procedures, and manuals.
• Ensure effective implementation of compliance programs across departments.

Risk Management:

• Conduct risk assessments on business activities and recommend mitigating measures.
• Support the identification and reporting of compliance-related risks.

Monitoring and Reporting:

• Monitor transactions and business operations for unusual activities, escalating concerns as necessary.
• Prepare and submit compliance reports to management and regulatory authorities as required.

Training and Awareness:

• Conduct training sessions to promote compliance awareness among employees.
• Provide guidance to teams on compliance-related matters.

Collaboration and Support:

• Work closely with business, legal, and technical teams to align compliance goals with business operations.
• Assist in regulatory audits and inspections, ensuring timely resolution of any issues raised.

Incident Management:

• Investigate compliance breaches or incidents and recommend corrective actions.
• Maintain records of incidents and follow up on remedial actions.

Qualifications and Requirements
Educational Background:

• Bachelor’s degree in Law, Business Administration, Finance, or a related field.
• Relevant certifications such as DCP, CAMS, or ICA are an advantage.

Experience:

• 2-3+ years of experience in compliance, regulatory affairs, or risk management, preferably within the banking and payment services or fintech industry.

Skills and Competencies:

• Strong understanding of regulations and payment services compliance requirements.
• Excellent analytical and problem-solving skills.
• Strong communication and interpersonal skills to engage with stakeholders at all levels.
• Attention to detail with the ability to handle confidential information.
• Proficiency in using compliance tools and software for monitoring and reporting.

Other Requirements:

• Demonstrated ability to work independently and as part of a team.
• Knowledge of local and international regulatory frameworks governing payment service providers.
• Commitment to ethical standards and integrity in all actions.

Application Closing Date
Not Specified.