Senior Risk Specialist, Operational & Ecosystem Risk

Summary of responsibilities 

• Data Analysis & Reporting – Responsible for collecting and analysing data for monitoring and reporting purposes 
• Ecosystem Risk Monitoring – Responsible for ongoing monitoring activities including developing suitable risk parameters to detect any irregularities 
• Compliance to Regulatory Requirements – Ensure compliance to relevant regulatory requirements 
• Drive Innovation – Drive innovative initiative across PayNet 

Data Analysis & Reporting  

• Analyze large datasets to identify trends, patterns, and anomalies that could indicate potential fraud, operational issues or compliance risks.  
• Develop dashboards and reports that provide actionable insights into fraud detection, risk exposure, and compliance metrics.  
• Establish, review and update fraud parameter/rules in the fraud detection system to ensure timely identification of suspicious activities across all transactional channels.  
• Investigate fraud alerts, collaborating with internal teams and affected Participants (including cross-border counterparties and settlement banks) to ensure thorough follow-up on flagged transactions.  
• Maintain and update merchant fraud database.  
• Ensure all operational incidents particularly in relation to fraud is reported to BNM ORR through KijangNet  
• Assist in preparing risk report for reporting to PayNet’s Group Management Committee (PGMC), Group Risk Committee (GRC), the Board and/or BNM  

Ecosystem Risk Monitoring  

• Perform ongoing monitoring of Participant behavior and cross-border transactions to detect unusual or high-risk activities.  
• Perform ongoing monitoring of Non-Bank Participant (NBP) conduct and adequacy of the risk mitigation controls imposed on the NBP e.g. adequacy of the Bank Guarantee amounts to mitigate prepayment and/or foreign merchant risk  
• Perform ongoing monitoring of the settlement banks’ performance (including but not limited to timely settlement and dispute resolution to the cross-border counterparties) and credit risk exposure.  
• Develop risk parameters for monitoring of participant (including NBP), cross-border settlement banks and cross-border partner switches. The monitoring scope may be expanded from time to time to include other parties in PayNet’s ecosystem including but not limited to Sponsor Institutions, Indirect Participants, Merchants, etc.  
• Conduct regular review of the set risk parameters to ensure relevancy  
• Work closely with Fraud & Project team to implement strategies to reduce fraud exposure.  
• Ensure monitoring processes align with BNM supervisory specification and other relevant regulatory frameworks.  
• Keep abreast of regulatory changes and advise the team on necessary adjustments to maintain compliance.  
• Maintain relevant documentations for audit and inspection.  

Regulatory Compliance   

• Ensure monitoring processes align with BNM supervisory specification and other relevant regulatory frameworks.  
• Keep abreast of regulatory changes and advise the team on necessary adjustments to maintain compliance.  
• Maintain relevant documentations for audit and inspection  

Drive Innovation  

• Acts as an agent of change and stimulates others to change. Paves the way for needed changes; by taking calculated risks to derive maximum benefit  
• Drive initiative to automate monitoring mechanism and provide early escalation to the relevant stakeholders.  
• Perform any other assignments as directed by the supervisor, Head of Risk Management and/or Director or Risk & Compliance  

Minimum Qualifications   

• Degree in Data Science, Statistics, Risk Management, Information Technology or other related discipline  
• More than 3 years relevant experiences in data analysis, fraud monitoring or risk management roles.  

Technical Qualifications  

• Experience in participant monitoring and cross-border transaction analysis is a plus.  
• Proficient in data analysis tools (e.g., Excel, SQL, Python, R, or similar).  
• Experience with data visualization platforms (e.g., Tableau, Power BI).  
• Strong understanding of risk management frameworks and methodologies.  
• Familiarity with fraud detection tools (e.g., Falcon, Shield, or similar solution).  
• Strong understanding of regulatory compliance standards (e.g., AML, KYC, etc.)  
• Experience in participant monitoring and cross-border transaction analysis is a plus   

Additional Requirements  

• Experience  
• Strong analytical thinking and problem-solving skills.  
• Ability to work independently and manage multiple tasks with minimal supervision   
• Excellent communication skills, both written and verbal, with the ability to present findings clearly   
• Must be flexible and be able to participate in multiple projects simultaneously