Senior Manager Rules Enforcement & Governance

KEY AREA OF RESPONSIBILITIES

Rules Compliance Monitoring 

• Manage the Rules monitoring scope and processes for all PayNet services to ensure that they are aligned with regulatory compliance requirements, the key non-compliance (General and Specific) in the Rules, to ensure a well-managed operational process, following security policies, upholding of related standards, and adhering to regulations, and supervisory expectations as provided for in the Rules of PayNet by the participants 
• Regularly evaluate and update compliance monitoring methods to adapt to regulatory changes and emerging industry risks. 

Oversight of Monitoring Processes and Scope 

• Define and oversee the scope and processes for monitoring participant compliance with PayNet rules, ensuring alignment with regulatory standards and effective risk management. 
• Drive continuous improvement in monitoring practices, leveraging technology to streamline processes and enhance data accuracy and visibility. 

Stakeholder Management and Industry Collaboration 

• Lead engagement efforts with internal and external stakeholders, including participants, regulatory bodies, and cross-functional PayNet teams, to build collaborative relationships and ensure cohesive compliance practices. 
• Represent the department in industry forums and regulatory meetings, providing insights on compliance trends and risk management strategies. 

Enforcement and Escalation of Non-Compliance 

• Establish and manage robust enforcement processes to address instances of non-compliance, including escalation procedures, participant engagement, and remediation planning. 
• Ensure that enforcement actions are documented, communicated effectively, and aligned with regulatory and organizational requirements. 

Resource Management and Team Leadership 

• Lead, coach, and develop the Rules Enforcement and Governance team, ensuring alignment with department goals and fostering a culture of accountability, collaboration, and continuous improvement. 
• Allocate resources and manage workloads within the team to optimize productivity and ensure timely completion of monitoring and reporting activities. 

Risk and Quality Assurance Management 

• Oversee the identification, review, and validation of compliance-related risks associated with regulatory mandates, participants, and PayNet services. 
• Implement quality assurance mechanisms to ensure all monitoring activities meet defined standards and accurately reflect compliance levels. 

Continuous Improvement of Compliance Monitoring Methods 

• Evaluate and improve rules monitoring methodologies, using data-driven insights and industry best practices to enhance the robustness of compliance tracking. 
• Champion the adoption of automation and digital tools to streamline monitoring and reporting, reduce manual tasks, and minimize human error. 

Timely Reporting and Communication of Compliance Findings 

• Ensure that compliance findings are reported promptly and accurately to senior management, regulatory authorities, and other relevant stakeholders. 
• Drive the development of structured, actionable compliance reports, providing clarity on non-compliance issues and recommended corrective actions. 
• Ensure Rules compliance monitoring requirements remain relevant and effective at all times.   

People Management 

• Lead team to ensure continuous improvement in the monitoring process for effective monitoring and productive output.  
• Provide leadership, direction or support for subordinates both direct and indirect based on their commitment and competency to ensure rules monitoring activities are performed accordingly   
• Ensures that the breadth and depth of talent in the Rule monitoring team is improved continuously by fostering professional growth of others, training, coaching/ mentoring and giving fair performance feedback 
• Drive professional conduct and high-performance culture throughout the team 

Department Processes and Cross-Division Procedures 

• Develop and maintain relevant processes and procedures to collaborate effectively with stakeholders on areas related to rules development, rules creation/ update governance clearances, rules monitoring, rules communication and rules advisory  
• Ensure alignment with stakeholders and internal customers and guide them on the processes and requirements  
• Monitor stakeholders' requests to ensure effective resolution of issues or completion of tasks 

Department RCSA  

• Understands and applies controls effectively to manage key risks and provides suggestions to improve the controls, wherever possible in ensuring the confidentiality, integrity and availability of the information 
• Track, report and complete assessments based on the company’s process 
• Promptly escalate risks and incidents to the HOD/senior management in accordance with existing procedures 
• Comply to relevant regulations, guidelines and procedures 
• Proactively and visibly sponsors efforts to inculcate risk and compliance culture within the team 

QUALIFICATIONS

• Experience: 10+ years of experience in compliance, governance, or risk management within the financial services, payment, or regulatory sector, with at least 5 years in a leadership role.  
• Deep knowledge of compliance frameworks, regulatory requirements, and enforcement practices within a highly regulated environment where experience application in the payment industry will be preferred.  
• Strong stakeholder management skills, with a track record of building effective relationships with regulators and industry partners. 
• Process & Automation: Proven experience in process improvement, automation, and change management.