Merchant Onboarding Specialist

About The Team

As Merchant Onboarding Specialist, you will be responsible to assist and ensure ongoing compliance with regulatory requirements. This role requires a strong understanding of regulatory compliance, risk assessment, and operational efficiency to ensure a seamless onboarding experience while mitigating potential risk.

Job Description

• Collecting and reviewing necessary documentation from merchants, such as business licenses, incorporation documents, financial statements, and ownership information. Ensuring all required KYB documents are accurately completed and up to date.
• Responsible for conducting thorough merchant KYB screening, including name screening, based on the merchant's risk level based on the SOP set.
• Analyzing the risk level associated with each merchant based on factors such as industry type, geographical location, and payment source.
• Perform merchant screening by using business screening tools (such as Experian, NexisLexis ,Google Search).
• Act as a checker in oversee the team's merchant KYB screening processes and ensure alignment between the information stored in the system and the documents provided by merchants.
• Collaborate with the compliance and risk teams to update the merchant KYB screening process in accordance with the latest regulatory requirements.
• Improving and optimizing merchant KYB screening processes to increase efficiency, accuracy, and compliance with regulatory requirements.
• Conduct ongoing due diligence on past merchants in accordance with their risk level.
• Ensure that the merchant KYB screening and onboarding process are completed within the designated SLA timeframe.
• Prepare merchants regulatory reports, including Statsmart Report and RPP Reports.
• To carry out other ad-hoc tasks as specified by the supervisor / leader from time to time.
  
  

Requirements

• 3-5 years experience in merchant KYB screening process, merchant on-boarding process and regulator report relevant to Banking & Finance-wallet.
• Relevant work experience in merchant KYB screening & merchant onboarding, risk management, or regulatory reporting.
• Familiarity with local regulations related (BNM / AML/CFT Policies) to merchant KYB screening and money laundering prevention.
• Experience in handling cases involving the nature of high-risk merchant businesses and PEP hits.
• Strong communication skills, attention to detail, and the ability to work under pressure and tight deadlines.
• Enjoy working efficiently and independently in a fast-paced, high-volume environment.
• Good command in English and fast learner