Senior Compliance Officer (SA)
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Job Location:
Johannesburg - South Africa
Monthly Salary:
Not Disclosed
Posted on:
17 hours ago
Vacancies:
1 Vacancy
Job Summary
Senior Compliance Officer
Location: South Africa
Company: PalmPay South Africa
Department: Compliance & Risk
About PalmPay:
PalmPay is a leading African fintech platform dedicated to driving financial inclusion and empowering millions of users and merchants across the continent. With operations in multiple African markets PalmPay offers a secure ecosystem of digital payments merchant services credit solutions and financial South Africa PalmPay continues to expand its acquiring and payments operations delivering compliant secure and innovative financial solutions.
Job Summary:
The Senior Compliance Officer will develop implement and oversee the compliance framework for PalmPay South Africas acquiring payments and financial services operations. This role ensures that the business complies with local and international regulations including AML/CFT POPIA SARB directives and card scheme requirements. You will work closely with cross-functional teamsOperations Finance Risk Legal Technology and Group Complianceensuring adherence to regulatory obligations maintaining licensing standards and supporting safe business growth
Key Responsibilities:
1. Licensing & Regulatory Compliance Obtain and maintain required payment/acquiring licenses (TPPP Payment Institution PSP etc.). Liaise with regulatory bodies such as the South African Reserve Bank (SARB) and Financial Intelligence Centre (FIC). Prepare and submit mandatory returns reports and regulatory filings. Monitor regulatory updates and lead implementation of relevant changes. Coordinate audits regulatory inspections and annual compliance renewals.
2. AML / CFT / KYC Framework Develop and maintain AML/CFT policies and procedures aligned with FIC requirements. Oversee merchant KYC/KYB onboarding for legality and risk classification. Set and review high-risk merchant categories (e.g. MCCs with elevated exposure). Establish and strengthen transaction monitoring rules and escalation workflows. Manage sanctions screening PEP checks and watchlist monitoring. File Suspicious Transaction Reports (STRs/SARs) and maintain audit logs.
3. Merchant Compliance Oversight Review merchant onboarding documentation contracts settlement cycles and operational compliance. Ensure adherence to Visa Mastercard and Verve acquiring rules. Lead investigations into non-compliant or fraudulent merchant activity (e.g. fake transactions or sub-merchants). Conduct periodic reviews of high-risk industries (crypto gaming FX digital assets etc.). Provide guidance to the merchant operations team on regulatory obligations.
4. Data & Privacy Compliance Ensure full compliance with POPIA GDPR NDPR and internal data governance standards. Review third-party agreements to ensure appropriate data protection clauses. Oversee data processing cross-border data transfer compliance and data minimization. Establish data breach detection escalation and notification procedures.
5. Settlement & FX Compliance Monitor settlement flows payout cycles and cross-border transactions in accordance with FX regulatory requirements. Validate settlement alignment between funds flow reporting data and merchant activities. Collaborate with Finance and Treasury on tax reporting exchange controls and compliance disclosures.
6. Governance & Reporting Produce recurring compliance reports for Senior Management Group Compliance and the Board. Maintain internal compliance controls and perform routine effectiveness testing. Develop and deliver employee training on AML KYC data privacy and internal compliance standards. Maintain documentation of policies standards risk assessments and audit responses.
Qualifications & Requirements:
Must-Have;
Bachelors degree in Law Finance Business Administration or related field.
58 years of experience in financial services compliance preferably within fintech payments or banking.
Strong knowledge of SARB FIC POPIA and card scheme regulations.
Proven experience with AML/CFT frameworks transaction monitoring and merchant risk management.
Excellent stakeholder managementability to engage with regulators and internal teams. Strong analytical and investigative skills.
Exceptional written and verbal communication skills. Nice-to-Have Compliance certification (e.g. CAMS CISA CRCMP ICA).
Experience in acquiring business merchant operations or PSP environments.
Experience working with cross-border teams in a multinational fintech.
Exposure to fraud risk management and digital payments operations. Competencies
High ethical standards and integrity.
Strong problem-solving skills and ability to work under pressure.
Detail-oriented with excellent judgment.
Ability to lead compliance initiatives independently.
Strong project management and documentation abilities.
What We Offer Opportunity to work within one of Africas fastest-growing fintech ecosystems.
Competitive compensation and benefits.
A collaborative environment with global career growth opportunities.
Chance to shape regulatory and compliance strategy for a rapidly expanding financial services provider
Location: South Africa
Company: PalmPay South Africa
Department: Compliance & Risk
About PalmPay:
PalmPay is a leading African fintech platform dedicated to driving financial inclusion and empowering millions of users and merchants across the continent. With operations in multiple African markets PalmPay offers a secure ecosystem of digital payments merchant services credit solutions and financial South Africa PalmPay continues to expand its acquiring and payments operations delivering compliant secure and innovative financial solutions.
Job Summary:
The Senior Compliance Officer will develop implement and oversee the compliance framework for PalmPay South Africas acquiring payments and financial services operations. This role ensures that the business complies with local and international regulations including AML/CFT POPIA SARB directives and card scheme requirements. You will work closely with cross-functional teamsOperations Finance Risk Legal Technology and Group Complianceensuring adherence to regulatory obligations maintaining licensing standards and supporting safe business growth
Key Responsibilities:
1. Licensing & Regulatory Compliance Obtain and maintain required payment/acquiring licenses (TPPP Payment Institution PSP etc.). Liaise with regulatory bodies such as the South African Reserve Bank (SARB) and Financial Intelligence Centre (FIC). Prepare and submit mandatory returns reports and regulatory filings. Monitor regulatory updates and lead implementation of relevant changes. Coordinate audits regulatory inspections and annual compliance renewals.
2. AML / CFT / KYC Framework Develop and maintain AML/CFT policies and procedures aligned with FIC requirements. Oversee merchant KYC/KYB onboarding for legality and risk classification. Set and review high-risk merchant categories (e.g. MCCs with elevated exposure). Establish and strengthen transaction monitoring rules and escalation workflows. Manage sanctions screening PEP checks and watchlist monitoring. File Suspicious Transaction Reports (STRs/SARs) and maintain audit logs.
3. Merchant Compliance Oversight Review merchant onboarding documentation contracts settlement cycles and operational compliance. Ensure adherence to Visa Mastercard and Verve acquiring rules. Lead investigations into non-compliant or fraudulent merchant activity (e.g. fake transactions or sub-merchants). Conduct periodic reviews of high-risk industries (crypto gaming FX digital assets etc.). Provide guidance to the merchant operations team on regulatory obligations.
4. Data & Privacy Compliance Ensure full compliance with POPIA GDPR NDPR and internal data governance standards. Review third-party agreements to ensure appropriate data protection clauses. Oversee data processing cross-border data transfer compliance and data minimization. Establish data breach detection escalation and notification procedures.
5. Settlement & FX Compliance Monitor settlement flows payout cycles and cross-border transactions in accordance with FX regulatory requirements. Validate settlement alignment between funds flow reporting data and merchant activities. Collaborate with Finance and Treasury on tax reporting exchange controls and compliance disclosures.
6. Governance & Reporting Produce recurring compliance reports for Senior Management Group Compliance and the Board. Maintain internal compliance controls and perform routine effectiveness testing. Develop and deliver employee training on AML KYC data privacy and internal compliance standards. Maintain documentation of policies standards risk assessments and audit responses.
Qualifications & Requirements:
Must-Have;
Bachelors degree in Law Finance Business Administration or related field.
58 years of experience in financial services compliance preferably within fintech payments or banking.
Strong knowledge of SARB FIC POPIA and card scheme regulations.
Proven experience with AML/CFT frameworks transaction monitoring and merchant risk management.
Excellent stakeholder managementability to engage with regulators and internal teams. Strong analytical and investigative skills.
Exceptional written and verbal communication skills. Nice-to-Have Compliance certification (e.g. CAMS CISA CRCMP ICA).
Experience in acquiring business merchant operations or PSP environments.
Experience working with cross-border teams in a multinational fintech.
Exposure to fraud risk management and digital payments operations. Competencies
High ethical standards and integrity.
Strong problem-solving skills and ability to work under pressure.
Detail-oriented with excellent judgment.
Ability to lead compliance initiatives independently.
Strong project management and documentation abilities.
What We Offer Opportunity to work within one of Africas fastest-growing fintech ecosystems.
Competitive compensation and benefits.
A collaborative environment with global career growth opportunities.
Chance to shape regulatory and compliance strategy for a rapidly expanding financial services provider
Required Experience:
Senior IC
Key Skills
- Compliance Management
- Risk Management
- Financial Services
- PCI
- Banking
- Cost Accounting Standards
- Quality Systems
- Research Experience
- NIST Standards
- Securities Law
- SOX
- ISO 27000
About Company
An intuitive digital wallet with account opening, money transfer and bill payments in one. Earn as you spend.
