Head of Risk & Compliance Job Virtual Pay

Legal Jobs. Virtual Pay Jobs

Key Responsibilities

Enterprise Risk Management

• Develop and implement a comprehensive enterprise risk management strategy aligned with Virtual pay’s business objectives, growth plans, and regulatory requirements. 
• Lead the identification, assessment, measurement, monitoring, and reporting of strategic, operational, financial, compliance, technology, and fraud risks. 
• Define risk appetite statements, tolerance thresholds, and escalation protocols. 
• Oversee enterprise-wide risk registers and mitigation action plans. 

Payment Risk Management

• Lead the payment risk management framework covering transaction risk, merchantrisk, chargebacks, settlement exposure, and payment abuse.
• Oversee real-time transaction monitoring controls across cards, wallets, bank transfers, and alternative payment channels.
• Establish merchant onboarding, underwriting, reserve requirements, and continuous
  exposure monitoring standards.
• Monitor chargeback ratios, fraud-to-sales thresholds, authorization decline trends, refund abuse, and scheme compliance indicators.
• Strengthen controls over settlement risk, reconciliation breaks, payment exceptions, and partner bank exposure

Compliance Strategy & Governance

• Develop, implement, and maintain a robust compliance governance framework, including policies, procedures, standards, and internal controls. 
• Ensure compliance with all relevant laws, regulations, licensing obligations, card scheme rules, AML/CTF obligations, consumer protection requirements, and data privacy standards. 
• Provide continuous oversight of policy adherence and control effectiveness across all business units. 

Regulatory Engagement & Reporting

• Serve as the primary liaison with regulators, external auditors, banking partners, and other oversight bodies on risk and compliance matters. 
• Monitor global and local regulatory developments affecting PSPs, fin-techs, and digital financial services. 
• Oversee timely submission of regulatory returns, board reports, audit responses, and statutory filings. 
• Present risk and compliance reports, dashboards, and key findings to senior leadership and the Board. 

Financial Crime, AML & Transaction Monitoring

• Lead the design and implementation of robust AML, CTF, KYC, CDD, EDD, sanctions screening, and transaction monitoring frameworks. 
• Ensure effective detection, investigation, escalation, and reporting of suspicious activities. 
• Oversee fraud risk management controls, card transaction monitoring, and merchant risk reviews. 
• Continuously strengthen controls to mitigate money laundering, fraud, and payment abuse risks. 

Operational Risk, Fraud & Information Security

• Oversee operational risk management, including fraud prevention, cyber risk, business continuity, and third-party risk. 
• Lead the implementation and continuous improvement of the Information Security
• Management System (ISMS) aligned to ISO/IEC 27001 standards. 
• Identify information security risks and implement proportionate controls to mitigate vulnerabilities. 
• Coordinate internal and external audits to maintain compliance and certification requirements. 

Risk Assessment, Assurance & Controls

• Conduct periodic enterprise risk and compliance risk assessments. 
• Lead internal control reviews, compliance testing, and remediation tracking. 
• Ensure closure of audit findings and regulator action points within agreed timelines. 
• Drive continuous improvement of governance, risk, and control processes. 

Leadership, Culture & Cross-Functional Collaboration

• Build, lead, and develop a high-performing Risk & Compliance function. 
• Promote a strong culture of risk awareness, ethical conduct, and compliance accountability across the organization. 
• Partner closely with product, operations, legal, technology, and commercial teams to embed risk and compliance considerations into business initiatives. 
• Support new product development, market expansion, and strategic partnerships through proactive advisory

Qualifications

• Bachelor’s degree in Risk Management, Finance, Law, Business, Accounting, or a related field.
• Professional certifications such as FRM, PRM, CFA, ACAMS, ICA, CCEP, CCO, ISO 27001 Lead Implementer/Auditor, or equivalent are highly desirable.
• Minimum 7–10 years of progressive leadership experience in risk, compliance, AML, fraud, or governance roles within fintech, PSPs, banking, EMIs, or financial services.
• Strong understanding of Kenyan, regional, and global regulatory frameworks governing payment service providers.
• Proven expertise in AML/KYC, fraud risk, transaction monitoring, regulatory reporting, and information security governance.
• Demonstrated success in building scalable second-line risk and compliance frameworks in a high-growth environment.
• Strong leadership, strategic thinking, stakeholder management, and board-level reporting capabilities.
• High integrity, sound judgment, and exceptional analytical skills.

How to Apply

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