Merchant Onboarding Officer at Unified Payment Services Limited

Job Objectives

To oversee and manage the merchant onboarding process, ensuring all merchants meet Unified Payment Services Limited's risk management standards and regulatory requirements. This includes identifying potential risks, conducting due diligence, and ensuring merchants align with compliance, anti-money laundering (AML), and fraud prevention standards.

Duties and Responsibilities

Merchant Risk Assessment & Due Diligence

• Conduct comprehensive risk assessments for new merchants to evaluate financial stability, operational risks, and compliance with regulatory requirements
• Ensure that the merchant onboarding process is in line with AML and Know Your Customer (KYC) regulations
• Perform background checks and due diligence investigations to assess potential merchant risks
• Review merchant documentation and contracts to ensure they meet regulatory, legal, and company standards

Compliance and Regulatory Management

• Ensure that all merchants comply with internal policies, local regulations, and relevant industry standards
• Work with regulatory authorities and internal stakeholders to ensure the merchant onboarding process adheres to compliance guidelines
• Identify and escalate any compliance risks that may arise during the onboarding process, ensuring prompt resolution
• Maintain up-to-date knowledge of regulatory changes, AML laws, and other compliance requirements affecting merchant onboarding

Risk Management & Mitigation

• Develop and implement risk management protocols specific to merchant onboarding
• Monitor merchant risk profiles throughout the onboarding process, ensuring appropriate mitigation strategies are implemented
• Collaborate with the Enterprise Risk Management team to address any risks identified during merchant onboarding
• Work closely with internal departments (legal, compliance, IT) to ensure a seamless onboarding process with adequate risk controls