PayU is a leading financial services provider in global growth markets. We use our expertise and heritage in cross border and local payments to extend the services we offer to merchants and consumers. Our innovative technology, developed in-house as well as through investments and strategic partnerships, empowers billions of people and millions of merchants to buy and sell online, extending the reach of financial services.
PayU uses its payments heritage and expertise to deliver financial services in emerging markets. Our local operations in Asia, Central and Eastern Europe, Latin America, the Middle East and Africa enable us to be experts in these countries and provide the best solutions for the local market. PayU is the leading online payment service provider in 18 high growth markets, dedicated to creating a fast, simple and efficient payment process for merchants and buyers. Our 250+ payment methods and PCI certified platforms are designed to meet every consumer’s needs.
The markets in which PayU operates represent a potential consumer base of nearly 2.3 billion people and a huge growth potential for merchants. PayU has more than 1,800 payment specialists based in these local markets supporting PayU’s 300,000+ merchants and the millions of consumers making online payments.
Purpose of the role: Legal & Compliance Officer PayU Latam
The primary purposes of the PayU Compliance Department are the following:
- Embedding compliance with laws, regulations, business principles, rules of conduct, customer agreements and established good business practices in every aspect of the organization (e.g. governance, strategy, people, processes, policies, culture, communication);
- Establishing and maintaining effective compliance risk management and control systems, including AML/CTF and Sanctions monitoring and reporting;
- Providing timely advice to the organization on relevant changes in the compliance and regulatory environment;
- Embedding and promoting integrity within the organization and with its employees.
The main function of the Compliance Officer is to safeguard PayU for non-compliance with (Latam) AML/CTF and Sanctions laws and (internal) regulations and protect the company from being used for unlawful activities. The Compliance officer stays abreast of all applicable regulatory regimes and other industry requirements that may have an impact on PayU Latam business. This includes payments industry compliance obligations and best practices throughout the company and PayU’s (banking) partners. The Compliance Officer will report directly to the PayU Latam Compliance Manager. The PayU Latam Compliance team is part of the global PayU Compliance department, which consists of compliance officers located in the other main locations of PayU (a.o. The Netherlands (head office), India, Poland, Turkey) who are tasked with mitigating PayU’s regulatory & compliance risks and raising awareness of regulatory & compliance obligations.
Deliverables / Tasks
- Assess the AML/CTF risks of PayU’s new and existing high risk clients;
- Investigate transactional patterns escalated to compliance and report irregularities indicative of money laundering or terrorist financing;
- Check transactions on potential sanction violations;
- Advise Management and stakeholders on Compliance related risks and requirements;
- Keep track of regulatory and industry AML/CTF standards and requirements;
- Keep relevant PayU AML/CTF and Sanctions policies and procedures up to date;
- Foster a strong compliance culture within the company;
- Actively collaborate with stakeholders like risk operations, sales, payment partnerships, product and global compliance colleagues;
- Train and guide PayU Latam colleagues on Compliance matters;
- Report to the PayU Latam Compliance Manager and other relevant internal stakeholders when high risk compliance issues are identified;
- Other tasks assigned by the PayU Latam Compliance Manager.
- Power of persuasion – Strong stakeholder management skills (internal & external)
- Ability to handle stressful situations and manage competing priorities
- Problem-solving ability
- Critical thinking skills
- Analytical skills and consistent attention to details / accuracy
- Team player, but able to work independently at the same time
- Interpersonal intelligence
- Pro-active and results-oriented
- Reliable and flexible, willing to go the extra mile to get a job done, highly motivated
- Excellent verbal and written communication skills in English and Spanish.
- University degree in compliance, criminology, law, finance or business
- At least 2 years of experience in a similar role in a (global) business environment in the financial services industry
- Preferably CAMS certified
- Strong knowledge of relevant supervision laws in LATAM Spanish Speaking Countries (Brasil would be an advantage) around AML, sanctions, anti-bribery and anti-corruption such as OFAC rules, EU, FATF recommendations etc.
- Risk management experience is a strong plus
- Knowledge of the payment or financial services industries is a strong plus. Knowledge of card scheme rules is preferred
- Project management skills are a strong plus
- Interest in e-Commerce and/or online transfers or transactions.