Senior Compliance Officer

Our client is a Singapore-based financial services company applying for a Major Payment Institution (MPI) licence under the Monetary Authority of Singapore (MAS) Payment Services Act 2019. They are seeking to appoint a Compliance Officer who will lead the license application process and establish the compliance function following approval.

The Role

This is a foundational leadership hire. The successful candidate will lead the MPI license application, undergo MAS fit-and-proper assessment as the named Compliance Officer, and build the Singapore compliance function from the ground up. The role will serve as the primary regulatory liaison with MAS and a key advisor to senior management on regulatory and compliance matters.

Key Responsibilities

• Lead the compliance and AML/CFT workstream for the MPI license application from submission through approval, working closely with senior management and external legal counsel.
• Develop and implement the firm's AML/CFT, sanctions and conduct compliance frameworks in accordance with the Payment Services Act, MAS Notices PSN01/PSN02, and related regulatory guidance.
• Act as the named Compliance Officer throughout the MAS fit-and-proper assessment and manage responses to MAS requests for information (RFIs) during the application process and on an ongoing basis.
• Establish and oversee compliance policies, procedures, training programmes, monitoring, and assurance activities, ensuring frameworks are effectively embedded into day-to-day operations.
• Oversee customer due diligence (CDD), enhanced due diligence (EDD), sanctions screening, transaction monitoring, beneficial ownership reviews, politically exposed person (PEP) assessments, and Suspicious Transaction Report (STR) filings where required.
• Advise senior management on regulatory developments, compliance risks, escalations, and matters requiring MAS notification.
• Manage regulatory reporting obligations, including statutory returns, annual declarations, and ad hoc regulatory submissions.
• Recruit, develop, and lead the compliance team as the business expands.

Requirements

Essential

• Extensive hands-on compliance, AML/CFT and sanctions experience within a MAS-regulated payments environment, ideally under the Payment Services Act.
• Comfortable acting as the named Compliance Officer and assuming the associated regulatory accountability.
• Demonstrated experience designing and implementing compliance frameworks within a payment institution or similar MAS-regulated financial institution.
• Singapore-based with the right to work in Singapore and willingness to travel periodically to China.
• Excellent written and verbal English communication skills.
• Good understanding of MAS Technology Risk Management (TRM) Guidelines and operational resilience expectations.

Preferred

• Previous experience as a named Compliance Officer (or equivalent) for an SPI, MPI or other MAS-licensed payments institution.
• Experience in cross-border payments, e-money, card acquiring, payment processing, or e-commerce payment services.
• Experience managing MAS inspections, thematic reviews, or regulatory requests for information.
• Familiarity with MAS anti-scam regulatory expectations.
• Working proficiency in Mandarin to support collaboration with regional stakeholders.

Ideal Candidate

This opportunity is suited to a senior compliance professional who is comfortable taking ownership of regulatory engagement and building a compliance function from the ground up. It is not suitable for junior AML professionals or candidates without direct MAS payments regulatory experience.

Success Measures (First 6–12 Months)

• Successfully lead the compliance workstream of the MPI licence application through MAS review.
• Implement effective AML/CFT, sanctions, and conduct compliance frameworks.
• Deliver timely, high-quality responses to MAS regulatory enquiries.
• Establish robust governance and escalation processes for regulatory events and Suspicious Transaction Reports.

Reporting Line

The role reports to the Board, with functional oversight from the Group Chief Compliance Officer and operational reporting to the Singapore Managing Director. The position maintains an independent reporting line to the Board on regulatory matters in line with MAS governance expectations.