Company: Ozow
Industry: Banking / Financial Services
Deadline: Not specified
Job Type: Full Time
Qualification: Bachelors
Experience: 1 – 2 years
Location: Western Cape
City: Cape Town
Field: Customer Care
Job Title: Junior Onboarding Compliance Analyst
- As a Junior Onboarding Compliance Analyst at Ozow, you will play a crucial role in ensuring a seamless onboarding experience for our merchants, compliance with regulatory requirements, and mitigating financial risks associated with our fast-paced fintech payments operations. You will be responsible for conducting in-depth customer and merchant due diligence, verifying customer identities, and monitoring ongoing merchant relationships to maintain the integrity of our platform. This role requires a keen eye for detail, strong analytical skills, and the ability to work in a dynamic and rapidly evolving industry.
Responsibilities:
Onboarding:
- Manage the end-to-end onboarding process for new merchants, ensuring all necessary documentation and information are collected and verified.
Customer Due Diligence (CDD):
- Conduct comprehensive KYC reviews of new customers and merchants to verify their identities and assess the level of risk they pose to the company.
- Review and analyze customer and merchant-provided documentation, including identification, financial records, and business documentation.
Enhanced Due Diligence (EDD):
- Identify high-risk customers and merchants and perform enhanced due diligence in accordance with regulatory guidelines across Ozow’s various products.
- Investigate and document the source of funds and purpose of transactions for high-value or suspicious activities.
Regulatory Compliance:
- Stay up-to-date with evolving regulations and ensure that Ozow’s KYC procedures are in compliance with relevant laws and guidelines.
- Assist in developing and implementing KYC policies, procedures, and training programs for employees.
Ongoing Monitoring:
- Continuously monitor customer behaviour and profiles to detect and report any suspicious or unusual activity.
- Conduct reviews and updates of customer and merchant information to ensure accuracy and compliance.
Risk Assessment:
- Assess and assign risk ratings to merchants based on their profiles and activities.
- Report any significant risks or potential breaches to the Compliance team and management.
Reporting:
- Prepare and submit reports to the Head of Legal and management broadly as required.
- Collaborate with internal teams to provide insights and data related to KYC activities.
Customer and Merchant Communication:
- Communicate with customers and merchants to request additional information or clarification when necessary.
- Timeously handle customer inquiries related to KYC processes and compliance.
Technology Utilization:
- Utilize KYC software tools and databases to facilitate efficient customer verification and monitoring.
Requirements:
- A bachelor’s degree in law, finance, business, or a related field.
- Minimum of 1 to 2 years of experience in KYC/AML compliance in the fintech, banking, or financial services industry.
- Knowledge of regulatory requirements specific to card acquiring and payment processing.
- Strong understanding of KYC/AML regulations and industry best practices.
- Proficiency in using KYC software and databases.
- Excellent analytical and investigative skills with a sharp attention to detail.
- Strong communication and interpersonal skills to interact effectively with customers, merchants and internal teams.
- Ability to work in a fast-paced and dynamic environment, adapting to changing priorities and requirements.
- Commitment to maintaining the highest standards of integrity and confidentiality.
