Senior KYC and Onboarding Specialist

The digital payments landscape is rapidly evolving, and at the forefront of this transformation in South Africa is Ozow, a leading fintech company dedicated to making transactions accessible, secure, and efficient. To maintain its commitment to compliance and robust risk management, Ozow is seeking an experienced Senior KYC and Onboarding Specialist to join its dynamic team in Cape Town. This role is integral to ensuring that both new and existing merchants are onboarded smoothly while adhering to stringent regulatory mandates and mitigating potential financial risks within Ozow's fast-paced operations.

About the Role

As a Senior KYC and Onboarding Specialist, you will be entrusted with a significant degree of ownership over the crucial merchant onboarding journey. This involves not only overseeing the entire process from application to activation but also ensuring every step is executed with precision, accuracy, and full compliance. Your expertise will be particularly vital in navigating the complexities of higher-risk and more intricate onboarding scenarios, where nuanced understanding of documentation and risk assessment is paramount. Beyond managing your own caseload, you will serve as a mentor and a source of guidance for more junior members of the KYC and Onboarding team, fostering a culture of diligence and expertise within the department.

The responsibilities of this senior position are multifaceted, covering the full spectrum of customer due diligence and risk assessment within the fintech payment environment. Your primary duties will include:

• **Overseeing Merchant Onboarding:** You will manage the end-to-end onboarding process for new merchants, verifying that all documentation is complete and accurate, and that the process aligns with all relevant regulatory frameworks.
• **Handling Complex Cases:** You will take the lead on onboarding applications that present greater complexity or higher financial value, providing expert guidance on intricate documentation requirements and unusual risk profiles.
• **Conducting In-depth KYC Reviews:** A core function will be performing thorough Know Your Customer (KYC) reviews for both customers and merchants, with a specific focus on those identified as higher risk or presenting more complex profiles.
• **Document Analysis and Anomaly Detection:** You will meticulously analyse various forms of documentation provided by clients, including identification, financial records, and details of their business structures, flagging any discrepancies or potential red flags for further investigation.
• **Enhanced Due Diligence:** You will be responsible for assessing high-risk customers and merchants, implementing and conducting enhanced due diligence procedures to gain a comprehensive understanding of their risk profile.
• **Risk Assessment and Rating:** You will perform detailed risk assessments for merchants, assigning appropriate risk ratings based on your findings and analysis.
• **Regulatory Compliance:** Staying abreast of evolving financial regulations, anti-money laundering (AML) directives, and industry best practices will be a continuous requirement to ensure Ozow’s compliance remains current and effective.
• **Activity Monitoring:** You will play a role in monitoring and investigating any unusual or suspicious activity identified within customer accounts, contributing to the overall security and integrity of Ozow's platform.
• **Team Guidance:** Providing essential coaching and expert guidance to junior KYC and Onboarding Specialists, assisting them in developing their skills and decision-making capabilities.
• **Reporting:** Compiling detailed and analytical reports summarising KYC findings and risk assessments for the Compliance leadership team, to inform strategic decisions.
• **Client Communication:** Effectively communicating with customers and merchants on complex KYC-related matters, ensuring clarity and providing necessary support.
• **System Utilisation:** Leveraging specialised KYC tools and databases for efficient verification processes, ongoing monitoring, and effective case tracking.

What They're Looking For

To excel in this role, candidates will need a blend of academic qualifications, extensive practical experience, and strong analytical and interpersonal skills. Ozow is looking for individuals who possess:

• A tertiary qualification in a relevant field such as Law, Finance, Business, or a related discipline, providing a strong foundational understanding of commercial and regulatory environments.
• A minimum of four years of hands-on experience specifically within KYC and AML compliance, preferably within the fintech, banking, or broader financial services sectors in South Africa.
• A solid understanding of the regulatory requirements pertinent to card acquiring and payment processing operations, recognising the unique demands of this industry.
• A comprehensive knowledge of local and international KYC and AML regulations, coupled with an awareness of current industry best practices in risk management and compliance.
• Proficiency in utilising various KYC software platforms and databases, demonstrating an ability to navigate and extract insights from these systems efficiently.
• Exceptional analytical and investigative skills, underpinned by a keen eye for detail and the ability to identify subtle patterns or potential risks.
• Strong communication and interpersonal skills, enabling clear and effective interaction with both internal teams and external clients, particularly when discussing sensitive compliance matters.

In South Africa, a Senior KYC and Onboarding Specialist role within the fintech or financial services industry typically commands a competitive salary, often ranging from R400,000 to R600,000 per annum, depending on experience and the specific company's remuneration structure. Ozow, as a prominent player in the local fintech scene, offers a position that provides opportunities for professional growth and the chance to contribute to a company shaping the future of digital payments in the region. Such roles are crucial for any organisation dealing with financial transactions, making them a stable and valuable career path within the South African economy.

• A qualification in law, finance, business, or a related field.
• Minimum of 4 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 sharp attention to detail.
• Strong communication and interpersonal skills.