[MAS] Deputy Director / Assistant Director / Associate, Payments Department

MONETARY AUTHORITY OF SINGAPORE
  • Job category
    Public / Civil Service
  • Contract type
    Permanent

Job Description

JOB DESCRIPTION

Singapore’s payments industry is evolving rapidly with diverse set of players from remittance agents to digital payment token service providers. In addition, the introduction of the Payment Services Act also presents new opportunities for a vibrant and competitive payment landscape, while addressing new risks and challenges that lie ahead. As new payment services and models are introduced in tandem with developments and innovations in FinTech, you will be at the forefront of ensuring that these payment service providers operate in a way that promotes Singapore as an e-payment society in our drive towards a sound and progressive financial centre.

You will be part of a dynamic team within the Payments Supervision Division that supervises licensed payment institutions offering a range of digital payment token services, cross-border money transfer services, e-money services, non-bank credit and charge cards services, as well as money-changing services. Among other things, you will be involved in:


• Conducting onsite inspections and offsite reviews to assess compliance with the regulatory framework under the Payment Services Act;
• Assessing licence applications made by existing and prospective payment institutions across the full spectrum of payment services;
• Engaging key industry players to discuss regulatory issues, identify trends and foster sound risk management and compliance;
• Conducting surveillance in the payments domain; and
• Participating in inter-department projects relating to payments.


JOB REQUIREMENTS

  • Strong interest in the payments sector. Good understanding and experience in the digital payment token space and industry will be advantageous.
  • In-depth experience in implementing Anti-Money Laundering and Countering the Financing of Terrorism policy & procedures will be advantageous.
  • Experience in audit, process control or operations of payment institutions will be preferred.
  • Analytical skills to facilitate the understanding of new business models.
  • Strong written and verbal communication skills.
  • High degree of self-motivation and initiative.

 

All applicants will be notified on whether they are shortlisted or not within 4 weeks of the closing date of this job posting.

 
 

Closing on 30 Jun 2021

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