Head of Risk & Compliance

About Doit

We are focused on reinventing how people spend, save, invest, exchange, travel, and more. Our objective is to build tools that will help people get more from their money and and become an expert at ease. We believe AI will help make finance smart, accessible and safe.

We are looking for the most talented and driven people we can find. We are looking for people who work for their passion, not counting hours. Who loves building great next-generation products, not status quo. Who cares about redefining how everyone around us can get the best financial applications, not for an exclusive few. We have teams working around the world, with over 20 nationalities and growing from our offices and remotely. Join us and build a better future for our society.

In 2019, we built the first mobile-first, insurance platform, enabling insurance to be accessible online by millions in the region. Today, it's the leading insurance platform in Southeast Asia.

The Role

BJAK builds technology products used across Southeast Asia. Doit App Sdn. Bhd. is the group’s digital wallet business in Malaysia, preparing to apply to Bank Negara Malaysia for approval to issue electronic money.

The Head of Risk & Compliance owns risk and compliance for Doit App end to end, from the licence application through to running the control function once the approval is granted. The first year is the application itself, so this is a build role rather than a maintenance one.

The role covers compliance, risk management, AML/CFT/CPF as the designated Compliance Officer at management level, and data protection as Doit App’s data protection officer.

You will report to the Board of Doit App Sdn. Bhd., with administrative reporting lines to Doit App’s Chief Executive and to BJAK’s Head of Risk & Compliance.

What You'll Own

• Owning the risk and compliance content of the application to Bank Negara Malaysia, and the engagement with the Bank from pre-application through to approval.

• Building and running the compliance framework, which is the monitoring plan, the registers, and the breach and corrective action process.

• Building the risk management framework, the risk appetite statement and the risk register, and reporting material risks to the Board.

• Safeguarding of customer funds, including keeping the electronic money float separate from the company’s own money and operating the trust account.

• The anti-money laundering programme as a reporting institution, covering risk assessment, customer due diligence, screening, suspicious transaction reporting, record keeping and training.

• Oversight of the white label partner and other outsourcing arrangements, making sure what each party is responsible for is written down and evidenced rather than assumed.

• Owning conflicts of interest, anti-bribery and corruption, whistleblowing, complaints, and personal data protection.

• Owning regulatory reporting and notifications to the Bank within their deadlines, and the compliance and risk reporting that goes to the Board.

• Reviewing onboarding flows, product additions, disclosures and marketing before they ship, and running compliance training across the team.

What We're Looking For

• A degree or professional qualification from an institution recognised by the government of Malaysia.

• 5+ years of relevant experience in financial services, including 3 in a compliance, regulatory or risk role at an institution regulated by Bank Negara Malaysia.

• Experience across both risk management and compliance. This is a combined function and not a specialist seat.

• Command of the Financial Services Act 2013, BNM’s policy document on Electronic Money, and BNM’s AML/CFT/CPF requirements and AMLA 2001.

• Familiarity with BNM’s requirements on technology risk, outsourcing, electronic know your customer, complaints handling and fair treatment of financial consumers.

• Experience dealing directly with Bank Negara on submissions, supervisory queries and compliance reviews.

• Able to meet the relevant fit and proper criteria.

Nice to have

• Experience taking an electronic money or money services business application through Bank Negara Malaysia to approval.

• CAMS, the ICA Diploma in Governance, Risk and Compliance, or an equivalent risk or compliance qualification.

• Experience in payments, electronic money, digital banking or fintech, including white label or multi-partner models.

• Familiarity with Shariah compliant electronic money and the Islamic Financial Services Act 2013.

Location

This is a hybrid role. You are expected to work from our local office at least 3 days per week, with the remaining days offering flexibility to work remotely.

Candidates should be based in, or able to work from, the location where the role is advertised.

Language

English is our main working language across global teams. Strong English communication is required.

Interview Process

Our process is designed to move fast:

1. Introductory conversation

2. Regulatory and compliance deep dive

3. CEO / final round

For strong candidates, we aim to complete the process and make an offer within 1 week from the start of the interview process. Candidates who complete assessments quickly will be prioritized.