Compliance Operations Specialist

<h2><strong>Compliance Operations Specialist</strong></h2> <h2><strong>About the company</strong></h2> <p>Paystack Microfinance Bank is building banking with care. We’re focused on creating reliable financial infrastructure that helps businesses and individuals manage and grow their money over time.</p> <p>We operate as a separate company, building on nearly a decade of Paystack’s work in digital commerce and expanding beyond payments into credit, yield, treasury management, and embedded banking tools. Our approach is deliberate, long-term, and grounded in trust.</p> <h3><strong>About the role</strong></h3> <p>We’re looking for a Compliance Operations Specialist to help lay the foundation for a bank that businesses and individuals can trust with their money.</p> <p>This role is central to how Paystack Microfinance Bank operates. You’ll help safeguard our banking licence and ensure that our day-to-day operations meet regulatory requirements. Unlike a payments-only compliance role, this position deals directly with deposit-taking, account operations, and banking regulations.</p> <p>You’ll work at the intersection of traditional banking compliance and digital systems. Your responsibility is to ensure that every account opened and every transaction processed meets the standards set by the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC), while still supporting a fast, reliable customer experience.</p> <p>You’ll also work closely with internal teams and merchants, help resolve issues efficiently, and identify opportunities to improve processes and reduce manual work.</p> <p>Location: Lagos, Nigeria<br>Reports to: Head, Legal and Compliance</p> <h3><strong>Key responsibilities</strong></h3> <h4><strong>Account opening and maintenance (KYC / CDD)</strong></h4> <ul> <li>Conduct thorough customer due diligence (CDD) for business account openings.</li> <li>Ensure all accounts comply with CBN tiered KYC requirements.</li> <li>Review and maintain accurate account documentation and mandates.</li> </ul> <h4><strong>Transaction monitoring (banking)</strong></h4> <ul> <li>Monitor inflows and outflows on customer accounts to detect unusual activity, structuring, or misuse of loan facilities.</li> <li>Escalate suspicious activity in line with internal policies and regulatory requirements.</li> </ul> <h4><strong>Sanctions and PEP screening</strong></h4> <ul> <li>Perform screening of customers, senders, and beneficiaries against local and international sanctions lists, including UN, OFAC, and EU lists.</li> <li>Ensure appropriate checks are completed before transactions are cleared.</li> </ul> <h4><strong>Regulatory reporting (MFB-specific)</strong></h4> <ul> <li>Support the preparation and submission of daily, monthly, and quarterly regulatory returns.</li> <li>Assist with reports such as e-FASS filings and NFIU STRs / SARs to the CBN and NDIC.</li> </ul> <h4><strong>Fraud risk and investigations</strong></h4> <ul> <li>Monitor and escalate suspected fraud across customer accounts and banking products.</li> <li>Support investigations and collaborate with Operations and Technology teams to strengthen controls.</li> </ul> <h4><strong>Dispute resolution</strong></h4> <ul> <li>Investigate and resolve merchant and customer disputes relating to lending, cards, and transfers.</li> <li>Ensure disputes are handled within timelines set by the CBN and internal policies.</li> </ul> <h4><strong>Audit and examination readiness</strong></h4> <ul> <li>Maintain accurate, well-organised records to support CBN spot checks and routine examinations.</li> <li>Ensure digital records and processes meet regulatory expectations at all times.</li> </ul> <h4><strong>Product compliance</strong></h4> <ul> <li>Work with Product Managers to assess compliance and risk for new banking features, such as fixed deposits and overdrafts, before launch.</li> <li>Ensure new products comply with BOFIA (Banks and Other Financial Institutions Act) and relevant CBN guidelines.</li> </ul> <h2>Requirements</h2> <ul> <li>Minimum of 3 years’ experience in customer compliance or internal controls within a commercial bank, microfinance bank, or digital bank.</li> <li>Strong working knowledge of BOFIA (2020) and CBN regulations relating to microfinance banks.</li> <li>Solid understanding of payment processing, transaction flows, settlement mechanisms, and dispute resolution.</li> <li>High integrity and the confidence to decline transactions or account openings that may put the bank’s licence at risk, while communicating decisions clearly and respectfully.</li> <li>Strong attention to detail, with an investigative mindset and the ability to follow money flows across systems and partners.</li> <li>Experience leading or supporting customer-facing teams to ensure timely issue resolution and merchant satisfaction.</li> <li>Comfortable working with core banking systems and compliance software. Experience with SQL is a strong advantage.</li> <li>Clear interest in using technology to improve compliance operations and reduce manual processes.</li> <li>Strong communication skills, with the ability to explain complex issues in clear, customer-friendly language.</li> </ul> <h3>Bonus points if you have:</h3> <ul> <li>Familiarity with customer support tools such as Zendesk, Front, or Intercom.</li> <li>Experience using analytics tools such as Metabase, SQL, or Excel.</li> <li>Professional certification (e.g., ACAMS, ICA) is highly desirable.</li> <li>Experience integrating compliance tools to automate routine processes.</li> <li>Experience handling high-value merchant disputes and financial reconciliations.</li> <li>Experience building workflows or automations using tools such as Retool, Zapier, n8n, Replit, or Cursor.</li> </ul> <h2>Benefits</h2> <ul> <li>Competitive salary and compensation package</li> <li>Comprehensive medical cover</li> <li>Fully covered parental leave</li> <li>Smart, kind colleagues who are invested in your growth</li> </ul> <p><em>Paystack Microfinance Bank is an equal opportunity employer. We prohibit discrimination and harassment of any kind and are committed to creating a progressive, inclusive, and open-minded workplace. Our philosophy is simple: hire great people and empower them to do the best work of their lives.</em></p>