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Head of PayNet Rules

2 weeks ago

Kuala Lumpur, Kuala Lumpur, Malaysia PayNet (Payments Network Malaysia) Full time 120,000 - 180,000 per year

Summary Of Responsibilities
The Head of PayNet Rules will play a crucial role in shaping the operational landscape of the payment ecosystems of PayNet, bringing extensive payments and financial services experience and expertise to the development and enhancement of rules and operational frameworks ensuring compliance, transparency, and security while actively engaging with industry participants to assess and address the impact of rule changes collaboratively, while centralizing communication for optimal stakeholder engagement.

Key Areas Of Responsibilities

  • Leadership and Strategic Direction:
  • Provide aspirational leadership to and lead the Rules team, setting strategic goals aligned with PayNet's mission for the development and implementation of participation rules and operational procedures.
  • Develop and execute strategic plans ensuring the evolution, relevance, and effectiveness of participation rules and operational frameworks.
  • Rules and Procedures Oversight:
  • Oversee the formulation, enhancement, and consistent enforcement of participation rules and operational procedures for the products and services of PayNet.
  • Ensure clarity and adherence to regulatory policies, and alignment to payments industry standards, fostering transparency and understanding among participants in the payment ecosystem.
  • Risk Management and Operational Best Practice:
  • Drive initiatives to identify operational risk and procedural gaps.
  • Work with the Risk and Compliance Division to revise the rules and operational framework for robust measures to safeguard the integrity and security of digital payment transactions, ensuring the resilience of the PayNet ecosystem.
  • Collaborate with Paynet Partners to drive initiatives to enhance operational efficiency through operational procedure changes, streamline participants' processes, and optimize overall performance, taking into consideration technological advancements and industry best practices.
  • Regulatory Compliance and Industry Trends:
  • Stay abreast of regulatory developments and industry trends, ensuring that operational rules are not only compliant with regulatory supervisors' policies and expectations as well as payment standards but also adaptive, responding to and being relevant to emerging changes in the payments landscape.
  • Collaborate with the Legal team and Compliance team to uphold legal standards and compliance requirements.
  • Documentation Excellence and Process Efficiency:
  • Lead initiatives to enhance the documentation process, ensuring excellence in document quality, accuracy, transparency, and consistency.
  • Streamline the rules development process to facilitate speed to market for new products and operational requirements. Implement efficient workflows that maintain quality and accuracy while reducing time-to-market for rule changes. Implement agile methodologies to adapt quickly to evolving regulatory and market landscapes that require changes to rules and operational procedures responsive to a dynamic environment.
  • Lead the redesign of the existing participant rules and operational procedures' structure to prioritize the enhancement of the usability of rules documents for both internal teams and external stakeholders.
  • Implement quality assurance processes to validate the accuracy and effectiveness of rules documentation. Establish and maintain rigorous documentation standards.
  • Implement processes for periodic audits to ensure ongoing compliance and identify areas for improvement.
  • Platforms for Industry Collaboration, Rules Syndication, Stakeholders Engagement, Rules Advisory and Centralized Communication:
  • Lead the Rules team to act as a central point for participant engagement, internal and external syndication, managing and centralizing participants' communication through the PayNet Rules.
  • Develop a platform that facilitates discussions, addresses inquiries, and fosters collaborative relationships with participants and stakeholders, including regulators, related industry stakeholders, and merchants. Ensure PayNet has an effective platform for engaging the industry during rule changes. Facilitate forums, workshops, and collaborative sessions to gather input, address concerns, and build consensus among internal and external stakeholders.
  • Develop and implement a centralized communication strategy within the Rules Department, ensuring that participants receive timely and clear information regarding operational changes, rule revisions, and industry updates.
  • Create and manage a framework and process for industry participant syndication. Assess the potential impact of any proposed changes on the industry and its participants, seeking feedback and collaboration to ensure a comprehensive understanding of implications.
  • Set the framework for assessing the impact of rules and operational changes on the industry. Develop methodologies for evaluating potential consequences and benefits, facilitating informed decision-making, and mitigating any adverse effects.
  • Build capabilities for offering advisory support to participants on their inquiries related to the operational requirements, interpretations, and applications of the Rules.
  • Team Management and Development:
  • Provide aspirational leadership to the PayNet Rules Department, fostering a culture of excellence, curiosity towards innovation, and grit for continuous improvement.
  • Mentor and develop team members to enhance their capabilities in rule development, operational procedures, and stakeholder communication upholding the integrity of PayNet rules.

Qualifications

  • Experience in the Payments and Financial Services Industry: 15+ years of payment & financial services experience with 10+ years in senior management. Specialize in payment-related operational management, procedure development, and stakeholder engagement.
  • Management and Operational Skills in Rules Development Function: Proven ability to effectively lead and manage diverse teams in developing rules and operational procedures, while fostering a culture of excellence, innovation, and collaboration.
  • Regulatory and Risk Management Competencies in Rules Framework: Extensive experience in navigating complex regulatory environments and implementing robust risk management practices leveraging on relevant rules and operational procedures.
  • Market and Business Acumen in Rules Domain: Strong understanding of market dynamics and business trends within the payments, banking, and financial services industry specifically on how they are related to rules and operational procedures. Ability to leverage this knowledge to drive rules initiatives that align with the specific needs of the market.
  • Strategic Execution in Implementation: A track record of translating strategic objectives into actionable plans and executing them efficiently. Balance a strategic outlook with strong execution capabilities to achieve operational excellence in rules management.
  • Stakeholder Management: Proven ability to engage and manage relationships with senior management, regulatory bodies, and industry participants, specifically in the context of rules and operational procedures.
  • Leadership Skills: Proven ability to lead and manage a team effectively. Strong leadership qualities with experience in setting and executing the company's strategic visions.
  • Communication Skills: Excellent communication and interpersonal skills with the ability to engage with stakeholders at various levels. Clear and concise communication in both written and verbal forms.
  • Analytical Thinking: Strong analytical and problem-solving skills, with the ability to make informed decisions based on data and industry insights, specifically related to rules development and continuous improvement in operational procedures.
  • Adaptability: Ability to adapt to a dynamic and evolving industry landscape. Proven experience in managing change and navigating complexities within the payments ecosystem.
  • Education: Bachelor's degree in Business, Finance, or a related field. An advanced degree and relevant certifications in payments or financial services would be an advantage.

Reviewed by: Title

Approved by: Chua E Long Title Chief Operations Officer