Axaipay Hiring! Full Time Internal Audit Executive in Federal Territory - Ricebowl

Job Summary

We are looking for an analytical and regulatory-savvy Internal Audit Executive to specialize in our Merchant Acquiring business arm. Your core responsibility will be ensuring our operational, technical, and commercial processes comply strictly with Bank Negara Malaysia (BNM) regulations, specifically the Policy Document on Merchant Acquiring Services and related technology risk guidelines. You will review end-to-end merchant workflows—from onboarding due diligence to settlement—to safeguard our regulatory standing and mitigate financial and operational risks.

Key Responsibilities

• BNM Policy Compliance Auditing: Plan and execute audit programs to verify total alignment with the BNM Merchant Acquiring Services framework, focusing on governance, operational risk management, and capital maintenance rules.
• Merchant Onboarding & KYC Audits: Audit the due diligence, Know-Your-Customer (KYC), and "fit and proper" processes used during merchant recruitment to ensure fraudulent or high-risk entities are systematically blocked.
• Settlement Risk Monitoring: Review settlement cycles to ensure funds are processed and disbursed to merchants accurately, transparently, and strictly within the BNM-recommended timelines (generally two to five working days).
• Technology & Cybersecurity Alignment: Partner with IT auditors to review transaction security, real-time fraud monitoring systems, and adherence to BNM’s newly rolled-out Technology Requirements for Payment Services Regulatees (PSR) framework.
• Fraud Risk & Incident Auditing: Assess the effectiveness of real-time fraud detection mechanism alerts, transactional velocity limits, and how effectively the business reports fraud incidents up to the Board and BNM.
• Outsourcing Review: Audit third-party partnerships (such as independent sales organizations, terminal providers, or external tech vendors) to verify compliance with BNM outsourcing guidelines.
• Audit Reporting & Remediation: Draft precise audit reports highlighting compliance gaps, assign risk ratings, and track management's implementation of remedial actions ahead of external BNM reviews.

Qualifications

• Education: Bachelor’s degree in Accounting, Finance, Business, Law, or Information Systems.
• Experience: 2 to 4 years of experience in Internal Audit, Risk Management, or Compliance—specifically within FinTech, E-Money, Payment Gateways, or Acquiring Banks.
• Regulatory Knowledge (Critical): Strong, practical understanding of Malaysia’s Financial Services Act (FSA) 2013, the BNM Merchant Acquiring Services policy, and local anti-money laundering (AMLA) requirements.
• Technical Skills: Familiarity with merchant payment infrastructure (POS systems, QR code ecosystems, online payment gateways).
• Technical Skills: Basic data analytics skills (SQL, Excel, or Power BI) to track down transaction discrepancies or settlement anomalies.
• Soft Skills: High professional integrity, objective judgment, and the confidence to challenge and guide business operations teams on regulatory protocols.