Analyst Merchant of Record and Regulatory Payment License at Flutterwave

The Role

Flutterwave is seeking a dedicated and knowledgeable Analyst to build our Merchant of Record and Regulatory Payment License Function. This role is crucial in establishing and managing a model where Flutterwave acts as a domiciliation or collections agent for merchants who need to process payments in countries where they are not domiciled. Additionally, the role involves ensuring compliance with local regulations by obtaining necessary payment licenses, aligning with Flutterwave's strategic objectives and regulatory requirements.

Key Responsibilities:

• Merchant of Record Function
  • Design and implement the Merchant of Record model, enabling Flutterwave to offer domiciliation or collection agent services.
  • Develop and maintain processes and systems to support the MoR function, ensuring compliance with local and international regulations.
  • Collaborate with legal, compliance, finance, and operations teams to integrate and optimize the Merchant of Record model.
  • Identify opportunities for improving operational efficiency within the MoR framework and implement solutions to enhance performance.
• Regulatory Payment License Function
  • Apply for necessary regulatory payment licenses in alignment with Flutterwave’s strategic goals.
  • Collaborate closely with legal, regulatory, and compliance teams to validate licensing requirements and ensure all necessary documentation and processes are in place.
  • Maintain a comprehensive understanding of regulatory requirements and changes in the fintech industry across different jurisdictions.
  • Oversee the management of existing licenses, ensuring timely renewals and adherence to all regulatory obligations.
• Relationship Management
  • Build and maintain strong relationships with regulatory bodies and financial institutions to facilitate licensing and compliance processes.
  • Serve as the main point of contact for all matters related to the Merchant of Record and regulatory payment licenses.
  • Engage with internal and external stakeholders to ensure alignment and support for MoR and licensing initiatives.
• Risk Management and Compliance
  • Ensure all Merchant of Record and licensing activities comply with relevant regulations and mitigate potential risks.
  • Develop and implement risk management strategies to address potential compliance and licensing issues.
  • Conduct regular internal audits to ensure ongoing compliance and identify areas for improvement.
• Reporting and Documentation
  • Prepare and present regular reports on the status of Merchant of Record activities and regulatory payment licenses to senior management.
  • Maintain accurate records and documentation of all licensing applications, approvals, and related correspondence.
  • Track and report on key performance metrics related to MoR and regulatory licensing activities.
• Continuous Improvement: Identify opportunities for process improvements and implement best practices to enhance efficiency and effectiveness.
• Training and Development: Provide training and support to team members and other stakeholders on MoR and regulatory licensing processes.
• Industry Networking: Stay engaged with industry networks and forums to keep abreast of regulatory developments and emerging trends.

Requirements:

• Bachelor's degree in Business Administration, Finance, Legal Studies, or a related field. A Master’s degree is preferred.
• Minimum of 2 years of experience in e-commerce, payment processing, or a related field
• Understanding of regulatory requirements related to e-commerce, payment processing, and licensing.
• Proven negotiation skills with the ability to secure favorable terms in licensing agreements.
• Excellent communication and interpersonal skills, with the ability to build and maintain relationships with internal and external stakeholders.
• Analytical mindset with the ability to analyze data, identify trends, and make data-driven decisions.
• Detail-oriented with strong organizational skills and the ability to manage multiple projects simultaneously.
• Proficiency in Microsoft Office suite and experience with contract management software is a plus.
• Strong ethical values and integrity, with a commitment to upholding legal and regulatory standards.