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Money Laundering Compliance Officer job at TerraPay | Apply Now

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Kampala, Uganda



March 6, 2024 at 2:00:00 AM

About the Organisation

Our global account powers payments with seamless pay-ins and payouts in multiple currencies. Businesses can deposit funds and issue payouts using various modes.

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Job Title

Money Laundering Compliance Officer job at TerraPay

Job Description

Who are we?
TerraPay simplifies the movement of money everywhere – providing a single connection to the most expansive cross-border payments network enabling payments to 120+ receive countries, 210+ send countries, 7.5Bn+ bank accounts and 2.1Bn+ mobile wallets. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent, and fully compliant. TerraPay pushes the boundaries for global businesses – ranging from banks, FinTech’s and money-transfer operators to travel businesses, creator economy platforms and e-commerce marketplaces – while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is headquartered in London, with global offices in Dubai, Miami, Bogota, Dakar, Joburg, Nairobi, Milan, Singapore, Bengaluru (Bangalore) and is expanding rapidly, having received funding from leading investors, including the IFC (the World Bank), Prime Ventures, Partech Africa, and Visa.

What do we stand for?
At TerraPay, we stand for innovation, efficiency, and the relentless pursuit of excellence in the payments industry. Our commitment is to deliver seamless financial interactions, enhance global connectivity, and drive transformative changes in the way people and businesses exchange funds. We place a strong emphasis on trust, security, and collaboration, ensuring that our clients and partners experience world-class financial services with unmatched integrity.

Why TerraPay?
Joining TerraPay means becoming a part of a progressive team that's shaping the future of payments. We offer a collaborative environment that values diversity, fosters growth, and encourages innovation. As MLCO, you'll play a pivotal role in enabling seamless financial interactions worldwide. Elevate your career and be a catalyst for global financial transformation with TerraPay.

Duties and Responsibilities

  • TerraPay Global/Group Compliance is responsible for ensuring compliance with anti-money laundering (“AML”) and counter-financing of terrorism (“CFT”) regulations for global operations. Additionally, Compliance oversees key processes of the global Compliance Program, Regulatory and Procedural requirements.

  • TerraPay requires a Money Laundering Control Officer in Uganda to lead and implement AML/CFT/CPF/Anti-fraud and compliance measures. Individual to be responsible for developing, implementing, and enforcing the policies and procedures designed to minimize potential regulatory risks (including money laundering risks).

  • This includes overseeing compliance operations activities and being aware of any suspicious activity in the business that might be linked to money laundering or terrorist financing, and where necessary, to report such transactions, blocked property or rejected transactions per the prescribed channels.

  • The incumbent will be tasked with proposing corrective action measures to mitigate any risks identified throughout the execution of Compliance tasks as well as update of the relevant risk matrix.

  • The MLCO will be responsible for providing AML/CFT compliance-related advisory support to TerraPay business units and coordinating with senior management as required.

Additional Responsibilities:

In addition to your primary responsibilities, you'll have the opportunity to:

  • Execution of the compliance company strategies by contributing information, analysis, and recommendations and translate these into deliverables.

  • Regularly reviewing the effectiveness of the compliance controls.

  • Recommending and implementing improvements following such reviews.

  • Conducting money laundering risk assessments.

  • Record keeping.

  • •raining staff in preventing money laundering.

  • Oversight of relevant staff and partner screening (for these purposes “relevant staff” are persons involved in the identification of risk, controls, and procedures to reduce risk and to ensure our compliance with the Regulations).

  • Receiving reports of suspicious activity from any employee in the business.

  • Considering all reports and evaluating whether there is - or seems to be - any evidence of money laundering or terrorist financing.

  • Reporting any suspicious activity or transaction to the FIA by completing and submitting a Suspicious Activity Report/Suspicious Transaction Report.

  • Work closely with the Compliance, Technology and Operations teams on issues related to AML controls including tuning, analytics, and data governance.

  • Execution of enhancements of processes and procedures with a commitment to consistency and successful implementation within the set targets and deadlines.

  • Manage and work with the internal technical team closely to ensure processes and procedures meet with regulatory standards.

  • Conduct testing of technology modifications from a user perspective and sign-off on system changes as needed.

  • Develop and prepare key metrics for daily and monthly oversight and reporting to senior management.

  • Conducting new and ongoing due diligence, monitoring and risk assessments of our accounts and partners in accordance with the Risk Based Approach.

  • Responsible for updating and maintaining all related TerraPay Due Diligence, Sanction Screening and Monitoring & Reporting Program document management.

  • Build and maintain good relations with the relevant regulators, other authorities, and partners, working alongside the management team in proactively managing these relationships.

  • Manage the regional specific regulatory reporting to ensure that all entities’ regulatory filing and oversight responsibilities are met, Ensure TerraPay’s sanctions screening is in line with UN, OFAC, EU and all other applicable sanctions laws and regulations, and supervising tuning associated with upgrade and enhancements that may be required.

  • Manage multiple Compliance specific projects and meet timely deadlines.

  • Assist with coordination of materials for internal and external AML/CFT-related regulatory examinations.

  • Be proactive and drive thought by undertaking ongoing training and contributing during meetings and huddles.

  • Build on the existing Sanction Screening and Monitoring & Reporting Program and escalate any potential risks identified in a timely manner.

Become a CPA

Qualifications and Competencies

  • Applicants should have 6 to 10 years of experience in similar roles.

  • A mandatory academic qualification of a graduate degree, desirable - Compliance/ audit/ forensic investigations

  • Good understanding of global AML/CFT standards in general and particularly the rules, regulations, and compliance practices in Uganda.

  • Prior Compliance experience including working knowledge and experience with AML/CFT/ Sanctions /Fraud regulations, risks, and typologies.

  • Knowledge of global payments ecosystem. Working knowledge of e-money, payments, and regulations applicable to mobile and internet-based payment systems and related regulations and requirements preferred.

  • Ability to work collaboratively and effectively within a complex organization, across multiple cultures, geographies, and disciplines.

  • Ability to work closely with technology teams, clearly explaining regulatory needs to system developers and technicians.

  • Ability to balance multiple, changing priorities in a dynamic and fast- moving working environment.


  • A competitive compensation package, including performance bonuses.

  • Join a global team with members from 45+ different nationalities spread across 5 continents.

  • Enjoy 3 weeks of annual leave in addition to bank holidays in Uganda.

Enroll for CPA Uganda Course

How to Apply

Are you interested? Click the "APPLY" button below to submit your application.



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