Head of Compliance & MLRO (SMF16/17) - Fast Growing Digital Bank
We are looking for an experienced and talented Head of Compliance / MLRO who is excited to join the world of Fintech in Financial Services and understands the markets of SMEs. Come and join an exciting Ethical Fintech that will allow you to grow within the organisation and write your own future.
- Liaise with all relevant business and support departments within the Company.
- Take ownership of the EMI regulatory process and subsequent supervision
- Ownership and management of all policies and procedure, with periodic review and updates
- Monitor the adequacy and effectiveness of the Company's measures and procedures.
- Approve changes to the Company's documentation relating to compliance issues.
- Act as the first point of contact with the NCA, upon commencement and during an investigation as a result of filing a report to the NCA.
- Train and educate the staff of the Company in respect of the compliance function and requirements in accordance with the Law and Directives.
- Design the internal practice, measures, procedures and controls relevant to the prevention of Money Laundering and Terrorist Financing and describe and allocate the appropriateness and limits of responsibility of each department involved.
- Maintain a Risk Management and Procedures Manual regarding Money Laundering, SARS and Terrorist Financing (AML Manual).
- Apply monitoring mechanisms to assess the level of compliance of the departments and Company employees.
- Give guidance for corrective measures where necessary and inform the SMT and BoD if needed.
- Detect, record, and evaluate, at least on an annual basis, all risks arising from existing and new clients and merchants, new products and services and updates and amend the systems and procedures applied by the Company.
- Prepare and apply for a staff training program.
- Business ownership of the Onboarding, KYC and Transaction monitoring platforms from an AML/Compliance/Risk perspective.
- Building, and taking accountability for, the AML/CTF risk management program and the undertaking of any AML/CTF risk assessment.
- Ensure any flags raised on the transaction monitoring and KYC platforms, along with customer complaints, fraud claims, etc are handled in a timely manner.
- Good management skills of the CBS platform, KYC platform, Transaction Monitoring platform and any other platforms the company may require using to operate effectively.
- 10+ years experience in a relevant compliance role
- Strong reputation with FCA as this person will become SMF16/17 (prefer previous approved SMF)
- Broad expertise and experience in a solo (or small team) role in compliance/control/governance in an FCA regulated business; compliance consultancy; or FCA or equivalent regulator
- Anticipated, developed, and implemented response to new regulations
- Designed and embedded an effective Compliance risk management framework/monitoring strategy
- Established key processes and controls
- Understanding of financial services and wider regulations, particularly conduct, SMCR, systems and controls, treating customers fairly, reporting, GDPR etc. ESG a plus
- Extensive exposure to governance structures, and familiarity with presenting at the Board level
- Exposure to pensions/life products, or retail investments is a plus, but not essential
- Audit and oversight of third-party service provider controls
- Conducted rules mapping exercises