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Head of Regulatory Compliance at Monavate Limited

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  • Cambridge
  • fulltime

The Job

Head of Regulatory Compliance

What we need

  • Proven track record of compliance roles & team management in the payments sector
  • Strong knowledge in the payments sector, preferrable also in the fintech sector
  • Strong relationship & stakeholder management skills
  • A team player with the ability to ‘go-beyond’ in an organisation with high growth ambitions
  • Ability to work in an agile and fast paced industry and working environment
  • Aspiration to grow with the company

 

Job Requirements General Compliance 

  • Building and maintaining compliance frameworks and policies as required by a licensed Electronic Money Institution. 
  • Conducting and overseeing internal reviews and audits periodically to ensure that compliance procedures/frameworks are followed. 
  • Conducting or directing the internal investigation of compliance issues. Informing, educating, and training employees on matters that are associated with regulations and industry practices.
  • Conducting reviews of changes to relevant regulations and legislations that impact the business and developing a ‘horizon scanning’ process to ensure the business is aware of and ready for changes in the same,
  • Interacting with external auditors on matters related to audits of the organisation's internal controls, and assess potential fraud activity, plus develop fraud detection tools.
  • Creation, review and implementation of policies and procedures Develop, challenge and implement key compliance policies with regards to the issuance of electronic money and other relevant regulations 
  • Collect and analyse risk information from source systems, departments
  • Review and organisation's internal controls, and assess potential fraud activity, plus develop fraud detection tools.
  • Conducting compliance risk assessment training workshops
  • Conducting internal reviews and audits
  • Advising and supporting internal management and Monavate customers on the implementation of compliance programs
  • Developing risk management strategies
  • Evaluating compliance systems and ensuring adequate software is in place
  • Reporting on compliance and delivery of board pack and KPI’s
  • You must have EMI / E-Money Regulatory experience
  • Provide leadership and management to the current and future compliance team to ensure internal and global compliance

 

Job Requirements Regulatory Compliance

  • Provide a robust regulatory environment, maintain regulatory standards and be the point of contact with the FCA, ICO, LOB and other regulatory bodies
  • Scoping and review of PSR, EMR’s 2011, JMLSG, EBA and regional and local regulatory rules and environments 
  • Oversight and build of Compliance monitoring strategy and implementation of the company Risk registers
  • Set-up and chair the internal risk committee regularly reviewing 
  • Scope and review of regulatory permissions
  • Research on product sets and impact analysis in line with regulatory permissions
  • Develop and maintain continuous strong enterprise risk management framework as well as an annual Compliance work plan
  • Prepare and present clear and concise Compliance reports to the executive team and external regulatory bodies as needed
  • Identify emerging risks that present new regulatory, fraud, or operational risks
  • Manage the delivery of regulatory reporting and ensure stakeholders understand what is required
  • Ensure that compliance programs throughout the company are effective and efficient in identifying, preventing, detecting, and correcting noncompliance with applicable laws and regulations, including proper auditing and reporting functions
  • Manage investigations related to breaches or errors within compliance
  • Establish and enforce of the three lines of defence
  • processes and establishing sufficient controls
  • Maintain oversight of compliance across all business operations
  • Assist in the development and monitoring of key risk indicators to determine elevations in risk and proactively implement risk mitigation measures
  • Ensure that the client is compliant with all necessary regulatory bodies and ensure approval is sought when needed for all current and new products and services
  • Regularly audit Company's operations, products, procedures, practices, and documents, including quality assurance, quality control, and periodic reviews of departments to identify possible weaknesses or risks
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