My client are well established within the Payments industry and on an upward curve in terms of growth and ambitions.
Their platforms have evolved into powerful, cost-effective solutions for Bacs and Cards payment transactions.with solutions blended with two industry leading brands with great reputations.
Currently seeking a Compliance Manager, this newly created position will be tasked with creating strategies and policies to make sure that the businesses within the group are compliant with FCA and other relevant regulations, and that everything we do is within the law.
The compliance manager will report to the COO and will act as a direct line to regulatory authorities. On a daily basis, the Compliance Manager will assess the compliance of internal processes against current regulations, maintain reporting and help to advise and train staff.
Because regulations and legislation change all the time, the Compliance Manager will be relied upon to keep on top of best practice and to ensure that the business’ internal policies account for any changes.
* Support the COO and CEO in the development and delivery of a sustainable risk-based compliance programme. Identifying compliance process improvements / weaknesses and presenting solutions where appropriate.
* Act as the Anti-Money Laundering Reporting Officer (MLRO) for the group (currently 2 companies, expected to expand further)
* Inspiring and leading a culture of compliance within the business
* Managing the compliance diary ensuring key business and regulatory timescales are met.
* Undertake monitoring activities and maintain regulatory registers to identify relevant risks, breaches, and issues.
* Carry out Due Diligence by working with supervisors, advisers & external compliance support to ensure robust and compliant advice files, identify any improvements needed and implement required changes.
* Managing all aspects of complaints through to resolution, including detriment calculations, data gathering and complaint research, keeping the register up to date and communications to clients.
* Preparing applications to the FCA, RegData submissions and any other regulatory bodies.
* Implement any identified action points from external compliance audits.
* Develop and lead a plan for the business to achieve ISO 27001 certification.
* Manage the ongoing requirements to ensure continued Bacs Bureau and Facilities Management Accreditation
* Completing ad-hoc compliance projects as required by the COO to assist in the compliance improvement programme or in response to the company growth strategy.
* Deliver high levels of compliance standards and positive client outcomes in everything that we do.
* Keeping knowledge up to date with existing & upcoming regulatory requirements and helping implement change where required.
Developing/writing policies and procedures
Work cross functionally across the business to achieve the objectives of the role
Ensuring the business is up to date on legislation, regulation, and best practice
Advising various departments on how to ensure compliance
Conducting regular compliance checks and internal audits
Ensure that the firm maintains accurate, detailed and up to date compliance records and Management Information across all areas of the business
Train and test employees on internal policies for proof of validation of knowledge
Ensure the firm can respond to requests for information from the Financial Conduct Authority (FCA) and provide the requisite notifications to the FCA
Comply with the relevant Financial Services and Markets Acts, Payment Services Regulations, and the relevant FCA rules
Review or prepare KYC documentation and conduct additional research as required
Review and investigate transaction monitoring flags
Identify, investigate, evaluate and escalate suspicious transactions or trends.
Review and investigate Sanctions List matches
Identify and record “false positive results,” escalating “true match” results and prepare regulatory filings as required
Conduct periodic compliance testing of historical transactions, identifying high risk transactions, or customers, need to file retroactive regulatory filings and potentially modifying risk profile of customer
Periodic review of existing clients & any Financial Crime Audit actions
Collate MI and present to the Board
As needed, review payment files for accuracy and completeness
Conduct Business Wide Risk Assessments
Assist with the identification, evaluation, monitoring and mitigation of operational risks; proactively suggesting improvements
Liaise with senior management in Operations and across the wider group to design and implement effective risk controls and processes
Liaise with Company’s Business development team to investigate suspicious transactions / trends relating to particular customers
Function as a key contributor with demonstrated knowledge of AML/KYC issues, as well as broader functional knowledge in banking and payment operations
Act as the Data Protection Officer for all Jonas FinTech businesses
Co-ordinate internally, prepare for, and take the lead on all required Bacs assessments (such as for Bureau and Facilities Management accreditation)
JOB QUALIFICATIONS & EXPERIENCE:
Compliance managers are required to have an excellent working knowledge of UK Conduct Regulations, skills in AML and KYC and delivering ISO certifications. Compliance managers will ideally have the following qualities:
Good knowledge of the FCA handbook and regulations including, COBS, SYSC, CASS, PERG, COCON
TC (Training and Competency) project management
High level knowledge of the ICO requirements
Suspicious activity reporting
Disaster recovery/business continuity experience
ISO certification knowledge
At least 5 years’ experience within the Compliance domain
Experience conducting transaction monitoring
Experience investigating sanctions hits
Good knowledge of UK Payment Industry/Financial Services Industry a bonus
Experience in Compliance within a regulated environment
Confident implementing Compliance processes
An understanding of risk-based compliance
Comfortable working to strict deadlines and a pressured environment
Deliver on governance and give guidance to senior management
Used to presenting to the executive board
Readiness to build all procedures from scratch
This newly created role is a standalone position offering autonomy, direction and responsibility within a successful, growing business.,
You can work in a fully Remote capacity with occasional travel to company or client meetings
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