Fintech start-up based in the UK with offices in Europe. Payment services to corporate clients only.
Head of Compliance
General Description and Responsibilities
The Head of Compliance will be primarily responsible for overseeing compliance within the Company and ensuring compliance with laws, regulatory requirements, policies and procedures.
As the compliance leader and subject matter expert, the Head of Compliance will be responsible for establishing standards and implementing procedures to ensure that the compliance programs throughout the Company are effective and efficient in identifying, preventing, detecting, and correcting noncompliance with applicable laws and regulations.
The Head of Compliance has to provide reasonable assurance to the Board that there are effective and efficient policies and procedures in place, well understood and respected by all employees, and that the company is complying with all regulatory requirements.
The Head of Compliance will report directly to the Chief Financial Officer and must inform the Board about important issues and material violations.
Head of Compliance’s specific responsibilities:
Will be the Money Laundering Reporting Officer for the Company and the responsibilities associated with that role; specifically:ensuring that, when appropriate, the information or other matter leading to knowledge or suspicion, or reasonable grounds for knowledge or suspicion of money laundering is properly disclosed to the relevant authority;liaising with appropriate law enforcement agencies on the issue of whether t proceed with a transaction or what information may be disclosed to clients or third partiesresponsible for the design and implementation of internal anti-money laundering systems and proceduresTraining with regards to Anti-Money Laundering and Financial Crime
Other Head of Compliance responsibilities include:
Defining the necessary level of knowledge on existing and emerging regulatory compliance requirements across the organization.Developing the annual compliance work plan that reflects the organization’s unique characteristics.Periodically revising the compliance plan in light of changes.Guiding in a productive, professional way, the compliance team.Developing, overseeing and monitoring the implementation of the compliance programmeProviding guidance, advice, and/or training and educational programs, to improve the Companys understanding of related laws and regulatory requirements.Providing strategic direction to the Board/Management Team on compliance.Preparing and presenting clear and concise compliance reports to the Board.Interacting with regulators on compliance issues.Coordinating efforts related to audits, reviews, and examinations.Developing policies and programs that encourage managers and employees to report suspected fraud and other improprieties, without fear of retaliation.Coordinating internal compliance review and monitoring activities, including periodic reviews of departments.Independently investigating and acting on matters related to compliance.Monitoring external review processes.Assisting with enhanced due diligence and AML transaction monitoring
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