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    Compliance Monitoring - United Kingdom - B4B Payments Group

    B4B Payments Group
    B4B Payments Group United Kingdom

    1 week ago

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    Description
    Compliance Monitoring & Oversight Officer (Lead)

    Job Title:
    Compliance Monitoring & Oversight Officer (Lead)

    Location :
    UK or Lithuania / Travel required / Hybrid


    Term :
    Permanent


    Salary :
    TBD depending on seniority and experience

    Reports to :
    Compliance Lead
    B4B Payments is part of the Banking Circle ecosystem, a Payments Bank for financial institutions.

    We operate as an independent affiliate of Banking Circle and whilst we are separate companies, together we deliver an unrivalled scope of financial services and payments solutions for businesses.

    As an award-winning payment innovator, with reach throughout Europe and the USA, we provide card, payment and accounts services to corporate clients around the globe.

    We're proud to be a leader in Fintech and the payments industry for over 16 years

    Our next phase of rapid growth and expansion, coupled with our passion for payment innovation, means you will join us at a very exciting time.

    We are proud to be a truly global and diverse team, our colleagues speak 20 languages. Headquartered in London, we have offices in Newcastle, Vilnius and Boston.

    The Compliance Monitoring & Oversight Officer Lead will play a crucial role in our Compliance department, ensuring that B4B Payments operates within all regulatory frameworks applicable to electronic money and payment services companies.

    The successful candidate will be responsible for monitoring, assessing, and reporting on the compliance of business operations of B4B Payments in addition to Agents and Distributors of B4B, mitigating risks, and ensuring adherence to laws, guidelines, and internal policies.

    This role will take a lead in establishing the Oversight function and manage a small team to both 'build-out' and 'roll-out' the Oversight program, ensuring that a board range of risks and controls are managed, including the areas of: KYC/KYB, Governance, EWRA, AML/CTF, Sanctions, Fraud, Transaction Monitoring, Information Security, Complaints, Card Scheme rules (Mastercard and VISA), Marketing and Promotional material, etc
    Develop, implement, and maintain and improve effective compliance monitoring and oversight programs and annual monitoring plans.

    • Conduct regular and ad-hoc reviews to ensure compliance with external regulatory requirements and internal policies, providing assurance that controls are adequately designed and operating effectively.
    • Identify compliance risks and advise on the necessary actions to mitigate these risks.
    • Prepare and present reports on compliance monitoring activities and findings to senior management.
    • Work closely with various departments and partners to oversee and report to senior management on remediation activities and initiatives.
    • Keep abreast of new regulations and legislative changes affecting the electronic money sector, interpreting how these changes impact the business.
    • Support the continuous improvement of compliance policies and procedures.
    • A minimum of 5 years of experience in a compliance role within the financial services industry, preferably in an electronic money institution or a similar regulated entity.
    • Strong understanding of the regulatory environment for electronic money institutions, including the Payment Services Regulations (PSR), the Electronic Money Regulations (EMR), AML/CFT (Anti-Money Laundering/Countering Financing of Terrorism) regulations, JMLSG and FATF guidance, FCA Handbook.
    • A strong understanding of the risks and intricacies of operating an EMI business model with agents and distributors.
    • Detailed knowledge of the internal control environment of an EMI and understanding on how a firm implements controls adopting a risk based approach.
    • Experience Oversight/ Supervision of Agents/ Distributors with strong foundational knowledge of key elements including Customer Due Diligence (KYC/KYB/ Onboarding), Transaction Monitoring .
    • Ability to interpret and apply regulatory requirements in a business context.
    • Strong at relationship building and stakeholder management
    • Degree educated, preferably a degree in Law, Finance, Business Administration, or a related field.
    • Further Compliance-related training and certifications
    Vitality Health Care Plan

    • An individually tailored personal development plan and ongoing training
    • Employee assistance programme
    • We're always on the lookout for talented individuals to help take us further – It's important to us to hire the right people and work out a role that works.

    Equality :

    We strive to create a workplace that reflects the diverse communities we serve and where everyone feels empowered to bring their full, authentic selves to work.


    Quality :

    Trust : We strive to act in a manner that builds trust with our team, clients, business partners, and other stakeholders.

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