Head of Risk & Compliance

Jobs Apr 14, 2022

Role : Head of Risk & Compliance
Location: UK (Remote)
Reports to: Chief Executive Officer

About OneBanks:

OneBanks is an exciting new fintech business bringing in-person banking back to the high street and using technology to become the leading shared banking network globally. We use innovative, cutting edge Open Banking technology and world-class software to enable customers to access a range of banking services provided by their own bank in a secure, user-friendly way.

We are deploying this technology through our staffed and accessible kiosks where customers can benefit from face-to-face support from qualified professionals for their basic banking needs, regardless of which bank they have accounts with.

These physical kiosks are helping to drive digital inclusion by bridging the digital divide growing in society and supporting financial inclusion through better access to banking services in the community.  This social purpose drives our people and we’re passionate about combining the latest technology with human banking to become the new face of banking on the high street

We currently have 3 OneBanks hubs in Scotland with plans to open more across the UK and have global ambitions. With a number of exciting partnerships in the pipeline, the future is bright and it’s a great time to come & join us!

We are now looking for a self motivated and pragmatic person to join us as Head of Risk & Compliance. The role holder will be responsible for the overall delivery of an enterprise wide view of Risk and Compliance, ensuring that Onebanks Hub has appropriate risk management policies, procedures and systems in place to identify, measure, manage and monitor all risks and to ensure this meets relevant regulatory requirements.

About you:

We have huge ambitions and our people are fundamental to our success - to become one of us, attitude is just as important as experience.

  • You have strong leadership and interpersonal skills with the ability to influence behaviours at all levels of an organisation. You are able to produce and present effective presentations and training sessions.
  • You enjoy working in an entrepreneurial, fast paced environment
  • You understand technology and can liaise with our user experience and technology teams. We’re doing something that’s never been done before so you will need an innovative approach to your solutions.
  • You are a self starter with the ability to act on your own initiative.

Your Experience:

  • Previous experience of working in banking or payments is desirable. Experience working with open banking and within the payment card industry are a bonus, but not essential.
  • You will have a proven track record of exercising oversight over governance, risk, compliance and control arrangements.
  • You will have considerable knowledge and experience of best practice risk management, governance frameworks and methodologies in relation to UK financial services (FCA, PSR). You also have in depth knowledge of regulatory compliance requirements, financial crime and risk management principles in the UK.
  • You are able to ensure compliance with regulatory obligations whilst taking a commercial and practical approach to risk based challenges and offer appropriate solutions.
  • You have previously lead risk and compliance functions and held Money Laundering Reporting Officer (MLRO) roles (SMF 17/CF11) and you have excellent knowledge of Payment Services Regulations 2017, UK Money Laundering Regulations, POCA, JMLSG guidance, UK Bribery Act, FCPA, OFAC/EU/UK sanctions and policy writing.

Key Responsibilities:

Managing Company Risk:

  • Designing, implementing and leading a comprehensive risk management framework for the organisation. You will guide the organisation and the management team in understanding and effectively addressing OneBanks Hub risks.
  • You are able to horizon scan and increase the organisational awareness of risk affecting the business. This will include ensuring that the Senior Management Team remains informed of regulatory, legislative and best practice changes and their obligations under these changes as well as changes or updates to existing frameworks.
  • You will work with our product team to understand our product and services and help to manage the balance of risk and innovation in our solutions and also help instruct product roadmap with compliance related enhancements.
  • Establishing and maintaining an effective Business Continuity and Disaster Recovery plan.
  • You will set the standards to control, and mitigate key Supplier risk.
  • You will promote a culture of responsible risk taking throughout the firm within a controlled environment. You will provide support, education and training to ensure that our people are appropriately equipped and risk awareness capability is built right across the organisation. Ensure the delivery of regular and risk-based training including financial crime training.

Ensuring Compliance:

  • You will manage compliance activities and report to the Board and Audit and Risk Committee on the adequacy and effectiveness of the risk management process, identifying areas to mitigate and remedial actions, including driving implementation as applicable. You will ensure that the Board of Directors, Senior Management and employees comply with the rules and regulations of the UK and all other relevant regulators. Ensure that the firm's policies and procedures are being followed, and that behaviour in the firm meets the Business Code of Conduct and Systems and Controls obligations.
  • Establishing and leading the firm's Risk and Compliance function to provide effective oversight to the business, ensuring that the firm can adequately identify, measure and report on key controls and that the staff have the right skill sets to support the management of the risk framework.
  • Developing and managing regular monitoring and reporting processes to inform senior management, the Audit and Risk Committee and the Board, as necessary and manage as required.
  • You will work closely  with Operational teams to establish an effective and scalable control environment.
  • Manage the evolving compliance requirements as the range of services provided increases

Oversight of financial crime:

  • You will act as the firm's Money Laundering Reporting Officer responsible for the development, implementation and maintenance of an effective anti-money laundering program.
  • You will create the company’s AML framework and controls and ensure we are compliant with relevant FCA authorisations
  • You will liaise with national and international law enforcement entities and with Principal  (Nuapay) MLRO.
  • You will provide oversight of the Financial Crime Prevention function by providing support and guidance and setting policy standards in collaboration with Operations. You will be responsible for protecting the business against fraud and money laundering risk, internal fraud and related reputational risks
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