Marketplace Compliance Specialist

4 weeks ago

London, Greater London, United Kingdom ASOS Full time
About the Role

As the Marketplace Compliance Manager, you will be responsible for ensuring ASOS' compliance with applicable legislation, regulations, and contractual requirements related to its marketplace and co-branded credit card. You will develop and maintain ASOS' compliance strategy and relevant policies, and ensure their implementation across all relevant functions within the business.

Key Responsibilities
  1. Manage contractual compliance requirements with payment service providers and acquirers.
  2. Ensure ASOS complies with applicable marketplace rules and regulations.
  3. Manage the relationship with the card provider of ASOS' co-branded credit card.
  4. Support ASOS in ensuring it has the right marketplace governance and compliance best practices in place.
  5. Support our culture by driving Diversity, Equity & Inclusion strategies.
Marketplace Compliance Monitoring
  1. Ensure ASOS' activities comply with all applicable and relevant contractual and/or legislation and regulation in relation to its marketplace.
  2. Identify financial crime compliance vulnerabilities and implement measures to mitigate or control the risks.
Third Party Liaison
  1. Ongoing review of contracts with PSPs, acquirers, and Capital One to ensure compliance obligations are met.
  2. Build and monitor against the Marketplace Compliance Framework, identifying areas of non-compliance with third-party partners' obligations.
  3. Deal with audits and audit requests conducted by and questions from our marketplace third parties (PSPs and acquirers).
Risk Management and Governance
  1. Create, own, and drive the end-to-end Marketplace Financial Crime Risk Management Framework (MFCRM).
  2. Manage the upkeep of FCC Policies, Processes, and Procedures for ASOS Payments Limited.
  3. Work with the Compliance Manager to create the financial crime risk acceptance criteria for partners and brands at ASOS.
  4. Design and implement the company's Customer Risk Rating (CRR) assessment model.
  5. Define parameters of High, Medium, and Low risk partners for ASOS based on factors such as ownership structure, adverse media, political exposure, high-risk jurisdictions.
  6. Define ASOS' customer Risk Appetite Statement (RAS) and ensure it is consistently applied across ASOS' onboarding and KYBP review processes.
  7. Support ASOS teams in keeping the know your business partner (KYBP) process fit-for-purpose and up-to-date.
  8. Oversee the periodic and event-driven reviews of Customer Due Diligence (CDD) based on customer risk rating (High, Medium, Low).
  9. Maintain a PEP Register of all Politically Exposed Persons (PEPs) onboarded.
  10. Ensure Enhanced Due Diligence (EDD) is conducted on each PEP alongside a periodic KYBP refresh.
  11. Develop and deliver training to the business for relevant payments compliance areas (for example, Know Your Business Partner (KYBP)).
Maintain and Manage the Marketplace Compliance Risk Register
  1. Ensure all existing and new or potential marketplace compliance risks and issues are logged on the register and communicated to relevant parties within ASOS.
  2. Conduct regular reviews of risks and issues and update these where necessary.
  3. Ensure each risk or issue has a mitigation plan or control(s) assigned to it.
  4. Track each risk to point of closure evidencing how each risk has been successfully mitigated / closed.
  5. Ensure evidence for risk closure is full and complete, therefore providing an audit trail which can be verified by the third line of defence (3LOD).
3 Lines of Defence
  1. Develop and mature the second line of defence (2LOD) by monitoring all applicable areas in relation to marketplace and the co-branded credit card.
  2. Support the first line of defence (1LOD) in developing and operating their own monitoring and control documentation.
Qualifications

We are looking for someone with:

  1. Demonstrable financial crime experience from a regulated entity.
  2. Experience working in a retail marketplace environment, specialising in marketplace compliance.
  3. Experience working or engaging with payment service providers and / or acquirers.
  4. Experience in risk identification, application of appropriate mitigating controls, and risk management.
  5. Knowledge of marketplace card scheme rules.
  6. Attention to detail when reviewing contractual obligations.
  7. Experience in establishing and executing compliance monitoring frameworks.
  8. Experience acting as a Subject Matter Expert (SME) for payments compliance queries and initiatives.
What's in it for you?
  1. Employee discount (hello ASOS discount).
  2. ASOS Develops (personal development opportunities across the business).
  3. Employee sample sales.
  4. Access to a huge range of LinkedIn learning materials.
  5. 25 days paid annual leave + an extra celebration day.
  6. Discretionary performance-related bonus scheme.
  7. Private medical care scheme.
  8. Flexible benefits allowance - which you can choose to take as extra cash, or use towards other benefits.

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