Compliance Manager

1 month ago

London, Greater London, United Kingdom Pay Limited Full time
Fraud Compliance Manager

The Fraud Compliance Manager will assume the daily line management responsibilities for the Fraud Compliance Monitoring Service team and provide a critical role in ensuring the effective operation of the FPS APP Compliance Monitoring Regime for the Authorised Push Payment (APP) Service along with compliance aspects of any future Fraud Services that Pay.UK commitments to both our Regulators and Customers, for the monitoring of compliance, reporting of compliance / non compliance and management of non compliance through consequence management, in respect of APP, are delivered. In particular, the role ensures effective engagement is performed with the Payment Systems Regulator (PSR) for all reporting requirements in respect of the FPS APP Compliance Monitoring Regime.

The Fraud Compliance Manager will support the Head of Fraud Operations in overseeing the delivery of all Pay.UK responsibilities for the FPS APP Compliance Monitoring Regime as defined and amended from time to time within the FPS APP Compliance Monitoring Regime document.

The role will work with and support the Head of Fraud Operations to build a motivated and efficient Fraud Operations function through effective performance management, identifying process efficiencies / standardisation, learning opportunities and retaining high quality, professional colleagues.

Key Responsibilities

  • Day to day line management of the Fraud Compliance Monitoring Service team, providing clear leadership, direction and performance management to Fraud Compliance Monitoring Service colleagues.
  • Work closely with the Head of Fraud Operations in establishing consistent approach, processes and capabilities to build a motivated team to ensure smooth and aligned compliance monitoring activity across fraud operations.

Fraud Compliance Monitoring

  • Deliver the end to end FPS APP Compliance Monitoring Regime for ;
  • Coordinate the monitoring of PSP Customer compliance against defined parameters using data and reporting available from the Reimbursement Claims Management Service (RCMS) and the Pay.UK data platform.
  • Ensure analysis of available compliance monitoring data is performed effectively, including the identification of trends and setting of benchmark performance levels using data.
  • Ensure non compliance of PSP Customers is identified and monitored appropriately and the defined processes in respect of alerting relevant PSP Customers / the PSR are followed.
  • Coordinate the consequence management process for non compliant PSP Customers, monitoring and reviewing the effectiveness of non compliant PSPs remediation plans.
  • Oversee the provision of reports for internal and external stakeholders (as relevant) including those relating to the status of any PSPs in consequence management as well as underlying reasons / external events that may lead to non compliance of PSPs.
  • Where appropriate, support the Fraud Operations Manager in the operation of the Fraud Services providing insight and guidance as required, facilitating cross-skilling of colleagues.

Customers / Stakeholders

  • Support the Head of Fraud Operations ensuring Fraud Operations effectively acts as the stakeholder advocate on all operational matters.
  • Oversee the provision of support for all PSP Customers in respect of the Compliance Monitoring Regime, in particular use of the RCMS and the consequence management process, collaborating with other business directorates as required to expedite.
  • Provide a dedicated point of expertise for internal and other external stakeholders in respect of compliance monitoring, in particular the FPS APP Compliance Monitoring Regime, along with insight and guidance where appropriate on other APP related matters.
  • Coordinate the end-to-end monitoring of PSP Customers' performance (in relation to APP claims) against agreed service levels, to ensure service level targets are achieved and end user expectations are met, ensuring effective documentation of performance data against agreed SLAs.
  • Support the management of risk through the operation of controls within Fraud Operations and effective identification of emerging risk. Work closely with the Payments Risk team to ensure close collaboration across the Directorate on Risk Management processes and activities, including systemic risk. UK Risk Framework as appropriate with 1LOD/2LOD.
  • Actively review crisis management and incident handling procedures to ensure these are maintained and contingency arrangements in place to accommodate the needs of the Fraud Compliance Monitoring team.

Requirements

  • Business related degree or equivalent experience.
  • Significant experience working within a financial crime or compliance role gained working in-house within a financial services institution or professional services advisory business.
  • Demonstrable experience building effective fraud compliance teams, particularly within Financial Services or Banking.
  • Experienced in leading teams in a heavily regulated environment according to, or exceeding the, expectations of regulatory stakeholders.
  • Considerable breadth of knowledge of business practice & risks, in particular relating to fraud.
  • Knowledge of fraud typologies and operating rhythm is desirable.
  • Ability to anticipate and identify potential risks, limitations and opportunities related to the compliance monitoring activities. From Bacs to Faster Payments and cheques – we act as the single operator for all UK retail payments. We put the needs of consumers and businesses at the heart of everything we do, working in the public interest to ensure that the systems the country relies on for its banking transactions are safe, open, innovative and resilient. Our payment systems underpin the services that enable funds to be transferred between people and institutions. In 2023, the UK's retail payment systems processed 11.3 trillion through Bacs Direct Credit, Direct Debit, Faster Payments, and cheques, and our Current Account Switch Service has facilitated over 10.p> Every day, people and businesses use the services we provide to get their salaries, pay their bills and make online and mobile banking payments. UK delivering the best-in-class payment infrastructure and standards for the benefit of consumers and businesses nationwide. Benefits & Additional Information
    • 12% Non-contributory pension
    • Discretionary annual bonus
    • 30 days annual leave (excluding bank holidays)
    • Employee assistance programme
    • Cycle to Work Scheme
    • Season ticket loan
    • Annual fitness subsidy of up to £500 per annum
    • Working from home policy - minimum 40% in the office (eg. 2 days in the office over a 5 day working week)
    • We are a Disability Confident Committed Employer

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