Compliance and Risk Manager

4 months ago

Peterborough, United Kingdom Travelex Full time

Job Title : Compliance and Risk Manager

Job Type: Full Time, Permanent
Location: London or Peterborough , Hybrid

Role purpose

An exciting opportunity has come about for an experienced Compliance and Risk (C&R) professional to join Travelex to provide regulatory and C&R support.

Travelex Europe Limited (TXE) is an FCA-regulated e-money licensed entity, with a growing remit to spearhead a new generation of regulated e-money and payment service products. The Compliance and Risk Manager will be responsible and accountable for providing compliance support to TXE and supporting with the company’s product agenda. Consequently, this is an excellent opportunity for the role-holder to drive all aspects of regulatory compliance and risk mitigation for the company’s products and the development of C&R controls as relevant to the products and services that Travelex offers or plan to offer in the future.

Key accountabilities
 

Ensuring existing product compliance and driving ‘compliance by design’ including:

Ensuring regulatory compliance of the business and preparing licence applications where required

Regulatory engagement & reporting activity and research and advisory work as required/relevant, including contribution to periodic C&R horizon-scanning and maintaining Obligations Register

Oversight & Management of Operational Compliance & Risk Controls for product development

Working with other Compliance & Risk colleagues, together with other business and functional stakeholders, to foster a cross-departmental approach to Compliance and Risk Management

Managing product and marketing requests for approval of regulated product

Internal Reporting – ensuring & managing the relevant & appropriate Compliance & Risk reporting are functioning & operational within the relevant areas; ensure consistency with Global Standards & Approach
 

For global markets where Travelex is the Card Scheme issuer, ensuring existing and future products, services and processes comply with card scheme requirements including:

Ensuring relevant teams comply with product constructs, complete necessary registrations and obtain appropriate approvals

Managing compliance monitoring and oversight of reporting in Mastercard Connect for fraud, risk and compliance

Supporting the Card Operations team with escalated queries relating to card scheme rules, alerts or submissions

Working closely with compliance colleagues across the geos and ensuring necessary training is arranged for the business

Compliance and Risk Management and oversight of UK TXE products

Supporting the coordination of product development and new product development life cycles and assessments for C&R including but not limited to impact assessments, operational resilience and outsourcing assessments, AML CTF impact and financial crime risk assessments

Developing and implementing C&R controls

Creation and maintenance of internal policies and procedures development in line with the relevant regulatory requirements

Advisory – Provide, as required/relevant regulatory engagement, oversight, change management, consultations; ensure consistency with Global Standards & Approach

Additional Responsibilities

Works closely with the Product Management, in the provision of support to business colleagues and drive compliance by design

Ensuring Finance activities for the regulated products are managed in line with regulatory and card scheme requirements

Produce accurate, timely and relevant reporting and MI for the Global Compliance & Risk Reporting Framework including:

Local internal reporting

External regulatory reporting

Relevant functional area Management Teams

Relevant Legal Entity Boards & Risk Committees

Responsible for pro-active and regular communication with Support & Enabling functions and the business, including IT, and the Product and Marketing Teams

Actively communicate and seek feedback from colleagues and customers

Proactive in the provision of feedback and the delivery of ideas to develop and improve solutions

Undertakes any necessary training associated with the duties of the post and participates in training and development activities. Similarly, willing to offer and deliver training, within areas of competence, to C&R colleagues to promote cross-functional knowledge-sharing

Complies with all Company policies and legislation in the performance of duties and responsibilities

Maintains confidentiality and observes data protection guidelines

Manage expenses in accordance with Company Expense Policy

Carries out any other reasonable duties commensurate with their capability

Experience and personal qualities

Essential

Minimum of 5 years of Compliance and Risk Management of Card / Payment Service / E-money / FCA regulated firms, or other equivalent or transferrable experience

Previous experience in driving ‘compliance by design’ across Payment Services and E-Money, in particular Prepaid Card products

Experience of working with the card schemes such as Mastercard and Visa

Strong understanding of the card payment ecosystem, scheme rules and key regulatory requirements including developing and implementing C&R controls

Understanding of AML CTF controls & Risks; including licencing and model risk and impact assessments 

Experience of developing & maintaining Regulatory Risk & Impact Assessments

Motivated, self-starter with proven experience of working Agile

Desirable

Risk Management/Financial Crime/AML Qualifications

3rd party relationship management experience

Experience using Mastercard Connect and Visa OnLine applications and publications
 

Why Travelex?
 

To remain the world’s leading foreign exchange specialist, we are focused on making our customers’ lives simpler, more engaging and hassle free while they travel or move money abroad. We promise to give them the freedom and peace of mind to explore the world, their way – enabling them to travel confidently because they know they have us to lean on.

Customer centricity and digital are at the heart of our business strategy. Our commitment to innovation has never been greater, with the development of several digital-first, greenfield products and services. And with the Travelex's resources, deep industry experience and leading brand we are inventing the future of FX, cross-border e-commerce, and international payments.

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, colour, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status

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