Chief Compliance Officer, Bits
4-5 days a week in office
Credit cards and more
Open for applications
Credit cards and more
21-100 employees
Open for applications
4-5 days a week in office
21-100 employees
Company mission
To help customers learn to manage credit.
Role
Who you are
- 15+ years of experience in compliance roles within the financial services or fintech industries
- Proven track record of developing and implementing regulatory compliance programs
- In-depth knowledge of relevant laws and regulations, including FCA guidelines and consumer protection laws
- Exceptional leadership and management skills
- Strong analytical and risk assessment capabilities
- Excellent communication and interpersonal skills, with the ability to influence stakeholders at all levels
- Strategic mindset with the ability to align compliance initiatives with business goals
- Relevant certifications (e.g., CAMS, CRCP) are highly desirable
- Ability to thrive in a fast-paced startup environment
What the job involves
- We are looking for an experienced Chief Compliance Officer (CCO) to lead our compliance initiatives and oversee regulatory affairs at Bits
- In this senior leadership role, you will be responsible for developing, implementing, and managing our compliance programs to ensure adherence to applicable laws, regulations, and industry standards
- You will work closely with the executive team, including the Founder, to align compliance objectives with our business strategy and drive a culture of compliance throughout the organization
- The ideal candidate has extensive experience in compliance within financial services and a deep understanding of regulatory requirements, including those relevant to fintech
Salary benchmarks
Our take
Oftentimes, the advice to those with low credit is to build it up with the careful use of high-interest credit cards. However, this comes with the obvious downside of being high risk as well as high reward. Bits, instead, helps people with low credit to improve their scores with a subscription store card that lets them access in-store savings while quickly raising their credit score.
Millions of people in the UK have difficulty accessing financial services due to their credit scores, so it is no surprise that a number of other startups like Pockit and Portify have emerged offering alternative products for this underserved group. Bits, however, stands out for its unique approach that doesn’t put people into any debt at all - with the company making no money on interest.
As Bits has grown, it has expanded its product and now reports to Equifax and TransUnion on top of Experian. Boasting 300,000 users and a strong rating on Trustpilot, it is clear the company has already made an impact and it will be interesting to see what it does in the future.
Freddie
Company Specialist at Welcome to the Jungle
Insights
Company
Funding (2 rounds)
Sep 2020
$0.2m
SEED
Oct 2018
$0.2m
SEED
Total funding: $0.3m
Company HQ
London, UK
Leadership
Faisal Khalid
(Founder)A Harvard graduate in Economics, Faisal has over a decade of experience in major payment companies such as American Express. More recently, they founded Paysnapp, an online payment service for low income migrant workers which was acquired by VFD bank.
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