Senior Compliance Manager, Affirm
£117-157k
+ An employee stock purchase plan
POS installment loans
Be an early applicant
POS installment loans
1001+ employees
Be an early applicant
£117-157k
+ An employee stock purchase plan
1001+ employees
Company mission
To deliver honest and transparent financial products that improve users' lives.
Role
Who you are
- Experience: 7+ years of professional experience in compliance advisory and monitoring, ideally within a UK-regulated consumer credit, Buy Now Pay Later (BNPL), or automotive finance environment
- Expertise: A high-level working knowledge of UK regulations, including the Consumer Duty, the Senior Managers & Certification Regime (SM&CR), and anti-money laundering regulations (MLRs, POCA, JMLSG). You should be an expert on regulatory compliance, especially as it applies to new financial products
- Technical Skills: Proficiency in using FCA regulatory reporting systems like Connect, Reg Data, and My FCA, with the ability to interpret and submit regulatory returns and applications
- Attributes: You should be a proactive and inquisitive problem-solver with a strong interest in fintech and consumer financial protections. You must be able to operate calmly in a fast-paced environment and have outstanding communication skills to present complex issues clearly
- Education: A Bachelor's degree or equivalent experience is required; compliance certifications are a plus
What the job involves
- Affirm’s UK Compliance team designs and implements a compliance program that proactively addresses regulatory requirements while also identifying potential compliance issues that may arise
- Compliance program activities include advisory, monitoring, testing, reporting and oversight
- Although a second line of defence function, Compliance partners with the business to support new products, markets, and initiatives, as well as issue identification, remediation plans and risk assessment
- Compliance uses multiple data sources to enable informed decision making, strengthen controls and provide good outcomes for consumers
- As a Senior Manager, Compliance, you will provide direct support to the Director, Compliance, helping identify and mitigate compliance risks without compromising business objectives
- Regulatory Reporting and Data Management: Identify and report on data sources to support the firm's regulatory submissions. This includes preparing data summaries for the UK Risk Management Committee and Board level, and ensuring timely submissions to regulators like the FCA
- Compliance Monitoring and Assurance: Lead the development of the firm's Compliance Monitoring Programme (CMP), ensuring it aligns with the firm's risk appetite. Conduct compliance assurance reviews and testing, reporting findings, and making improvement suggestions. Support the firm's enterprise-wide compliance risk assessment
- Appointed Representative (AR) Oversight: Lead the development and operationalisation of the firm's AR framework, including initial due diligence, onboarding, ongoing oversight, and termination. Act as the primary contact for the AR network, managing their questions and requests. Ensure all AR-related reporting and notifications are submitted to the FCA
- Consumer Duty and Management Information (MI): Lead the regulatory input for the firm's MI dashboard, focusing on consumer outcomes and Consumer Duty requirements. Prepare the firm’s annual Consumer Duty Board report and provide regulatory advice on the Fair Value Assessment (FVA)
- Regulatory and Policy Development: Develop the firm's horizon scanning process to monitor regulatory changes and their potential impact. Assist in creating and updating compliance training materials for both internal use and the AR network. Ensure the firm's AR framework policy and process are consistently applied and recommend enhancements as needed
- Cross-Functional Collaboration: Work with departments like Legal, Risk, Marketing, and Product to review financial services marketing materials, provide compliance advice, and address any issues
- Governance and Structure: Assess the firm's governance structure against regulatory requirements and make recommendations for improvement
Our take
Affirm offers point-of-sale loans to consumers, working with merchants like Shopify, KAYAK, and Walmart. Buy now, pay later transactions have grown in popularity in recent years, and this business is tapping into the market with a totally different approach to credit - by delivering the Affirm card, the first US debit card with the option to pay-over-time.
Boasting over 21M consumers and 337,000+ merchants, the company offers flexible payback options, ranging from 3 to 36 months. The interest rates run between 0% and 30%, so, while they are not necessarily the cheapest option, Affirm prides itself on having no fees for late payments, no hidden charges, and total transparency about what people will pay before they take out a loan.
Affirm collects payments from the customers and pays the merchants directly, shouldering the risk itself. The company has boosted its market share, expanding its availability beyond the US to include most of Canada, and continues to launch new features and create new partnerships towards bettering its offering.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
-11% employee growth in 12 months
Company
Funding (last 2 of 5 rounds)
Sep 2020
$500m
SERIES G
Apr 2019
$300m
SERIES F
Total funding: $1.1bn
Company benefits
- Compensation: We have a simple, flexible, and transparent remote-first compensation structure so you can make the best decisions for yourself and your family
- Spending Wallets: Access tech, food, lifestyle, and family planning wallets for your expenses
- Supportive Communities: Get involved with our employee resource groups and community groups
- Remote-first Workforce: If your role is remote, you can set up shop anywhere in your home country
- Generous Time Off: Take the time you need when life happens
- Health Benefits: Get a plan that fits your needs
- Mental Healthcare: Take care of your mind with great mental health programs
- Parental Leave: Birth and non-birth parents get 18 weeks’ paid leave. Plus, a 4-week return-to-work transition program, at full base pay
- Away Days: We offer 20 company-wide paid days off—which help our teams collectively pause to recharge
- Learning & Development: Engage in exciting learning programs to level up your growth
Company HQ
Chinatown, San Francisco, CA
Leadership
Max Levchin
(Co-Founder & CEO)Has founded/co-founded numerous companies, holding various executive positions at each, including Paypal, Slide, Glow, HVF Labs, and SciFi VC. Also worked at large brands including Google, Yelp, Yahoo, and Evernote.
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