Compliance Officer, Abound
£40-50k
+ Equity
2-5 days a week in office
Personal loans & SaaS credit decisioning platform
Be an early applicant
Personal loans & SaaS credit decisioning platform
21-100 employees
Be an early applicant
£40-50k
+ Equity
2-5 days a week in office
21-100 employees
Company mission
To make affordable loans available to more people. We have built award-winning technology to look beyond credit scores and offer fair credit to people ignored by traditional lenders.
Role
Who you are
- First-hand knowledge of regulatory compliance or equivalent in retail financial services. This may be through a first line controls role, or through an Operational role where compliance and a sound customer outcomes approach has been a significant part of your role
- Proactive and dynamic approach
- Understanding of FCA Handbook regulations that are relevant to the business
- Familiarity with the practical application of the Consumer Duty
- Ability to form and justify risk-based judgements
- Preserve confidence and act with discretion
- Clear and confident communication at all levels of the organisation including executive management
- Strong written and numerical skills, including preparation of Board reports
What the job involves
- Broadly-based regulatory compliance role, reporting to the Senior Compliance Officer
- Perform a range of regular compliance monitoring in order to identify and understand real or potential issues and risks to our customers and the firm, and to provide meaningful actions to remedy and mitigate
- Draft reports to the Board and to management on the compliance monitoring undertaken
- Keep up to date with regulatory changes, informing key colleagues about the changes and what it means for us and our customers
- Assist in ensuring that our suite of policies is regularly reviewed by appropriate team members, in order to ensure that they are accurate, up-to-date and in line with regulatory requirements
- In this role you will need to build a close and effective relationship with all parts of the business, engaging constructively with colleagues on compliance matters
- Act as point of escalation for individual customer cases, e.g. fraud risk, complaints etc
- Assist with Anti-Money Laundering assessments and advise the Money Laundering Reporting Officer on AML matters
- Support the Chief Compliance Officer on risk, compliance and regulatory matters, and on providing internal advice on development to our products and services
- Fintern offers hybrid working arrangements. The office location is in London
Salary benchmarks
Our take
Borrowers in the UK have been consistently over-charged in recent years, with lenders rejecting requests mostly on the basis of poor credit histories. Through Open Banking, Abound (formerly Fintern) is working to build a different approach that evaluates live transaction data, usually ignored by traditional lenders, in order to offer loans at more favourable prices.
Traditional banks are also slowly starting to use Open Banking data for income verification while other emerging firms, like Abound, are using it to support underwriting decisions. The company's technique allows it not to exclude people with limited or poor credit history and, instead, aims at defining a repayment plan that borrowers can realistically sustain over time.
A forward-looking approach is strongly needed in the lending industry, with the main improvement being the consideration in lending decisions of each customer's current circumstances and recent history. The challenge for Abound in the near future is to effectively exploit machine learning, technology and Open Banking Data while differentiating from the rest of the industry with its own customer-centric approach.
Freddie
Company Specialist at Welcome to the Jungle
Insights
Company
Employee endorsements
Intelligent people
"Everyone at Abound is focused on innovating and always willing to experiment new approaches and ideas. It makes the environment very stimulating."
Company benefits
- Everyone owns a piece of the company 📈Equity
- 25 days’ holiday a year, plus 8 bank holidays
- Save up to 60% on an electric vehicle through our salary sacrifice scheme with Loveelectric
- We offer all employees an affordable loan of up to £10k. The amount you can borrow may vary slightly, depending on your personal situation.
- Regular team lunches and events
- We invest in your training to help you grow in your career. Learn a new programming language. Sharpen those communication skills
- Free gym membership at the Circle Gym & Spa
- Free breakfast and snacks in the office. We’ll even cover your dinner if you’re working late
- Birthday cakes in the office
- Team wellness budget to be active together - set up a yoga class, a tennis lesson or go bouldering
- 2 paid volunteering days per year to all employees with the company charity - Spread a Smile
Company values
- Our customers come first
- We are all owners
- We move fast but thoughtfully
- We win as a team
Company HQ
St Katharine's & Wapping, London, UK
Leadership
Gerald Chappell
(CEO)Ex-Partner at McKinsey and EY. After leading McKinsey’s Digital Lending practice globally, they got frustrated with how slow banks were at adopting AI and new technology - it was time for a change.
Dr. Michelle He
(COO)Ex-Director at EY with a PhD in Machine Learning. 15 years of experience in financial services convinced them that another way of doing credit was possible.
Diversity, Equity & Inclusion at Abound
Dr. Michelle He (Co-founder and COO)
- We've always wanted to build the best possible team, regardless of accent, gender or background. Our team at Abound is diverse at every level. We help each other and work as a team to achieve our shared mission.
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