Head of Compliance & MLRO, Block
Square
Financial services ecosystem
Job no longer available
Financial services ecosystem
1001+ employees
Job no longer available
1001+ employees
Company mission
To create better tools to help everyone access the economy.
Role
Who you are
- 8+ years of experience in a complex, financial services firm, or related e-money/payments industry with experience to operate at a Head of Compliance, MLRO or Deputy MLRO level
- 5+ years of people management experience
- Operational knowledge in building and running a sound compliance programme, with hands-on knowledge and an understanding of regulatory requirements for the UK
- Demonstrated ability to communicate effectively with senior management and third-party stakeholders
- Ability to build collaborative working relations with peers, colleagues and with remote based teams with individuals at all levels of the organisation
- Experience with data visualisation tools
What the job involves
- Square is looking for a Head of Compliance & Money Laundering Reporting Officer (MLRO) to join our team in the UK, who will report to the regional Chief Compliance Officer for Europe
- You will drive implementation of compliance control, processes and required operations under the regulatory and AML/CTF programs
- The successful candidate will work as an integrated part of our global Compliance team, leveraging the broader organization and resources to ensure that we maintain an effective AML/CTF program and meet all our regulatory compliance obligations
- This role is essential to Square's success in the UK and will work with colleagues across Compliance, Legal, Payments and Industry Relations, Finance, Risk, Internal Audit, Product, and Sales and Marketing
- Drive a culture of compliance across the business with a focus on the voice of the consumer
- Develop AML and financial crime processes, and ensure the implementation and appropriate controls that reflect business and regulatory requirements
- Facilitate risk-based Know Your Customer and Transaction Monitoring programmes to detect unusual activity and investigate and report suspicious activity in accordance to regulatory requirements
- Build relationships with relevant authorities, payment schemes, and regulators to ensure we operate according to the latest Financial Crime trends
- Ensure accurate responses and reports to the Regulator
- Oversee the operations of the UK Compliance team, including training, capacity planning, tracking team and individual Key Performance Indicators (KPIs), and Key Risk Indicators (KRIs) for the programme
- Work with Compliance leads to provide strategic planning, organisational structure, focus areas, and quarterly goals and key results
- Work with all relevant partners, financial institution partners, card networks and regulatory authorities
- Conduct compliance review and analysis of new regulatory developments and maintain oversight of developments affecting business activities
- Prepare reports to senior management and Board of Directors to communicate all relevant compliance issues and escalate any important or high risk compliance issues
- Work with internal compliance teams (such as Governance, Product Advisory, Quality Control) to identify clear steps necessary to avoid regulatory risks and provide solutions
Salary benchmarks
Our take
Block is a financial services technology company comprising of Square, Cash App, Spiral, TIDAL, and TBD. Its biggest brand, Square, offers hardware and software for small to medium-sized businesses enabling them to manage the entire payment lifecycle. It functions similarly to Shopify and Stripe, but has paired online payment processing with physical devices such as registers, payment terminals, and mobile card readers.
The business was originally founded as Square in 2009 by Jack Dorsey of Twitter fame. Already well-established with SMEs all over the globe, Square has significantly benefited from the increased demand for mobile payment systems. Its order management feature remains a go-to tool for small businesses that otherwise didn't have the proper infrastructure in place when demand for home delivery surged.
Square rebranded as Block in December 2021, with the Square brand name remaining in place for their seller business. The company has since come under fire for its security practices, facing lawsuits in relation to a major breach of CashApp user data, and in 2024 announced plans to reduce its workforce in order to cut costs. Despite these setbacks, there is every chance the business will move past this, though it may take some time to rebuild trust in its product.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
19% employee growth in 12 months
Company
Company benefits
- Healthcare coverage (Medical, Vision and Dental insurance)
- Health Savings Account and Flexible Spending Account
- Retirement Plans including company match
- Employee Stock Purchase Program
- Wellness programs, including access to mental health, 1:1 financial planners, and a monthly wellness allowance
- Paid parental and caregiving leave
- Paid time off (including 12 paid holidays)
- Paid sick leave (1 hour per 26 hours worked (max 80 hours per calendar year to the extent legally permissible) for non-exempt employees and covered by our Flexible Time Off policy for exempt employees)
- Learning and Development resources
- Paid Life insurance, AD&D, and disability benefits
Company HQ
SoMa, San Francisco, CA
Leadership
Jack Dorsey
(CEO)Having studied at and dropped out of New York University, Jack founded Twitter in March 2006, where he has served as CEO since. He co-founded Square with Jim in February 2009, and has remained its CEO ever since.
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