Risk and Compliance Manager, Updraft
1 day a week in office
Credit card debt consolidation loans
Job no longer available
Credit card debt consolidation loans
21-100 employees
Job no longer available
1 day a week in office
21-100 employees
Company mission
To help people break up with their credit cards and better manage their money.
Role
Who you are
- We are looking for someone who has a solid technical understanding of compliance and risk and has the capability to translate that into the business whilst understanding the wider needs of the each area of the Company
- You will be able to create a strong, collaborative and consultative culture to ensure that we are operating in a compliant manner and delivering the best possible customer outcomes
- Strong knowledge and experience of UK regulatory requirements especially those relating to Consumer Credit
- Minimum 3 years experience working in a Financial Services Risk & Compliance function
- Educated to degree standard preferred
- Relevant professional qualification preferred, but not essential
- Able to prioritise, multi-task and become comfortable with a changing environment
- Good verbal and written communication, including report writing
What the job involves
- The Risk and Compliance Manager will be working with the Chief Risk and Compliance Officer to support Updraft's goals and develop and implement a strong risk and compliance framework (including KYC/AML) fit for a fast pace quickly growing business
- You will interact with all members of the Updraft Team, across Product, Marketing, Underwriting, Technology, Customer Service and Collections to help Updraft deliver the best possible customer outcomes
- Help design and implement improved risk and compliance processes
- Support the design and implementation of the compliance monitoring plan, updating it regularly to reflect the changing regulatory landscape
- Perform assurance reviews as per monitoring plan including but not limited to oversight over: Policy and procedure compliance, Call, Email and live chat monitoring, Customer journey, including customer account reviews at all stages of the Customer life cycle, vulnerable customers, forbearance approaches, and collections and arrears management, Complaints monitoring, Incidents, Security & Data, Financial Promotions
- Work with business areas to help identify, assess, manage and report risks
- MLRO processes and reporting
- Run the supplier on-boarding process and ongoing monitoring
- Support the Marketing team to deliver fully compliant collateral, taking into consideration financial promotions rules, advertising standards and data protection requirements
- Support the development of Compliance communications and training to keep the board, leadership team and wider business informed of compliance matters
- Support the completion of Regulatory returns, applications and act on communications such as Dear CEO Letters, consultations etc
- Support with external audit requests and collating information requested from business area
Application process
- Further enquires and applications (CV and covering letter) should be sent to careers@updraft.com
Salary benchmarks
Our take
Credit card interest rates are near historic highs, while everyday costs and seasonal spending are pushing more people into revolving debt. It's an environment where balances can quietly grow, and that's the gap Updraft is aiming to fill. Founded by former HSBC lending head Aseem Munshi, the London-based fintech is focused on making borrowing simpler, fairer and far less intimidating for consumers feeling the pressure.
It uses open banking and credit data to spot patterns of expensive borrowing across credit cards, overdraft, and buy-now-pay-later products, then steps in with a lower-cost loan to refinance that debt into one clear repayment. Its recent "In Too Deep" campaign, which features the UK's first "Financial Lifeguard", translated this idea into something human and relatable, showing just how small summer splurges can quickly tip budgets off balance.
And the company is gaining momentum too. Having raised £16M in funding, build a waitlist of more than 40,000 people and granted early access to thousands of users. With a leadership team spanning banking, data science and brand building, it's pairing strong financial fundamentals with smart storytelling, putting the company in a position for continued growth as more and more consumers look for better ways out of high-interest debt.
Steph
Company Specialist at Welcome to the Jungle
Insights
Company
Funding (last 2 of 7 rounds)
Dec 2023
$29.1m
EARLY VC
Dec 2022
$10.6m
SERIES A
Total funding: $99.6m
Company HQ
Paddington, London, UK
Leadership
Aseem Munshi
(Co-Founder & CEO)Prior to Updraft, Aseem ran the credit card and unsecured loan business for HSBC UK. Over 15 years experience in managing several multi-billion dollar consumer asset portfolios.
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