Senior Compliance Manager / DMLRO, Verto
Salary not provided
Senior and Expert level
London
2+ days a week in office
Simplifying cross-border payments in emerging markets.
Open for applications
Simplifying cross-border payments in emerging markets.
101-200 employees
FintechB2BEnterprisePaymentsSaaS
Open for applications
Salary not provided
Senior and Expert level
London
2+ days a week in office
101-200 employees
FintechB2BEnterprisePaymentsSaaS
Company mission
To make cross-border payments accessible for businesses and financial inclusion for all.
Role
Who you are
- The ideal candidate will have at least five years of relevant experience in compliance roles, with a strong understanding of regulatory requirements and industry best practices
- This role requires a strong understanding of financial regulations, particularly in the payment industry, along with the ability to implement and maintain effective compliance programs
- Success in this role requires someone comfortable working in a fast-paced environment to build strategy and execution plans as well as developing strong relationships both internally and with key partners
- This role requires a forward-thinker who is able to balance being ruthlessly customer-focused with internal resources and external requirements
- Bachelor's degree in Finance, Business, Law, or related field; advanced degree or professional certification (e.g., CAMS) preferred
- Excellent analytical, problem-solving, and decision-making skills. Ability to communicate complex regulation and/or concepts simply, clearly and effectively to non-compliance stakeholders
- Minimum of 5 years of experience in compliance within the financial services industry, with specific experience in fintech preferred
- Strong knowledge of relevant regulatory frameworks, including but not limited to AML, CTF, and payment regulations (e.g., PSD2, GDPR)
- Experience with transaction monitoring systems and investigative techniques
- Strong analytical and problem-solving skills, with the ability to interpret complex rules/data and identify patterns of suspicious activity
- Excellent communication and interpersonal skills, with the ability to interact effectively with stakeholders at all levels of the organisation
- Proven leadership abilities, with experience in managing and mentoring a team
- Ability to work independently and collaboratively in a fast-paced environment, managing multiple priorities and deadlines effectively
- Strong understanding of relevant laws and regulations including but not limited to financial services regulations, consumer protection laws, anti-money laundering (AML), know your customer (KYC), and data privacy laws
- Demonstrated ability to exercise sound judgement, discretion, and confidentiality in handling sensitive matters
- Experience working in a fintech or technology-driven environment is a plus
- Certification in compliance (e.g., Certified Regulatory Compliance Manager) is desirable
What the job involves
- We are seeking an experienced Senior Compliance Manager/Lead to join our team
- As the Senior Compliance Manager/Lead in our fintech organisation, you’ll report directly to our Head of Compliance & MLRO and be responsible for leading and overseeing compliance initiatives, ensuring that our company operates within legal and regulatory guidelines
- Develop and implement compliance programs, policies and procedures in accordance with applicable laws, regulations, and and controls relevant to the payment fintech industry.
- Conduct regular gap assessments and risk analyses to identify areas of improvement and enhance the effectiveness of our compliance program over time.
- Collaborate with cross-functional teams to integrate compliance requirements into business processes and product development.
- Monitor changes in regulatory requirements and assess their impact on the firm's compliance program.
- Coordinate with relevant stakeholders to ensure timely implementation of regulatory updates and enhancements to compliance processes and procedures
- Monitor regulatory developments and assess their impact on the firm's operations.
- Conduct compliance risk assessments and assist in developing mitigation strategies.
- Respond to regulatory inquiries and coordinate regulatory examinations, audits, and inspections.
- Evaluate the compliance posture of third-party service providers and vendors, including payment processors and technology partners.
- Conduct due diligence reviews and ongoing monitoring to ensure that vendors meet compliance standards and contractual obligations
- Investigate suspicious activities and file suspicious activity reports (SARs) as necessary
- Assist the MLRO in developing and implementing AML/CTF policies, procedures, and controls in accordance with regulatory requirements and industry standards.
- Conduct periodic reviews and assessments of the organisation's AML program to identify and address any weaknesses or deficiencies.
- Monitor changes in AML laws and regulations and ensure that policies and procedures are updated accordingly.
- Utilise automated compliance monitoring tools and systems to detect and investigate potential compliance breaches, unusual activities, or suspicious transactions.
- Analyse data and trends to identify emerging risks and patterns that may require further investigation or remediation.
- Oversee the organisation's transaction monitoring systems to detect and investigate suspicious activities.
- Analyse transactional data and conduct investigations into potentially suspicious behaviour or transactions
- Ensure timely reporting of suspicious activities to the appropriate authorities in accordance with regulatory requirements
- Develop and deliver compliance training programs to employees, focusing on relevant regulatory requirements and internal policies
- Promote a culture of compliance and ethical conduct throughout the organisation.
- Develop and deliver AML training programs for employees to increase awareness of AML/CTF risks and responsibilities.
- Provide guidance and support to employees on AML-related matters, including customer due diligence (CDD) and enhanced due diligence (EDD) requirements.
- Prepare and submit regulatory reports and filings in a timely and accurate Manner
- Serve as a point of contact for compliance-related incidents, breaches, or inquiries, and coordinate the firm's response efforts
- Prepare incident reports and conduct post-incident reviews to identify root causes and implement corrective actions to prevent recurrence
- Maintain comprehensive records of compliance activities, including audit trails, documentation, and reports.
- Conduct periodic compliance testing and internal reviews to assess theneffectiveness of controls and identify areas for improvement
- Assist in implementing remedial actions and corrective measures to address compliance deficiencies
- Assist in conducting AML risk assessments to identify and prioritise AML/CTF risks facing the organisation
- Recommend risk mitigation strategies and controls to address identified risks effectively
- Develop risk mitigation strategies and action plans to address identified risks, collaborating with business units and functional leaders to implement appropriate controls and monitoring mechanisms
- Establish key risk indicators (KRIs) and performance metrics to monitor the effectiveness of risk mitigation efforts and provide regular updates to the Head of Compliance & MLRO and senior management
- Proactively identify opportunities to enhance the effectiveness and efficiency of the compliance program through process improvements, automation, and technology solutions
- Participate in industry forums, working groups, and professional networks to stay abreast of emerging trends and best practices in compliance management
- Drive a culture of continuous improvement and innovation within the compliance function, leveraging technology, automation, and data analytics to enhance efficiency, effectiveness, and scalability
- Lead initiatives to streamline compliance processes, eliminate redundancies, and optimise resource allocation, ensuring that compliance activities are conducted in a cost-effective and sustainable manner
- Encourage experimentation and creativity in exploring new approaches to compliance risk management, encouraging team members to challenge conventional wisdom and embrace change.
- Liaise with internal stakeholders, including legal, compliance, risk management, and business units, to ensure alignment on AML/CTF initiatives
- Provide compliance guidance and support to business units and functional teams to ensure alignment with regulatory requirements and industry standards
- Serve as a point of contact for external stakeholders, such as regulators and law enforcement agencies, on AML-related matters.
- Stay at the forefront of developments in compliance, fintech, and related fields, continuously expanding your knowledge and expertise through self-study, training, and participation in professional associations and conferences
- Share insights and best practices with peers and industry colleagues through thought leadership articles, presentations, webinars, and other knowledge-sharing platforms
- Mentor and coach junior members of the compliance team, providing guidance, feedback, and opportunities for professional growth and development
Salary benchmarks
Our take
Verto is a UK-based global B2B payment platform, specialising in assisting small to medium-sized businesses with their supplier transactions across borders. With a particular focus on African countries, Verto addresses the challenges associated with incompatible monetary transactions between African currencies and Western countries. By eliminating the need for intermediary currency conversions to dollars, Verto offers transactions that are up to nine times cheaper than those offered by traditional banks.
While many fintech companies have primarily focused on person-to-person transactions across borders, Verto stands out by catering specifically to small business transactions. This is a significant market, considering that 30% of global imports are sourced from foreign B2Bs. Verto's expansive reach extends to over 200 countries, exemplifying its forward-thinking approach in an increasingly interconnected world.
In 2022, Verto established partnerships with notable companies such as Locusnine, an Indian software company, and Xente, a Ugandan company. These collaborations serve as a testament to Verto's promising position within the industry. Building on these breakthroughs, Verto has ambitious plans to expand further into emerging markets in the coming years, capitalising on its innovative solutions and growing reputation.
Freddie
Company Specialist at Welcome to the Jungle
Insights
Top investors
Some candidates hear
back within 2 weeks
32% employee growth in 12 months
Company
Employee endorsements
Career progression
"Clear goal setting and KPIs with a new progression structure just released making development and personal career goals a priority and bi annual..."
Funding (last 2 of 3 rounds)
Sep 2021
$10m
SERIES A
Jul 2019
$2.1m
SEED
Total funding: $12.3m
Company benefits
- 🌎 The opportunity to work from anywhere in the world for 30 days a year, allowing you the chance to learn more about the world and global economy (we also love it when people use this time to visit emerging markets)
- ✈️ Access to our Employee Integration programme, giving you the opportunity to travel to and work with the team in our hubs in Kenya, Nigeria, South Africa and India
- 💪 Discounted gym membership
- 🥂 Regular company social events
- 🤑 A Perkbox Subscription giving you discount to 1000s of retailers
- 🥣 Free Deliveroo lunches on days in the office
- 🏥 Private Vitality Health and Dental coverage for you and your family
- 🍼 Generous parental leave policy
- ☕ Stay refreshed: teas, coffee and beer on tap
Company values
- Champion the mission: Verto is driven by curiosity and belief to solve cross-border payments pain points globally
- Be the best: Verto is open, takes appropriate risks, adopts a results-driven approach, and are the best at what we do
- Run with it: We are determined, seek challenges, take ownership of tasks, act fast and deliver results
- Go the extra mile: Verto delivers beyond what is possible. We make impossible possible
- Customer first: Verto is creative in solving existing problems and bold in designing a new and better experience for customers
- We work as one: We value transparency, we share information, mistakes and successes
Company HQ
City of London, London, UK
Articles
Leadership
Ola Oyetayo
(CEO)Previously Portfolio Manager at Arbitrage Capital Limited and Group Corporate Treasury at Lloyds Banking Group, Financial Analyst at American Express.
Anthony Oduwole
(CTO)Previously Co-Founder at Tespoke, COO at Intelligent Robots Ltd and Co-Founder at Expedius.
Diversity, Equity & Inclusion at Verto
Alice Williams (Head of Expansion Operations )
- At Verto, we understand that diversity and inclusion aren't just buzzwords; they are critical elements that contribute to our overall success and innovation. As a business we're committed to driving financial inclusion across the world, starting in Africa, making diversity and inclusion a key pillar in both why our company exists and how we run our company
- A diverse workforce fosters creativity and problem-solving, allowing us to better meet the needs of our global customer base and we're proud that our company consists of 22 different ethnicities
- Our commitment to D&I starts from the top. We work closely with executives, managers, and employees to integrate D&I values into all aspects of our work culture, from hiring and retention to promotions and career development.
- We actively seek to recruit from a wide talent pool, ensuring that we consider candidates from all backgrounds, experiences, and abilities. But our efforts don't stop at hiring; we strive to create an atmosphere where everyone feels valued and heard.
- We work hard to create an inclusive environment that enables all employees to bring their full selves to work, driving engagement and productivity. We believe that the more diverse perspectives we have, the better decisions we make
- We actively promote safe spaces and inclusivity groups offer support and acceptance, enabling individuals to express themselves freely. They foster understanding, celebrate diversity, and promote equality, creating a welcoming environment for all.
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