Head of Compliance and MLRO

Full Job Description

Vance is a game-changing global neobank aimed at creating a seamless banking experience that transcends borders. We are backed by influential venture capitalists like Hummingbird Ventures, Y Combinator, Global Founders Capital, Soma Capital, and are on a mission to simplify global banking as easily as booking an Uber. At our core, we're building a platform to be a one-stop-shop for banking across boundaries, making it effortless for customers to access banking and financial products in any country.

We're a diverse, dynamic team of 25, operating with the energy of a startup and the agility of a sports team. With innovation, hustle, and collaboration at our core, we're connecting banking infrastructure around the globe to build a unified human-first experience for everyone, regardless of where they are on the globe. Discover more about our work, our ethos, and our vision on our website, Vance .

As a Senior Compliance Officer at Vance, you will take a pivotal role in establishing and maintaining our regulatory compliance framework. This leadership position involves direct liaison with regulatory bodies, notably the FCA, and owning critical compliance functions. Your expertise will be instrumental in shaping Vance's compliance strategy and ensuring we operate within the regulatory guidelines.

Location: United Kingdom
Reporting to: Group General Counsel

• Build and maintain strong relationships with regulatory bodies, especially the FCA, ensuring open and honest regulatory liaison.

• Own the SMF17 function, covering policy and risk framework for AML, Terrorist Finance, Sanctions, Frauds, Market Abuse, Bribery, and Corruption.

• Develop and implement in-house KYC and risk assessment models, including automated KYC processes.

• Lead meetings with the FCA for necessary approvals/licenses.

• Review legislation and conduct gap analyses to ensure continuous compliance.

• Act as the Money Laundering Reporting Officer and Data Protection Officer, maintaining relevant policies.

• Provide compliance and risk advice across the organization and assist in addressing breaches and non-compliance issues.

• Contribute to business strategy and planning from a risk and compliance standpoint.

• Develop a strategic approach to risk and compliance, shaping the target operating model for Vance.

• Offer advice on corporate governance and enhance the corporate governance framework.

• Facilitate risk reporting through governance structures, ensuring consistency in reporting.

• Ensure effective resource allocation and direction of the Compliance Function.

• Maintain an independent mindset for robust second-line defense.

• Lead the Compliance Monitoring Function, advocating for risk and compliance awareness.

• Champion a positive risk culture and provide a 'tone from the top' on compliance matters.

• Proven Experience : 7+ years as a compliance professional at a Payment Institution, Bank or FinTech required. Must have had experience in an approved position at a regulated entity.

• Regulatory Expertise : Deep understanding of payments, e-money or wallet products/services, banking functions, and/or merchant processing.

• Communication Skills : Ability to update the leadership team on regulatory changes affecting the business.

• Leadership : Demonstrated ability to lead, promote company culture and values, and maintain high performance standards.

• Innovative Thought Leadership : Strong presence in market knowledge relating to best practices and innovations in the payment technology industry.

• A seasoned compliance expert with a strategic mindset and strong regulatory background.

• Adept at navigating the complexities of fintech regulation, with a keen focus on customer outcomes and regulatory relationships.

• A dynamic leader capable of fostering a culture of compliance and risk awareness throughout the organization.

Join Vance for an opportunity to work in an environment where building for scale, rapid iterative development, and customer-centric product thinking are at the heart of every project. Collaborate with some of the best minds in the industry, execute at lightning speed, and own your work from start to finish. If driving product innovation and making impactful decisions excites you, Vance is your destination.