Head of Risk & Compliance (Hybrid) in London

LondonAdvice – Advice /Full Time /HybridAbout MoneyboxAt Moneybox, our mission is to give everyone the means to get more out of life. Moneybox is an award-winning wealth management platform, helping over one and a half million people build wealth throughout their lives, whether they're saving and investing, buying their first home, or planning for retirement. Job BriefMBSCL is establishing its own dedicated, independent Compliance function as it moves through FCA authorisation to provide regulated financial advice. This role holds the SMF16 (Compliance Oversight) and SMF17 (Money Laundering Reporting Officer) functions for MBSCL, and is a distinct individual from the equivalent functions at Digital Moneybox Limited (DML) - independence from DML is a deliberate feature of this role, not an administrative detail. DML is the main Moneybox operating business: it runs the app and digital platform, and provides the savings, investment and pension products Moneybox customers use day to day. MBSCL's is a separate entity set up to provide regulated financial advice to those same customers. DML acts as a supplier to MBSCL under an intra-group agreement, providing the platform, customer onboarding, and a range of shared services (including IT, finance, HR and customer support) that MBSCL relies on to operate. You will report to the MBSCL SMF1 for day-to-day business partnering, with a direct line of accountability to the MBSCL Board for the discharge of the SMF16 and SMF17 functions specifically, to preserve genuine independence. As part of working in a matrix group, you will also be part of the broader Risk and Compliance team and have a dotted line to the VP of Risk and Compliance for the Moneybox Group. This is a newly created role and includes oversight of the intra-group agreement with DML, compliance advisory support to the advice business, and compliance oversight (including the controls around the Aurora advice engine).In your first six to twelve months, you'll focus on standing up the compliance function (including MBSCL's independent financial crime framework), establishing effective oversight of the intra-group agreement with DML, and building the working relationships with MBSCL's co-sourced second line financial crime partner and outsourced internal audit provider that let MBSCL demonstrate genuine, evidenced independence to the FCA.What you'll doHold the SMF16 (Compliance Oversight) function, running MBSCL's compliance monitoring programme and regulatory advice, to ensure MBSCL meets its FCA obligations. Hold the SMF17 (Money Laundering Reporting Officer) function, owning MBSCL's Financial Crime framework and suspicious activity reporting, to protect MBSCL and its customers from financial crime. Direct and challenge MBSCL's co-sourced second line financial crime partner, to ensure their review genuinely tests MBSCL's own controls rather than DML's.Provide independent compliance oversight and challenge of the intra-group agreement with DML, to evidence effective, continuing oversight of the functions MBSCL receives from DML.Provide compliance oversight and challenge of the controls around the Aurora advice engine and House Rules, working with the Director of Advice, to ensure suitability and evidence requirements are met. Provide pragmatic, timely compliance advice to the business, particularly the advice team, on COBS 9A suitability and Consumer Duty, to support good customer outcomes. Report to the MBSCL Board, Audit & Risk Committee and Executive Committee on compliance and financial crime matters, to give senior stakeholders clear, decision-ready oversight. Act as MBSCL's primary point of contact with the FCA on compliance, financial crime and authorisation matters, to support a smooth and credible regulatory relationship. Lead horizon scanning, regulatory change and training for MBSCL, to keep the business ahead of regulatory developments. You can explain complex regulatory structures - CDD, reliance, outsourcing - simply and calmly to the Board and to the FCA.Experience & Skills Minimum 10 years in financial services compliance and/or financial crime, including experience as, or working closely with, an SMF16 and/or SMF17 holder. Direct experience of Customer Due Diligence, reliance arrangements (regulation 39 MLR 2017) and/or group-wide AML policies (regulation 20), ideally within a group containing more than one regulated entity. Experience supporting an FCA authorisation process, a skilled persons (s166) review, or comparable significant regulatory engagement. Fluency in English. Opportunity to join a fast-growing, award-winning and super ambitious startup. Thriving collaborative and inclusive company culture. Company pension scheme. Company bonus scheme. Hybrid working environment. Home office furniture allowance. Private Medical Insurance. Health Cash Plan - cashback on everyday healthcare like dental and opticians. Cycle to work scheme - spread the cost of a new bike and accessories. CycleSaver - save on bike-share subscriptions and have a more sustainable commute. Enhanced parental pay & leave.25 days holiday + bank holidays with additional days added with length of service. Our Commitment to DE&I:At Moneybox, we promote, support and celebrate inclusion, diversity and equity for all, so that everyone can bring their full selves to work. We believe that diversity drives innovation, and that if our team is representative of our community of customers, we can better support their needs. We are open-minded and always willing to go the extra mile to ensure all applicants can present their full self and potentialWorking Policy: We have a hybrid policy that includes 2 days from our London office and 3 from home. If the role states it is either hybrid or remote candidates must be based within the UK.At this time we cannot offer visa sponsorship for this role and we cannot consider overseas applications. Please note if offered a position, the offer is conditional and subject to the receipt of satisfactory pre-employment checks which we will conduct such as criminal record and adverse credit history checks. As a regulated financial business, an adverse financial history could impact your suitability for the role. By sending us your application you acknowledge and agree to Moneybox using your personal data as described below. 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