Compliance Officer

Pax2pay is a rapidly growing FinTech business on a mission to modernise and simplify payments for the Travel industry. Our customers are some of the biggest players in the Travel sector and our partners are key players in the FinTech world. Established in 2019, we aim to become the number one choice for B2B payments within the UK and EEA.

Pax2pay has an award-winning digital payment solution, making travel payments easier, faster, and safer for the entire travel industry. We enable businesses to pay for their costs via virtual cards and bank transfers, covering everything from hotel bookings to flights, travel transfers to tour bookings, and utilities to SaaS subscriptions. Pax2pay has settled billions of pounds worth of transactions, won numerous industry awards including 'Most Disruptive Payments Technology', and supported some of the largest and most successful players in the Travel Space.

Pax2pay operates under the regulations set by its regulators. With a commitment to integrity, transparency, and adherence to regulatory standards, we strive to maintain the highest level of compliance adherence in all our operations.

Role

As a Compliance Officer at Pax2pay, you will play a crucial role in ensuring the company's adherence to FCA regulations and industry best practices. You will be responsible for conducting comprehensive compliance assessments, monitoring regulatory developments, and implementing effective compliance frameworks to ensure the Electronic Money Institution meets its obligations under the FCA Handbook, Electronic Money Regulations 2011 (EMRs), Payment Services Regulations 2017 (PSRs), UK AML regime, and other applicable UK regulatory requirements. The role acts as the second line of defence, providing independent oversight, advice, monitoring, and challenge.

What you’ll be doing

• Stay abreast of changes in FCA regulations and other relevant regulatory developments, engaging in appropriate forum groups and networks.
• Conduct periodic reviews and assessments to ensure ongoing compliance with FCA, other regulatory and corporate governance requirements.
• Collaborate and actively engage with internal departments to identify and address compliance issues promptly.
• Assist in the creation, review, and enhancement of compliance policies and procedures.
• Ensure effective communication and training on compliance policies and procedures across the organisation.
• Support the development and ongoing implementation of Pax2Pay’s Compliance Monitoring Plan.
• Conduct risk assessments to identify potential and known compliance risks, and develop strategies and controls to mitigate them.
• Work closely with the management team to align compliance efforts with overall risk management objectives.

Reporting and Documentation

• Support the preparation and timely submission of accurate reports to regulatory authorities.
• Maintain comprehensive and organised documentation of compliance activities.
• Prepare internal reports of relevant regulatory activity and management information.

Internal Training and Awareness

• Support, develop and deliver training sessions to enhance the organisation's understanding of regulatory requirements.
• Provide day-to-day compliance advice to senior management and the business.
• Foster a culture of compliance awareness and ethical behaviour within the company.

What we need

• Proven experience in compliance roles within FCA regulated payments firms would be advantageous.
• Knowledge of FCA and other UK regulations and payments industry compliance standards.
• Strong working knowledge of FCA Handbook, EMRs & PSRs and UK AML, CTF, Sanctions and Proliferation Financing regime.
• Strong analytical, problem-solving, and organisational skills.
• Excellent communication and interpersonal abilities.
• Attention to detail and the ability to work independently or collaboratively as part of a team.
• Ability to collaborate with cross-functional teams.