At a Glance
- Tasks: Lead compliance efforts in banking and payments, ensuring adherence to regulations and AML controls.
- Company: Dynamic financial institution focused on compliance and innovation.
- Benefits: Competitive salary, professional development, and a supportive work environment.
- Other info: Join a team that values ethical standards and offers growth opportunities.
- Why this job: Make a real difference in financial crime prevention and compliance in a fast-paced industry.
- Qualifications: Experience in compliance within payment institutions and strong knowledge of AML regulations.
The predicted salary is between 60000 - 75000 £ per year.
The Compliance Manager for Banking & Payments oversees the Group's compliance with payment services regulations and anti-money laundering (AML) controls. This role focuses on managing AML frameworks, supporting payments compliance, and ensuring adherence to client money rules. The ideal candidate has a strong background in a payment institution and in-depth knowledge of AML regulations and the Payment Services Regulations (PSRs).
Main Responsibilities
- Manage the firm’s AML/CTF policies and procedures, ensuring they are up-to-date and effective.
- Take a lead role in preparing for and managing insurer and bank AML and Client Money Audits.
- Support all aspects of payments compliance work, ensuring adherence to the Payment Services Regulations 2017.
- Conduct regular AML risk assessments and ensure the effective implementation of controls.
- Oversee and conduct quality assurance on key financial crime processes, including CDD, EDD, transaction monitoring, alert reviews, and SAR filing.
- Report suspicious activities to the National Crime Agency (NCA) and other relevant financial intelligence units.
- Provide training and practical guidance to staff on financial crime and payments compliance matters.
- Perform risk assessments for new business initiatives related to banking and payments.
- Chair or participate in relevant compliance committees.
Required Experience & Qualifications
- Proven experience in a compliance role within an authorised payment institution.
- Experience as an MLRO or Deputy MLRO is highly desirable.
- In-depth knowledge of FCA regulations, the Money Laundering Regulations (MLRs), and the Payment Services Regulations 2017 (PSRs).
- Demonstrable experience in developing and implementing AML frameworks and controls.
- Strong practical experience with client onboarding (CDD/EDD), transaction monitoring, and SAR reporting.
- Experience with identification of consumer duty metrics, and collation and analysis of this MI, producing reporting for Board and Exco.
- Ability to work alone and be very hands-on in a fast-paced environment.
- Professional qualifications in compliance or financial crime (e.g., ICA) are advantageous.
- Exceptional communication skills and high ethical standards.
Compliance Manager - Banking and Payments in London employer: Stubben Edge
As a Compliance Manager in Banking and Payments, you will thrive in a dynamic work environment that prioritises compliance excellence and ethical standards. Our company fosters a collaborative culture where your expertise in AML regulations and payment services will be valued, offering ample opportunities for professional growth and development. Located in a vibrant financial hub, we provide competitive benefits and a supportive atmosphere that encourages innovation and continuous learning.
StudySmarter Expert Advice🤫
We think this is how you could land Compliance Manager - Banking and Payments in London
✨Join Compliance Communities
Get involved in compliance and risk communities — both online and offline. Look for forums, LinkedIn groups, or even local meetups where compliance pros hang out. You never know who might drop a job opportunity your way!
✨Attend Industry Conferences
Keep an eye out for compliance and risk management conferences and workshops in your area. These events are a goldmine for networking, and they often have job boards or recruiters on-site looking for new talent. Plus, it’s a chance to learn what's trending in the field.
✨Leverage Your University Career Services
If you’ve recently graduated or are still studying, head over to your university's career services. Many companies, including those in compliance, actively recruit fresh talent through these services, so make sure you tap into that resource.
✨Showcase Your Knowledge Online
Start writing articles or blog posts about compliance topics that interest you. Share them on platforms like LinkedIn to demonstrate your knowledge and passion. This not only builds your presence in the field but can also catch the attention of companies like Stubben Edge looking for candidates who are engaged and informed.
We think you need these skills to ace Compliance Manager - Banking and Payments in London
Some tips for your application 🫡
Show Your Understanding of Compliance:In the compliance-risk field, it's super important to showcase your understanding of regulations and risk management frameworks. Highlight any relevant coursework, certifications (like ICA or AML), or even projects that demonstrate your knowledge and commitment to this area. We want to see how you can navigate this complex landscape!
Quantify Your Achievements:When detailing your experience, try to quantify your achievements. For example, if you've previously worked on a project that improved compliance metrics or reduced risk exposure, give us the numbers! This data-driven approach really stands out to hiring managers in compliance-risk roles.
Tailor Your CV to Reflect Relevant Skills:Make sure your CV highlights skills that are particularly relevant to compliance, like attention to detail, analytical thinking, and report writing. Ensure these are easy to spot – consider using bullet points to break down your responsibilities and achievements for maximum impact!
Craft a Motivating Cover Letter:In your cover letter, let us know why you’re excited about the compliance-risk role at Stubben Edge. Share what motivates you about compliance, and how you believe you can contribute to our mission. This is your chance to showcase not only your skills but also your passion for this important field!
How to prepare for a job interview at Stubben Edge
✨Master the Regulations
Brush up on key compliance regulations relevant to the industry you're applying to. Familiarising yourself with specific laws and frameworks used in your field will give you an edge during technical questions. Show that you’re not just aware of them but can also apply them—think real-life scenarios!
✨Show Your Analytical Skills
Compliance roles really focus on analytical skills, so be prepared for case studies or situational questions during the interview. We've got to demonstrate how we approach risk assessments or compliance audits, possibly drawing on examples from past experiences or university projects. Bring some thoughtful case scenarios to discuss!
✨Know Your Tools
Get comfortable with commonly used compliance software and tools. Familiarity with platforms like RSA or MetricStream can really impress during your interview, as it shows you're ready to hit the ground running. If you’ve had any experience with them, make sure to highlight that!
✨Align with Company Culture
Since it's a full-time position, show your long-term commitment and interest in the company’s mission and values. Dive into how your ethics and professional philosophy align with Stubben Edge’s stance on compliance. A shared vision can really resonate with interviewers looking for fit as much as skill!
