Head of Risk & Compliance and MLRO

The Head of Risk & Compliance and MLRO (UK) is a critical leadership role responsible for the strategic direction and day-to-day management of the risk and compliance function for Optal Financial Limited (OFL). OFL is WEX’s authorised Electronic Money Institution (EMI) in the United Kingdom and is regulated by the Financial Conduct Authority (FCA). The role acts as a strategic partner to local and global business units, ensuring OFL maintains its mind and management in the UK while aligning with WEX's global standards. Reporting to the Senior Director - Head of Regulated Entities EMEA, the candidate will demonstrate a proactive, self-starter mindset and utilise internal tools—including AI and data analytics—to enhance regulatory processes and capabilities. The role contributes to the International Compliance team, leading initiatives that strengthen the firm's global compliance posture.

What’s on offer

• Highly competitive salary of £90,000-£95,000 (dependant on experience)
• Annual company bonus
• 40 hour week – Monday to Friday
• Hybrid working (ad-hoc meetings in the London Bridge office)
• Industry leading pension scheme
• Private medical
• 25 days holiday plus bank holidays – with the opportunity to purchase additional holidays
• Life assurance
• Income protection
• Cycle2Work Scheme
• Discounts & perks platform
• Employee wellbeing

Responsibilities and impact

• Regulatory Compliance & Oversight: maintain OFL's standing as an authorised EMI by meeting all regulatory expectations in the UK; act as the primary point of contact for the regulator.
• Execute statutory duties regarding AML, Financial Crime, and Anti-terrorism. Conduct Financial Crime Risk Assessment (FCRA). Ensure Suspicious Activity Reports (SARs) are handled with high judgement, speed, and independence.
• Ownership of OFL's involvement in the Annual Compliance Testing & Oversight Plan; collaborate with Testing team and control owners to remediate gaps and keep policies and procedures compliant.
• Lead internal audits for Compliance and AML; provide evidence and support; implement audit recommendations to closure.
• Own end-to-end documentation and timely submission of quarterly Risk & Compliance Reports to the OFL Board.
• Lead annual governance reviews, including policies, and deliver the annual Board Training Plan and schedule.
• Maintain the OFL Compliance Universe; conduct weekly horizon scanning and internal risk assessments; support Regulatory Legal and contribute to the Global Regulatory Tracker.

Risk Management Framework

• Support the Risk Management Framework by ensuring risk controls are balanced against OFL's Risk Appetite Statement (RAS).
• Collaborate with Finance and Operational Resilience leads to ensure safeguarding governance and wind-down planning are robust, compliant, and regularly tested.
• Navigate the WEX global matrix, ensuring UK requirements are respected and aligned with global Corporate Compliance and Data Privacy standards.
• Execute the annual review of outsourcing criticality and risk assessments.

Strategic Leadership & Business Partnership

• Collaborate with International Compliance and Regulatory Legal teams; participate in global projects and share best practices across regions.
• Identify opportunities for process improvement or regulatory alignment and lead initiatives within the UK and across the group.
• Act as a high-level advisor to the Board and Executive team, guiding on achieving business objectives through customer-first solutions.
• Partner with product and commercial teams to ensure compliance is integrated by design before product launches.

Experience You’ll Bring

• Experience in risk, compliance, or legal within financial services (EMI or Payment Institution experience preferred).
• Proven ability to manage complex testing plans and lead audit outcomes in a regulated environment.
• Demonstrated ability to coordinate with global colleagues and influence Board-level stakeholders in a matrixed environment.
• Degree in management, economics, law, or equivalent; AML/KYC or Compliance certification (e.g., CAMS, ICA) expected.

Skills & Competencies

• Comfortable in a multi-jurisdictional environment with international colleagues.
• Ability to adopt and champion new tools (e.g., Gemini, Tableau, Salesforce) to streamline compliance workflows and reporting.
• Independent worker with the ability to make high-stakes decisions in a fast-paced environment.
• Ability to see the big picture and balance commercial growth with regulatory compliance.

Other Requirements

• Must be a UK resident and legally permitted to work in the UK.
• EMD role subject to FCA approval/non-objection.
• Must adhere to OFL's Fitness and Propriety Standards and the WEX International Fitness and Propriety Policy.

What’s next?

If you feel you have the necessary skills for our Head of Risk & Compliance MLRO role, please apply today for immediate consideration. We are an equal opportunities employer and welcome applications from all suitably qualified persons regardless of race, sex, disability, religion/belief, sexual orientation, or age. Due to high application volume, shortlisted applicants will be contacted within one week of application. We do not accept speculative agency CVs. PSL agencies should only send CVs if authorised by the Talent Acquisition team.