Senior Compliance Manager & Deputy MLRO - #1674815

About PayAlly

As the world of financial services becomes more automated, PayAlly abides by the esteemed tradition of keeping the human touch to deliver exceptional service. We make sure every client, regardless of size, needs and transaction volume, is looked after by a private Relationship Manager. PayAlly is a principle member of Visa and Mastercard. We offer a fully integrated suite of financial services solutions that are tailor-made for each business with global ambitions. Our extensive network across the world allows us to provide frictionless cross-border payments in 39 currencies. PayAlly provides international and local payments, multicurrency account, currency exchange, debit cards, card issuing and payments gateway.

The Senior Compliance Manager is a senior role within regulated financial services firms in the UK. This position combines oversight of compliance frameworks with responsibility for anti-money laundering (AML) controls, typically requiring approval from the Financial Conduct Authority (FCA) under Senior Management Functions.

Main Responsibilities

Compliance

• Support the development and implementation of the firm’s compliance strategy and framework, ensuring adherence to relevant laws and regulations


• Oversee regulatory reporting and liaise with the FCA and other regulators


• Monitor and assess emerging regulatory risks, advising senior management on compliance matters


• Ensure compliance with the Senior Managers and Certification Regime (SM&CR)


• Lead the compliance team, fostering a strong compliance culture across the firm


• Liaise with partnered banks and financial institutions to address requests and integrate partners’ compliance requirements into the company’s products and risk infrastructure


• Support the development compliance policies and procedures and help design compliance processes and risk management infrastructure


• Conduct quality assurance oversight on CDD, EDD, transaction monitoring, alert review, SAR filing, and OFAC reporting tasks


• Perform risk assessments and identify compliance risks for new business initiatives and existing operations


• Support global payments compliance work for UK and Canada


• Chair risk and compliance committees


• Work closely with audit and legal council


• Adhere to Visa and Mastercard rules and develop compliance controls over PayAlly’s merchant issuing and acquiring programs


• Provide horizon scanning over existing and upcoming regulations


• Participate in various ad-hoc projects and tasks as assigned

Deputy Money Laundering Reporting Officer (DMLRO)

• Develop and maintain the firm’s AML/CTF policies and procedures


• Conduct regular AML risk assessments and ensure effective implementation of controls


• Review client onboarding processes, ensuring compliance with AML regulations


• Report suspicious activities to the National Crime Agency (NCA) and other relevant financial intelligence units


• Provide training and guidance to staff on financial crime matters

Required Experience & Qualifications

• Proven experience in a senior compliance role within an electronic money institution


• In-depth knowledge of FCA regulations, including SMF16 and SMF17 requirements


• Experience in developing and implementing compliance and AML frameworks


• Strong leadership and communication skills, with the ability to influence at all levels


• Professional qualifications in compliance or financial crime are advantageous