Regulatory & Compliance Team Manager

The Bank

A leading issuing bank, who has been transforming the future of cross border payments to serve our Clients over the past 16 years. The Bank is now embarking on a journey to expand its banking product range with the intention of offering digital corporate banking services.

The Bank has offices in London and Gibraltar, currently serving innovative Clients through a portfolio of e-money products and payment services. As a leader in the industry, we set the standard for excellence in the payments sector. We are forward thinkers in a complex ecosystem and partner with cutting edge Fintech’s to challenge the way we conventionally bank for the better.

Investors

Our parent company, IDT Corporation, is an innovative and opportunity-seeking multinational company headquartered in the US and listed on the New York Stock Exchange, with offices across the globe.

Role Outline

This position will assist the business to manage, develop and maintain its compliance oversight framework, working with colleagues from across the organisation, and in particular the Compliance Team. You will work closely with the Head of Compliance to strengthen the second line function. The successful candidate will contribute to the short and long-term needs of the business assuring adherence with relevant legal and regulatory requirements. Main responsibilities include:

• Management of the Compliance Team in Gibraltar, with the support of the Head of Compliance.
• To develop an understanding of the business and its associated products, to support enhancements and ongoing maintenance of the third-party oversight and second line assurance framework.
• Responsible for delivering the Compliance Monitoring Plan and overseeing the other 2nd line activities, including internal thematic reviews and internal/external quality assurance.
• On-going review of existing internal policies and procedures to identify gaps and weaknesses, recommending areas for improvement to ensure a robust Compliance framework is maintained at all times.
• Work on the implementation of applicable regulatory changes as they occur and provide compliance advice and guidance to the business on an ongoing basis in accordance with the Company’s policies and procedures.
• To provide support and guidance to the business in order to meet the company’s third-party Due Diligence objectives.
• To work with Relationship Managers and Project Managers to understand the urgency, priority and sensitivity of initial and ongoing Compliance requests and apply the appropriate procedures.

• Ensure exception cases are managed effectively, and to work with stakeholders to correct any outstanding items in a timely manner.
• To report identified control weaknesses and compliance breaches to the department Head.
• To help ensure a positive client experience in light of increased regulatory requirements, building strong and trusting relationships with clients and other key stakeholders.

Competencies, Knowledge & Skills

• Knowledge of E-money, Payments and Banking Regulations in the UK & EEA
• Extensive experience of working within the financial services regulated sector with knowledge of oversight requirements for third party relationships and outsourcing.
• Able to provide effective challenges whilst building strong, respectful relationships.
• Excellent communication and presentation skills.
• Analytical mind with problem-solving aptitude.
• Excellent organizational skills and attention to detail.
• Strong supervisory and leadership skills.
• Proficient with Microsoft Office Suite or related software to prepare reports and policies.

Experience/knowledge

• Proven experience working in a Compliance and/or Regulatory function, preferably in the banking or payments sector.
• Solid managerial experience preferably in a banking or payments environment.

Additional Skills Required

• Professional mannerism
• Self-motivated and able to work with a team to complete necessary tasks in a timely manner
• Pro-active approach to daily duties
• Ability to take initiative and utilize sound judgment in decision-making
• The ability to work to deadlines
• Agile and pragmatic when approaching change
• Adaptable to a wide range of products and variables when assessing risk
• Good oral and written communication skills

The holder of this position will be expected to pass the required background checks in line with the Bank’s policy.

Disclaimer

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.