Group Head of Compliance - based in UK/EU
Compliance – Global Compliance /
Who we are:
Mama Money is a growth-stage fintech startup working to help migrant workers in South Africa send money home. Since 2015 we have been providing reliable remittances, at a socially fair price, to those that need it most.
Mama HQ is in beautiful Cape Town, South Africa. We are 173 people strong (and counting) from 19 countries, across Africa, Asia, UK, and Europe. Our shared mission is to leave greed behind and show that we can use our talents and resources to make the world a better place. Our culture is built around the wellbeing of our team members and making a difference in our communities. “Just be lekker!” personifies our approach to work: we trust the wisdom of our talented and diverse team to do what is best for our customers and get the job done responsibly, without pedantic policies.
We’ve been around since 2015 and have earned a few accolades along the way, made some new friends, and expanded our reach but we are just getting started. We are self-funded and profitable. Our sustainable business model helps us keep delivering social impact, with the focus being on helping people rather than maximizing profit.
Mama Money is expanding globally and we are looking for a UK-based Group Head of Compliance, ideally with experience working in the payments industry, to join us. This role would be completely remote, based in the UK or Europe, and the first of our UK/EU-based positions.
As one of the first members of our UK/EU-based team, you will need to be comfortable working remotely and overseeing and growing global team. This role will be instrumental in ensuring that our service is done safely and securely - we want to operate in a legal and ethical manner while meeting our impact and business objectives.
To succeed in this role, you should be familiar with risk management and our industry’s standards. Your goal will be to ensure we operate in a legal and ethical manner while meeting our business objectives. The position requires a mature individual who has acquired considerable experience in compliance, governance, and the financial regulation field, with a strong focus on AML and international money transfer. As a partnership-based organisation, it is important that you are able to continuously liaise with our partners (payment partners, banks, regulators) on a regular basis on all compliance related matters.
Essential duties and responsibilities:
- Protecting Mama Money, its affiliates, its customers and its partners from any damage that might result from the failure to comply with regulatory obligations and assist the Executive Management in monitoring and mitigating compliance risks in line with the risk tolerance of the company. Ensuring that our operations and business transactions follow all relevant legal and internal rules.
- Developing and implementing an effective legal compliance program.
- Creating sound internal controls and monitoring adherence to them.
- Drafting and revising company policies.
- Proactively auditing processes, practices, and documents to identify weaknesses.
- Evaluating business activities (e.g. investments) to assess compliance risk.
- Collaborating with external auditors and HR when needed.
- Setting plans to manage a crisis or compliance violation.
- Educating and train employees on regulations and industry practices.
- Addressing employee concerns or questions on legal compliance.
- Keeping abreast of internal standards and business goals.
Expertise and background required:
- Proven experience of at least 10 years as a Compliance Manager
- Experience in managing and improving the usage of our customer screening and automated transaction monitoring tool Experience setting up and managing a team of AML / Customer Screening / Fraud investigators, specifically focusing on their ability to grow their skill set and liaise with rest of the organisation
- Ability to provide input in product development with regards to compliance enhancements / features that can enhance our customer experience and improve the safety of our customers and organisation. Experience in risk management
- Knowledge of legal requirements and controls (e.g. Anti-Money Laundering/KYC)Familiarity with industry practices and professional standards
- Excellent communication skills
- Integrity and professional ethics
- Business acumen
- Teamwork skills
- Attention to detail
- BSc/BA in law, finance, business administration or a related field
- Professional certification (e.g. Certified Anti-money Laundering Specialist (ACAMS) is a plus)
At Mama Money, the customers & communities1 we serve are at the heart of all that we do.
We bring our authentic2 selves to work where we are free to express our diverse identities while staying true to what we believe in and how we feel. Part of that means being able to have difficult conversations when necessary but always remembering to do so with trust, respect, and a positive mindset3. Being open to receiving feedback and understanding how this helps us evolve and grow is essential to succeeding in our environment.
We are responsible4 for ourselves, our behaviour, our delivery, and our output. Although we always aim to move things forward and get $hit done, we start small - taking it step by step and always look for ways in which we can improve. We know from experience that when we work together5 towards a common goal, we can achieve anything.
Mama Money is a special place because we care. We care about our customers, we care about the people who work for us and we care about the impact our work has on the world. There are things that we don’t care about too. Things like bureaucracy, discrimination, ego, titles, and silos. We’re a friendly bunch who don’t take ourselves too seriously but we do take our work, and our customers’ hard-earned money, very seriously.
1. Customer & Community
3. Positive Mindset