Head of Compliance - top 100 FinTech consumer lender

  • £70,000 - £90,000 plus benefits
  • London, England, United Kingdom
  • Permanent, Full time
  • Broadgate Search Ltd
  • 05 Dec 17 2017-12-05

This is a standalone Head of Compliance appointment supporting the CRO and taking ownership of Compliance for the business. This will include supporting the conversion of an existing web based business into a central Principal Network which will launch new ventures as Appointed Representatives, demanding central compliance (FinTech).

Broadgate Search are proud to be working with an innovative, top 100 FinTech consumer lender who are changing the consumer credit space for the better by lending differently and offering a low typical APR.

This is a rare opportunity to join a collaborative, entrepreneurial business team which is constantly challenging the status quo.  The business is a dynamic fast growing FinTech working to redefine financial services solutions for small businesses and consumers.  There are significant opportunities for career progression as the business grows and as a result your department also grows.   

To be considered, you will have a significant amount of CONC or related experience.

 Role Purpose

  • To be responsible for the continuing development and improvement of compliance strategy
  • To deliver clear, timely, independent and pragmatic expert regulatory advice and guidance to the business and portfolio business leaders including:
    • Developing and maintaining effective and close working relationships with internal stakeholders
    • Supporting the development of business processes, procedures and controls to ensure they are properly mapped to FCA and other applicable rules and regulations
    • Providing sound and pragmatic advice to the business on any project/ regulatory change activity
    • Engaging with the product design and approval process, providing review and challenge to new and existing product development
    • Managing and owning the financial promotions process (new and BAU) and working closely with Marketing teams to develop compliant collateral
    • Assisting with the creation, sign off and provision of regulatory training when required
  • To support members of the leadership teams in the discharge of the regulatory responsibilities, reporting and escalating all key regulatory risks:
  • Identify and escalate at the earliest opportunity any significant regulatory issues to business leadership teams and, where appropriate the partners, in a clear and accurate manner
  • Ensure that Regulatory Risk is managed in line with risk appetite and policy across the portfolio
  • Challenge business units by providing insights and trends to enable the business to make effective risk based decisions
  • Manage and track information/ data requests from the FCA to ensure timely and appropriate completion by the business owners
  • Development and maintain a cooperative and transparent relationship with the FCA
  • Assist the businesses with preparations for regulatory visits, including conducting mock interviews where require
  • Support the development and delivery of the annual compliance monitoring plan in each relevant business
  • Identify and escalate risk exposures within the firm on a timely basis and ensure that action plans are in place to address the risks
  • Oversee and monitor key regulatory risks and ensure appropriate escalation
  • Oversee and monitor the risks arising from new products and ensure these risks are managed in line with risk appetite and policy
  • Ensure the development and regular management review of appropriate MI/ reporting
  • Lead the FCA application process for AR and other portfolio businesses as they transition to being regulated on a standalone basis
  • Establish and build-upon the needed compliance processes and infrastructure for the PN
  • Be comfortable holding (or have held) Controlled Functions roles for the Principal Network which will include compliance oversight of the AR businesses: in the first instance, CF11 (Money laundering reporting)
  • To support the management and maintenance of strong and effective working relationships with the FCA supervisory team, including facilitation and oversight of regulator visits including:
  • To provide appropriate compliance monitoring plans and ensure they are being followed:
  • To support the establishment of the Principal Network (PN) to be used to rapidly launch new FinTech ventures as Appointed Representatives (AR), including:


About you:

  • An experienced consumer credit compliance advisory professional, with anti-money laundering experience at/ towards the CF11 level and experience of monitoring and testing
  • Self-motivated and a willingness to take responsibility and work independently, in a primarily standalone compliance role working within a fast-paced startup environment
  • Willingness to work in a young and changeable FinTech industry, within a broad compliance role, suiting someone who is comfortable provide strategic direction at/ towards a senior level whilst retaining a keen eye for technical rigour through drafting various policy and procedures as needed
  • Substantial knowledge and experience of managing conduct risk, including providing strong check and challenge to business stakeholders, often with individuals who are working within the financial services industry for the first time
  • Ability to translate complex regulation into practical and pragmatic policies and advice to a dynamic business audience
  • Proven ability and experience of building strong networks
  • Proven compliance experience and the skills required to manage stakeholders and relationships, whilst displaying the ability to influence at all levels