Compliance Lead & MLRO

Cheddar; Greater London; On-site; GBP 110,000 - 160,000; Full time

Benefits offered by this job

Competitive salary

Meaningful equity in the organisation

Hybrid work model

Job summary

Cheddar, authorised by the FCA, seeks a Compliance Lead & MLRO to oversee UK regulatory requirements for Payment Initiation and Account Information Services. Full responsibility for AML, KYC, and reporting sits with you as the voice of compliance and the customer.

Join a dynamic team and drive regulatory oversight, risk-based monitoring, and governance across UK operations with cross-functional collaboration and leadership in a hybrid work environment from London.

Qualifications

• 2+ years within open banking or e-money/payments with compliance lead or MLRO exposure.
• 2+ years of people management experience.
• Hands-on knowledge of UK regulatory requirements and compliance programmes.
• Ability to communicate with senior management and stakeholders.

Responsibilities

• Drive a culture of compliance across the business with a focus on the voice of the customer.
• Continually review AML and financial crime processes and implement controls reflecting regulatory requirements.
• Be a key stakeholder in delivering new products and processes as the voice of compliance and the customer.
• Facilitate risk-based Know Your Customer and Transaction Monitoring programmes and report suspicious activity.
• Build relationships with authorities, payment schemes, and regulators to reflect latest trends.
• Ensure accurate responses and reports to the Regulator (FCA).
• Manage UK operations, including training plans, and tracking KPIs and KRIs.
• Collaborate with senior management and compliance consultants on strategic planning and goals.
• Work with partners and regulatory authorities to ensure compliance.
• Conduct regulatory reviews and monitor developments affecting activities.
• Prepare reports for senior management and the Board of Directors.

Skills

Regulatory compliance

Stakeholder communication

Data visualisation

Team leadership

Tools

Data visualization tools

Job description

Cheddar is an Authorised Payment Institute, rewriting the rules of moving money. Through ourproprietary open banking platform that's independent of legacy finance networks, we'recreatinga truly revolutionary finance ecosystem that's revolutionising how consumers save money on their every day spend.

Located in London to serve the UK, we recently won Best Newcomer at the British Bank Awards 2024

As part of a dynamic team, you'll create services that will deliver tangible benefits to millions. Collaborating withsome of the brightest minds in tech, with experience directing some of the World's most successful and innovative companies, you'll help launch, scale and continually evolve our suite of finance toolsthat exceed our customers' expectations.We’re looking for talented individuals who share our core principles to join our award-winning team.

Job Description

Cheddar is authorised and regulated by the Financial Conduct Authority with permissions to conduct Payment Initiation Services and Account Information Services. We are directly authorised and do not act as an agent to any third parties.

As Compliance Lead & MLRO, you'll oversee and manage our regulatory requirements in relation to these permissions, including:

• Drive a culture of compliance across the business with a focus on the voice of the customer.
• Continually review and develop AML and financial crime processes, and ensure the implementation and appropriate controls that reflect evolving business and regulatory requirements
• Be a key stakeholder in the delivery of new products and processes as the voice of compliance and the customer
• Facilitate risk-based Know Your Customer and Transaction Monitoring programmes to detect unusual activity and investigate and report suspicious activity in accordance to regulatory requirements
• Build relationships with relevant authorities, payment schemes, and regulators to ensure we operate according to the latest Financial Crime trends
• Ensure accurate responses and reports to the Regulator (FCA).
• Manage UK operations, including training plans,tracking team and individual Key Performance Indicators (KPIs), and Key Risk Indicators (KRIs) for the programme
• Work with senior management and our compliance consultants to provide strategic planning, organisational structure, focus areas, and quarterly goals and key results
• Work with all relevant partners, financial institution partners, finance networks and regulatory authorities
• Conduct compliance review and analysis of new regulatory developments and maintain oversight of developments affecting business activities
• Prepare reports to senior management and Board of Directors to communicate all relevant compliance issues and elevate any important or high risk compliance issues
• Work cross-functionally (such as Product, Development, Customer Service) to identify clear steps necessary to avoid regulatory risks and provide solutions

Qualifications

• 2+ years of experience in an open banking firm, or related e‑money/payments industry with experience to operate at a compliance lead, MLRO or Deputy MLRO level.
• 2+ years of people management experience
• Operational knowledge in building and running a sound compliance programme, with hands‑on knowledge and an understanding of regulatory requirements in the UK
• Demonstrated ability to communicate effectively with senior management and third‑party stakeholders
• Ability to build collaborative working relations with peers, colleagues and with remote based teams with individuals at all levels of the organisation
• Experience with data visualisation tools

Additional Information

Competitive salary

Meaningful equity in the organisation

Plus many more

We are strong supporters of diversity and inclusion, practicing what we preach. We pride ourselves in having a diverse team with a hybrid way of working that further allows us to hire the best talent according to aptitude.

We openly welcome all identities and backgrounds.