UK Head of Regulatory Compliance

Iwoca Ltd; London; On-site; GBP 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a UK Head of Regulatory Compliance to lead efforts in ensuring adherence to regulatory standards. This pivotal role involves managing the application for UK payments authorisation, overseeing compliance with relevant regulations, and providing strategic advice to senior stakeholders. The ideal candidate will have extensive experience in a senior compliance role, particularly within the fintech sector, and a strong analytical mindset. Join a dynamic team dedicated to empowering small businesses through innovative financial solutions, all while fostering a culture of compliance and growth.

Benefits

Medical insurance from Vitality

Private GP service

25 days holiday plus birthday off

Fully paid sabbatical after four years

Emotional and mental health support

3% Pension contributions and share options

Generous parental leave

Cycle-to-work scheme

Company retreats twice a year

Learning and development budget

Qualifications

• 5+ years in a senior compliance role within fintech or financial services.
• Experience managing card compliance programs is a distinct advantage.

Responsibilities

• Manage application for UK payments authorisation and liaise with FCA.
• Oversee compliance with UK regulations and conduct risk assessments.

Skills

Regulatory Compliance Management

Risk Assessment

Stakeholder Engagement

Analytical Skills

Project Management

Education

Relevant Industry Certifications (e.g. ICA)

Job description

We’re looking for a UK HEAD OF REGULATORY COMPLIANCE

The UK Head of Regulatory Compliance will be a strategic and hands-on senior member of the team responsible for ensuring iwoca’s compliance with all applicable regulatory requirements, fostering a strong culture of compliance, and serving as a trusted advisor to senior stakeholders. In your first 12 months, you will be instrumental in iwoca obtaining a UK payments authorisation. Reporting to the Head of Legal this role is vital in ensuring that iwoca understands and adheres to regulatory standards.

About us

Fast, flexible finance empowers small businesses to manage their cash flow better and seize opportunities - making their business and the economy stronger as a whole. At iwoca, we do just that. We help businesses get the funds they need, when they need it, often within minutes.

We’ve already made several billion in funding available to over 100,000 businesses since we launched in 2012, and positioned ourselves as a leading Fintech in Europe. Our mission is to finance one million businesses. We’ll get there by continuing to make our finance ever more relevant and accessible to more businesses by combining cutting-edge technology, data science and a 5-star customer service

Your mission

• Obtaining a UK payments authorisation:

  • Project manage our application to become an authorised UK payments institution, which is key to the rollout of our credit cards project.

  • Liaise with the FCA on the application, including interviews as part of the approval process.

  • Ensuring that internal stakeholders contribute to the application so that our representations to the FCA accurately reflect our plans.

  • Possibility of future regulatory applications on behalf of iwoca in the UK and Germany, and any other jurisdiction we operate in.

• Regulatory Compliance management:

  • Oversee iwoca’s compliance with relevant UK regulations, including FCA guidance, data protection laws, and the Lending Standards Board’s requirements

  • Monitor regulatory and industry developments to ensure the business adapts to evolving standards and expectations

  • Conduct compliance risk assessments and ensure appropriate mitigations and controls are in place

  • Ensure a programme of compliance monitoring provides second-line assurance over iwoca’s key regulatory risk areas

• Policy Development:

  • Develop, maintain, and implement regulatory compliance policies, procedures, and frameworks aligned with regulatory requirements and industry codes and standards

  • Ensure that policies and procedures reflect iwoca’s culture and approach to compliance risk

• Advisory and Stakeholder Engagement:

  • Act as a trusted adviser to the leadership team on regulatory compliance risks and strategies

  • Provide practical regulatory advice on new products, services, and operational changes

• Regulatory Relationships:

  • Maintain positive relationships with relevant regulatory bodies, and lead the interactions with the FCA and other relevant standard setters

  • Engage with external bodies, such as the Lending Standards Board, as well as industry peer groups, forums, roundtables, and regulatory task forces to stay informed about emerging risks, trends, and regulatory changes

• Collaboration and Team Leadership:

  • Lead and support the Compliance Manager, including in their GDPR compliance work, promoting a collaborative and high-performing environment while driving a proactive approach to regulatory compliance

  • Collaborate with other iwoca functions such as Legal, Technology, Analytics, Operations and Product groups to ensure the regulatory compliance view is considered in our commercial strategies and business practices

  • Build and maintain an effective relationship with the Risk Committee ensuring that regulatory compliance risks and issues are reported at regular intervals

Requirements

• 5+ years of proven experience in a senior compliance role ideally within a B2B lending fintech, corporate lender or other related financial services

• We are launching card products and experience of managing card compliance programmes, gained within an EMI or similar regulated entity will be a distinct advantage

• Meet the fitness and propriety requirements of the FCA for a PSD individual

• Be able to demonstrate a risk-sensitive approach to explaining and mitigating compliance risks for senior stakeholders while supporting business growth

• Be exceptionally analytical, including skilled at using data to understand and explain regulatory initiatives and guidance

• Hold relevant industry certifications (e.g. ICA)

The salary

We’re open-minded, so definitely include your salary goals with your application. We routinely benchmark salaries against market rates and run quarterly performance and salary reviews.

The culture

At iwoca, we look to hire smart, passionate, humble individuals with a growth mindset. We prioritise a culture of learning, growth, and support, and invest in the professional development of our team members.

We value thought and skill diversity and encourage you to explore new areas of interest to help us innovate and improve our products and services.

Our friendly and inclusive environment, combined with our flexible work policies, ensures that you'll have the perfect balance between work and life, empowering you to thrive both personally and professionally.

The offices

We put a lot of effort into making iwoca a brilliant place to work:

• Offices in London, Leeds, and Frankfurt with plenty of drinks and snacks

• Events and clubs, like bingo, comedy nights, yoga classes, football, etc.

The benefits

• Medical insurance from Vitality, including discounted gym membership

• A private GP service (separate from Vitality) for you, your partner, and your dependents.

• 25 days’ holiday, an extra day off for your birthday, the option to buy or sell an additional five days of annual leave,and unlimited unpaid leave

• A one-month, fully paid sabbatical after four years.

• Instant access to emotional and mental health support.

• 3% Pension contributions and share options.

• Generous parental leave and a nursery tax benefit scheme to help you save money.

• Cycle-to-work scheme and electric car scheme.

• Two company retreats a year, we’ve been to France, Italy, Spain, and further afield.

And to make sure we all keep learning, we offer:

• A learning and development budget for everyone.

• Company-wide talks with internal and external speakers.

• Access to learning platforms like Treehouse.

Useful links:

• iwoca benefits & policies