Remote Type
Hybrid
Locations
London - UK
Time Type
Full time
Posted On
Posted 4 Days Ago
Job Requisition ID
JR09270
About Us:
Planet is a leading technology company transforming payments by putting customer experience first. We offer integrated solutions that include payment processing, VAT refunds, dynamic currency conversion, and management services for merchants in the Retail and Hospitality sectors worldwide.
In recent years, we have experienced significant growth, expanding our services and global presence.
With strong private equity investors, Advent International and Eurazeo, we have the financial capital and expertise to grow our capabilities and reach through acquisitions.
Our mission is to create a world of connected commerce where payments are simple, secure, and seamless, enabling our partners to deliver exceptional experiences to their customers.
Role Overview:
Reporting to the Chief Legal Officer, the Head of Risk & Compliance will be responsible for developing and leading the overall Risk Management Framework (RMF) and program at Planet. This person will be able to view the business and opportunities through a risk-based lens and will include ensuring all aspects of Planet’s payment institution licenses are maintained in full compliance with regulation including but not limited to those of AML, fraud and credit risk management, safeguarding and governance as well as leading the group’s Enterprise Risk Management (ERM) program.
The role will lead the Planet’s risk and compliance teams, working alongside and in collaboration with the Commercial & Operational teams and direct other stakeholders across the Planet Group in the execution of an effective internal control framework of risk management and compliance monitoring activities required under the Company’s UK and EU (French passported) licenses.
As the Planet Group continues its path of exceptional innovation and growth, the Company requires a leader who is a subject matter expert in risk and compliance for regulated payments with experience managing cross-functional internal controls whilst scaling processes and retaining best-practices in line with regulatory supervision. This role requires an action mindset and one who is excited by the idea of growing and scaling global compliance and risk policies and processes as part of a bold, fast-moving, hands-on leadership team.
What You Will Do:
As the Head of Risk and Compliance, you will lead the general management team of the Company’s (currently) two licensed entities in UK and EU respectively, ensuring all activities required by our payment institution authorisations meet regulatory obligations on a risk-based approach. Specifically, you will orchestrate and ensure that cross-functional stakeholders from Finance, Operations, IT, Product, and Commercial execute their internal control activities such as: financial performance, safeguarding and capital reporting; KYC, credit risk & underwriting, transaction monitoring, investigations, escalations and SAR reporting; security assessments; product launch approvals; customer complaint handling; and training.
As leader of the Company’s AML programs, you will implement and/or maintain robust, scalable policies and procedures with a particular focus on those controls and activities designed to identify and mitigate financial crimes such as money laundering, terrorist financing, and fraud which could be enabled via the Company’s regulated payment services. This includes policies and procedures which are clear and easy-to-read, and which can be deployed at the Planet Group level, adjusted for any local nuance as required. This role will also require regular shareholder and board reporting on the entities activities and maintaining resilient, transparent interactions with the UK Financial Conduct Authority, French ACPR and other regulators as the business obtains licenses for new jurisdictions.
In addition, you will lead the Enterprise Risk Management Program and overall risk management framework to ensure it is fully deployed across all parts of the organization. This will necessitate setting risk appetite and tolerances, as approved by the board, maintaining risk registers, performing risk assessments, monitoring for emerging risks and recommending risk mitigation actions. This role will also oversee the audit function within Planet which currently leverages a third-party auditor.
Key Responsibilities:
1. Leading the general management team of the Company’s UK and EU (French) payment institution licensed entities by:
* Carrying out risk management and compliance monitoring activities and overseeing implementation and operation policies and procedures;
* Ensuring the effectiveness of the design and operation of compliance and internal control frameworks including controls related to financial reporting, financial crime mitigation, operational, product development, IT and security and commercial activities.
* Continuously evaluating and as necessary enhancing the controls and control framework in respect of activities of the licensed entities.
* Lead regulatory exams and investigations.
* Build and maintain exceptional relationships with UK’s Financial Conduct Authority and French ACPR, and any new regulators when obtaining new licenses.
* Regular reporting to the executive team and boards.
1. Direct accountability for the compliance activities of the licensed entities including:
* Managing and championing the second line testing and controls to ensure we can demonstrate an effective three lines of defence model within the Planet business.
* Supervising and developing the MLRO team to ensure you are fully resourced for continued growth at pace.
* Building fit-for-scale control processes including diligence processes through onboarding activities in our first line, escalation processes to our second line and ongoing scrutiny of existing customers, transaction monitoring for fraud and AML/CTF checks, investigations of suspicious activity and SAR reporting.
* Working closely with the first line of defence sitting in Operations, whilst owning the second line framework, tools, techniques and policies.
* Managing key 3rd party vendor tools including Lexis Nexis (KYC), Fraud.net (transaction monitoring), Autorek (safeguarding/reporting), etc.
* Drafting and articulating policies and procedures in plain language to ensure Planet Group are viewed as easy to conduct businesses with.
* Defining and implementing the entities’ credit policy and credit monitoring processes including up front and periodic credit reviews, maintaining credit watchlists, and execution of risk reduction actions (ie. taking reserves).
* Performing risk assessments to identify risk in business, business practices, policies and procedures.
* Audit existing policies and procedures - taking ownership to change these when necessary.
* Manage training and awareness in respect of the compliance program.
2. Ownership of the Company’s Enterprise Risk Management Program and related risk operations to include:
* Development of internal risk mapping (possibly RCSA or similar), to enable all parts of the business to properly assess their risks.
* Emerging risk mapping, monitoring, testing and reporting.
* Management/ownership of internal audit as a third line of defence.
* Risk and risk mitigation reporting to the board(s).
Support the Company’s M&A efforts, including evaluating target AML and risk programs and reporting on findings, deficiencies and required uplift.
This will necessitate:
* A strategic view with hands-on, tactical pragmatic execution.
* Quick synthesizing of regulatory requirements with a wider commercial, risk-based viewpoint.
* Making the complex simple and provide a clear articulation to business, customers, and regulators on the activities of the Company and the risk and compliance policies and controls applied to meet regulatory requirements.
* Maintaining a visible profile with key business leaders and staying accessible for key inquiries around license, AML, and risk processes.
* KPI-driven procedures.
* Horizon scanning for what regulations and demands of regulators may impact the Company’s licenses – and then researching options, garnering best practice, forming a view and then making and executing recommendations.
* Maintaining knowledge, skills, and market awareness in industry and risk trends and standards; seek out areas for professional development.
* Ability to effectively communicate well with individuals, teams, customers.
* Hold the strategic vision for the Risk & Compliance function and its teams.
* Be a trusted advisor and business partner to the Company, senior leadership, board and its committees, as well as shareholders in matters of best practice in AML/CTF governance, compliance with regulation and risk mitigation.
Who You Are:
* Demonstrable understanding of adopting the ability to be flexible and view business opportunities through a risk based lens.
* Significant experience of regulated compliance in payments, financial services or FinTech businesses.
* Previous experience leading a multinational risk and/or compliance agenda is preferred.
* Expert knowledge of payments, e-Money and similar regulations in UK and Europe. Demonstrable understanding of license obligations, including a close understanding of the UK PSRs 2017, PSD2 and the French Monetary and Financial Code.
* Subject matter expert on AML, CFT, KYC, and SARs with the ability to define these terms on a risk-based approach as they apply to the Planet Group.
* Experience building multi-jurisdictional compliance and risk policies, appreciating it is not “one size fits all” approach.
* Proven leader of people in a fast paced, growth environment. Ideally, privately backed growth environments.
* Demonstrated experience interacting with all levels of management, compliance performance metric reporting and analytics.
* Appreciates urgency and pace required for a growth business, epitomising a growth mindset.
* Excellent leader of people with clear understanding of resourcing needs through scaling journey.
* Exceptional communicator with prior evidence of board reporting.
* Must be hands-on and pragmatic.
* French language fluency a plus.
Why Planet:
Planet is an equal opportunity employer where diversity is valued, and all employment is decided based on qualifications, merit, and business need.
Come and grow your career in the most exciting, fast paced technology market, with a business that delivers feel-good connected commerce. We would love to hear from you – Apply now.
At Planet, we embrace a hybrid work model, with three days a week in the office.
Reasonable accommodations may be made in order to allow for an individual to perform the essential functions of this role successfully.
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